Over there, the southern area of the eurozone is in an economic death spiral. France's economy is imploding, and its government seems even more dysfunctional than ours. Also, many of us don't know what to believe about China's economic data, which seems to be disconnected with on-the-ground data. (Note: The HSBC Services PMI climbed to 54.3 in March , up from February's 52.1 and the highest since September.) Finally, Goldman Sachs' final March GLI now places the global industrial cycle in a "slowdown phase," characterized by still-positive but declining momentum.