This Is A Disaster Waiting To Happen

So last week, I put you on "contagion alert" amid the chaos in commodities. I'm not entirely sure why, but it doesn't seem like people generally appreciate the extent to which collapsing metals, plunging crude, and China squeezing leverage out of the system is a really - really - bad combination of factors when it's bumping up against an emerging markets complex that's already been strikingly resilient in the face of an ostensibly challenging environment. That is, everything with an EM prefix