Emerging markets look... not good

Mr. Bernanke blames the EM's for the world's inflation problems.  And dutifully, the inverse chart is painting a pretty nice picture (EEV).  The chart of its opposite, EEM looks like a real mess.  Edit (3:08) Think about it, the emerging markets made a lower high in early 2009 as the laggard US made a lower low in a fear capitulation.  Because Bernanke dutifully watches prices when talking about inflation - and the stat keepers exclude food & energy, he is able to deny inflation is a problem in the US.  But again, keep in mind who led the awesome hope rally out of Armageddon '08 and also keep in mind what is likely to happen if they do indeed turn down hard presently.  The charts of EEM and FXI look brutal.  This must be reversed or the US markets' time will also come... at a lag.

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