The world economy is on the verge of a deep recession, but different countries have different responses. Inflation and economic contraction are global and all countries, except Turkey, increase the interest rate. Almost all countries have lower growth rates and increasing unemployment but in US employment increases. Does the retum of American capital to US, a safe heaven, which increases the interest rate, has a role in this process? If so, why the bond res increase, and the stock market is down?