Many eyes are glued on the upcoming European Central Bank decision on quantitative easing. How can they not? It’s not like they have much choice. Besides the unevenly-based US jobs recovery, the US is the only bright spot on the global finance market. Many key European economies are either already near recession territory or getting dangerously close to it. If there were ever any doubts that China’s once reliable economic engine is showing signs of sputtering, all those doubts were laid to rest with the recent round of housing numbers. They aren’t encouraging at all.