Maybe the worst will pass without incident?
China – deflated/deflating but not crashing (as long as growth is +3% and their government stays stable…seems good enough for me)
Startups – early/late stage companies in soft landing with repricing of seed, venture, unicorn, IPO and public prices for tech companies
Oil – it’s cheap now after being very expensive
Coal – it’s cheap now
Credit markets related to Fed policy – I don’t know how stable or unstable this will be
Deflating bubble vs. bursting is all about instability. The world seems relatively stable (compared to any comparable 3 year period in 100 years, though perhaps not compared to your ideal world fantasies).
Bubble deflation tracker — http://beta.knotable.com/p/LTcQOh/Clipfile_on_the_Bubbles_of_20