The Zioconned Western Oligarchy has nothing left in its armory, except La Fuite En Avant with a New War....
This crisis has a long way to go yet, and please don't think that Britain and America are insulated from it....by projecting EU sovereign debt troubles and the colored Revolutions to the forefront of the daily stupid NEWS by the MSM crooks....
The problems of sovereign debt (including British debt) will not be solved by austerity and it is inevitable that both Greece and other countries (Italy?) will default, triggering bank collapses on both sides of the Atlantic whether those rotten CDS's do their work or not and despite the tender ministrations of the ECB. There are still trillions of derivative related toxic debt that needs to be destroyed as well....
As for America, the Fed has nothing left in its Zioconned and crooked armory.....
What also concerns me is that my sources tell me that Chinese economic data (for public consumption) is unreliable and that the rate and magnitude of their slowdown is deliberately understated. That may play hell with commodity markets and the Australian dollar.....and other matters....
At club the other day I have never seen a more depressed and frightened group of financiers. No black humor, no nothing.....
This senior Bank economist let the cat out of the bag a week ago:
""I've never been as scared about the outlook for global economy, and particularly in Europe and USA, at any time in my past 25 years as an economist," he told a Westpac conference in Rockhampton, Queensland, yesterday.
"I've started smoking; I can't get to sleep at night. Markets are freezing up, banks are losing access to credit and funding; things are even worse than you are reading about...."
The economic turmoil in Europe and the US is nearing "catastrophic" proportions, one of the nation's leading banks warned yesterday, as it predicted a plunge in the dollar to less than US80c and three interest rate cuts next year....down under.....
James Shugg, Westpac's London-based senior economist, said the bank was preparing to slash its global growth forecasts from 3.2 per cent to 2.5 per cent for next year, to adjust to the deepening financial chaos in Europe and across the Globe.....
No comments:
Post a Comment