Posts Tagged recession
From every corner of the globe, the news is bad. The world’s financial situation is in a sad sorry state.
On the European side, the Greeks are in deep shit. There is no way out of the hole they have dug for themselves. This latest ‘bailout’ is a waste of time and effort, and more Euros. In two months they will be doing the Oliver Twist again, “Please Sir, can I have some more?”
Portugal, Spain and Italy will be doing the Oliver Twist too. It’s a dance fad that will spread.
The Americans are the biggest financial joke on the planet. The only reason that the American economy hasn’t collapsed already is that fool Bernake and his printing presses; he has managed to stave off the inevitable, but when it comes, it will be harder and faster than before.
Every hiccough or burp in the markets and the Americans are shouting “The recovery has begun!”…. again. Read my lips, “There is no recovery!” There never has been and there never will be. Since the first bubble burst in 2008, that sealed the fate of the USA.
When it comes to squandering, the USA makes the others look like petty thieves.
Daily, we get new headlines:
Japan watchdog halts fund on fears over lost assets
Japan’s financial watchdog has told an investment firm to halt its operations on suspicion that it has lost most of the $2.3bn (£1.5bn) funds it manages.
Operations at AIJ Investment Advisors, which manages group pension funds for more than a hundred firms, have been suspended for a month.
It came after reports in Japan alleged that the firm may have covered up losses for years.
Authorities said they would also probe all other investment firms in Japan.
“The Financial Services Agency (FSA), together with the labour ministry, will take every possible step to prevent this kind of incident from happening again,” said Shozaburo Jimi, the head of the FSA.
The report has taken analysts and industry watchers by surprise.
“It is very difficult to understand how they were able to hide all these losses,” Yuuki Sakurai of Fukuko Capital Management told the BBC.
Source: BBC News Read more
It just doesn’t stop.
This follows the recent news; The Japanese firm Olympus admitted that it hid $1.7bn in losses for as long as 20 years.
The rot has been around a long time, we are just catching up with the play, for the Americans it started in 1913 with the creation of the Federal Reserve, then got worse in 1971 and has been worsening ever since fueled by America’s golden spending years. Spending… they should have been saving.
The collapse has started, in fact it is well on the way. There is nothing that you nor I nor Obama and every Repugnican and Democrap on the planet can do about it. We will pay.
So, what’s the answer?
Let’s start another war so the mainstream media can take people’s minds off the problem and think the world is rosy.
Economy enters ‘dangerous phase’
The global economy has entered a “dangerous new phase” of sharply lower growth, according to the International Monetary Fund (IMF).
The organisation warned that continuing political and economic woes in the US and eurozone could force them back into recession.
The IMF says the prognosis for economies in the developed world is “weak and bumpy expansion”.
Source (not image, that was my doing): BBC News, Read more
It appears as though someone has finally pulled his/her (can’t be sexist) head out of their anus.
The IMF have woken up. I have been reading exactly this in blogs and non-mainstream media sites for the last two years.
IMF… what a bunch of losers.