ktlight
25th November 2011, 09:40
FYI:
"The global economy is heading for a massive amount of trouble in the months ahead. Right now we are seeing the beginning of a credit crunch that is shaping up to be very reminiscent of what we saw back in 2008. Investors and big corporations are pulling huge amounts of money out of European banks and nobody wants to lend to those banks right now. We could potentially see dozens of “Lehman Brothers moments” in Europe in 2012. Meanwhile, bond yields on sovereign debt are jumping through the roof all over Europe. That means that European nations that are already drowning in debt are going to find it much more expensive to continue funding that debt. It would be a huge understatement to say that there is “financial chaos” in Europe right now. The European financial system is in so much trouble that it is hard to describe. The instant that they stop receiving bailout money, Greece is going to default. Portugal, Italy, Ireland, Spain and quite a few other European nations are also on the verge of massive financial problems. When the financial dominoes start to fall, the U.S. financial system is going to be dramatically affected as well, because U.S. banks have a huge amount of exposure to European debt. The other day, I noted that investor Jim Rogers is saying that the coming global financial collapse “is going to be worse” than 2008. Sadly, it looks like he is right on the money. We are in a lot of trouble my friends, and things are going to get really, really ugly.
The sad thing is that we never have recovered from the last major financial crisis. Right now, the U.S. economy is far weaker than it was back in 2007. So what is going to happen if we get hit with another financial tsunami? The following is what PIMCO CEO Mohamed El-Erian said recently….
“What’s most terrifying, we are having this discussion about the risk of recession at a time when unemployment is already too high, at a time when a quarter of homeowners are underwater on their mortgages, at a time then the fiscal deficit is at 9 percent and at a time when interest rates are at zero.”
Can things really get much worse than they are now?
Unfortunately, yes they can.
Not that things are not really, really bad right now.
In Los Angeles earlier this week, approximately 10,000 people lined up for free turkey dinners.
So how many people will be lining up for free food when the unemployment rate in the U.S. soars into double digits?
Right now there is so much economic pain in America that it is hard to describe. According to a recent report from one nonprofit group, 45 percentof all people living in the United States “do not have enough money to cover housing, food, healthcare and other basic expenses”.
If this is where we are at now, how much trouble will we be in as a nation if a financial crisis worse than 2008 hits us in 2012?"
I RECOMMEND THAT YOU READ THE ENTIRE ARTICLE
source
http://www.blacklistednews.com/The_Global_Economy_is_in_Big_Trouble/16717/0/38/38/Y/M.html
"The global economy is heading for a massive amount of trouble in the months ahead. Right now we are seeing the beginning of a credit crunch that is shaping up to be very reminiscent of what we saw back in 2008. Investors and big corporations are pulling huge amounts of money out of European banks and nobody wants to lend to those banks right now. We could potentially see dozens of “Lehman Brothers moments” in Europe in 2012. Meanwhile, bond yields on sovereign debt are jumping through the roof all over Europe. That means that European nations that are already drowning in debt are going to find it much more expensive to continue funding that debt. It would be a huge understatement to say that there is “financial chaos” in Europe right now. The European financial system is in so much trouble that it is hard to describe. The instant that they stop receiving bailout money, Greece is going to default. Portugal, Italy, Ireland, Spain and quite a few other European nations are also on the verge of massive financial problems. When the financial dominoes start to fall, the U.S. financial system is going to be dramatically affected as well, because U.S. banks have a huge amount of exposure to European debt. The other day, I noted that investor Jim Rogers is saying that the coming global financial collapse “is going to be worse” than 2008. Sadly, it looks like he is right on the money. We are in a lot of trouble my friends, and things are going to get really, really ugly.
The sad thing is that we never have recovered from the last major financial crisis. Right now, the U.S. economy is far weaker than it was back in 2007. So what is going to happen if we get hit with another financial tsunami? The following is what PIMCO CEO Mohamed El-Erian said recently….
“What’s most terrifying, we are having this discussion about the risk of recession at a time when unemployment is already too high, at a time when a quarter of homeowners are underwater on their mortgages, at a time then the fiscal deficit is at 9 percent and at a time when interest rates are at zero.”
Can things really get much worse than they are now?
Unfortunately, yes they can.
Not that things are not really, really bad right now.
In Los Angeles earlier this week, approximately 10,000 people lined up for free turkey dinners.
So how many people will be lining up for free food when the unemployment rate in the U.S. soars into double digits?
Right now there is so much economic pain in America that it is hard to describe. According to a recent report from one nonprofit group, 45 percentof all people living in the United States “do not have enough money to cover housing, food, healthcare and other basic expenses”.
If this is where we are at now, how much trouble will we be in as a nation if a financial crisis worse than 2008 hits us in 2012?"
I RECOMMEND THAT YOU READ THE ENTIRE ARTICLE
source
http://www.blacklistednews.com/The_Global_Economy_is_in_Big_Trouble/16717/0/38/38/Y/M.html