Does this mean you **** skinned turd world ****s will return to India?
"indiaBPOking" <indiabpoking@[EMAIL PROTECTED]
> wrote in message
news:7faa400b-0699-4516-8e3a-c5501f98156c@[EMAIL PROTECTED]
> http://www.intelligencer.ca/ArticleDisplay.aspx?e=918803
>
> And you thought that I had a gloomy outlook on the economy. Now the
> bad news pops up everywhere.
>
> Harry Koza in the Globe and Mail quotes Bernard Connelly, the global
> strategist at Banque AIG in London, who claims that the likelihood of
> a Great Depression is growing by the day.
>
> Martin Wolf, celebrated columnist of the U.K.-based Financial Times,
> cites Dr. Nouriel Roubini of the New York University's Stern School of
> Business, who, in 12 steps, outlines how the losses of the American
> financial system will grow to more than $1 trillion - that's one
> million times $1 million. That amount is equal to all the assets of
> all American banks.
>
> Every day now, thousands of people all over the U.S. and Great Britain
> are walking away from their homes - simply mailing their house keys to
> the banks - as housing bailout plans fail.
>
> With unemployment growing, the next phase will hit commercial real
> estate making the financial institutions the unwilling owners not only
> of quickly depreciating houses, but also of empty strip malls and even
> larger shopping centres.
>
> The next domino to fall will be credit card defaults, and after
> that... who knows? There are so many exotic funds out there, with
> trillions of dollars in paper - or rather computer-screen money - all
> carrying assorted acronyms, and all about to disintegrate into
> nothingness. Over the next couple of years, scores of banks that have
> thrived on these devices, based on quickly disappearing equities, will
> fail.
>
> The most frightening forecast so far comes from the Global Europe
> Anticipation Bulletin (GEAB), available for 200 euros - about $300 -
> for 16 issues annually. Its prediction is quite specific.
>
> Where my warnings never spelled out an exact date, this think tank has
> it pegged precisely. Here are its very words:
>
> "The end of the third quarter of 2008 (thus late September, a mere
> seven months from now) will be marked by a new tipping point in the
> unfolding of the global systemic crisis.
>
> "At that time indeed, the ***ulated impact of the various sequences of
> the crisis will reach its maximum strength and affect decisively the
> very heart of the systems concerned, on the front line of which (is)
> the United States, epicentre of the current crisis.
>
> "In the United States, this new tipping point will translate into -
> get this - a collapse of the real economy, (the) final socio-economic
> stage of the serial bursting of the housing and financial bubbles and
> of the pursuance of the U.S. dollar fall. The collapse of U.S. real
> economy means the virtual freeze of the American economic machinery:
> private and public bankruptcies in large numbers, companies and public
> services closing down."
>
> The re****t goes on to say that we are entering a period for which
> there is no historic precedent. Any comparisons with previous
> situations in our modern economy are invalid.
>
> We are not experiencing a "remake" of the 1929 crisis nor a repetition
> of the 1970s oil crises or 1987 stock market crisis.
>
> What we will have, instead, is truly a global momentous threat - a
> true turning point affecting the entire planet and questioning the
> very foundations of the international system upon which the world was
> organized in the last decades.
>
> The re****t emphasizes that it is, first and foremost, in the United
> States where this historic happening is taking an unprecedented shape
> (the authors call it "Very Great U.S. Depression").
>
> It continues to predict that, although this crucial event is global,
> it will be the beginning of an economic 'decoupling' between the U.S.
> and the rest of the world. However, non 'decoupled' economies will be
> dragged down the U.S. negative spiral.
>
> Concerning stock markets, the GEAB anticipates that international
> stocks would plummet by 40 to 80 per cent depending where in the world
> they are located, all affected in the course of the year 2008 by the
> collapse of the real economy in the U.S. by the end of summer.
>
> The European authors of this re****t - it appears simultaneously in
> French, German and English - state that they simply and without
> prejudice try to describe in advance the consequences of the ominous
> trends at play in this 21st-century world, and to share these with
> their readers, so that they can take the proper means to protect
> themselves from the most negative effects.
>
> So there you have it. Three re****ts from three different sources, all
> well regarded, and all pointing to a disastrous fall-out from our
> monetary moves.
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