perceptions_now wrote on Oct 1^st, 2011 at 6:53pm:


your answer to everything pinhead is 'it has all changed' which despite the fact that it hasnt is a pointless response because if it truly HAS all changed then you dont have any more idea than anyone else.

and as I look around me I see a world economy that is stressed. hmmm how many times have I seen that inthe past 50 years? only about 20 times. and yet capitalism seems to emerge from every struggle. you predicted the GFC would destroy the worlds economy and you were wrong. youve been wrong on well, pretty much everything so I can confidently say when you make a prediction that truth is to be found 180 degrees from your direction.

What is it with the doom and gloom brigade on here?

With the racists you can assume they've copped a smack at some time from one or more of our more swarthy brothers (or sisters), but what's the go with the doom and gloom brigade?

By the "doom and gloom brigade" I was referring to perceptions, equatist, pansi, bobby, nails et al.

longweekend58 wrote on Oct 1^st, 2011 at 7:00pm:


Well LW, let's just wait & see, as I've said even you you start to get the idea what's happening, by around the end of 2012?

But, in the mean time, you may want to consider how many once in history events are now driving Global Economics?

That is, if you can pull your head out of the past, long enough and you have any idea what is actually driving the Global Economy?

Author on Outlook for "The Great Crash Ahead"

Sept. 30 (Bloomberg) -- Harry Dent, founder of economic advisory firm HS Dent and author of "The Great Crash Ahead," talks about the outlook for the U.S. economy.

Embedded video -
http://www.bloomberg.com/video/76381224/
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This may give you some hints on one of the other influencing factors?

That said, this guy falls into the one trick pony brigade and there isn't just one cause, there are a few!

At the risk of over exposing the optimists to some expert opinion I will post this article. There are plenty of similar ones on the www if you get your head out of the sand long enough to do a search longweekend. Believe it or not.
...........................................................................

Economists: Another Financial Crisis on the Way

Even as many Americans still struggle to recover from the country's worst economic downturn since the Great Depression, another crisis – one that will be even worse than the current one – is looming, according to a new report from a group of leading economists, financiers, and former federal regulators.

In the report, the panel, which includes Rob Johnson of the United Nations Commission of Experts on Finance and bailout watchdog Elizabeth Warren, warns that financial regulatory reform measures proposed by the Obama administration and Congress must be beefed up to prevent banks from continuing to engage in high-risk investing that precipitated the near-collapse of the U.S. economy in 2008.

The report warns that the country is now immersed in a "doomsday cycle" wherein banks use borrowed money to take massive risks in an attempt to pay big dividends to shareholders and big bonuses to management – and when the risks go wrong, the banks receive taxpayer bailouts from the government.

"Risk-taking at banks," the report cautions, "will soon be larger than ever."

Without more stringent reforms, "another crisis – a bigger crisis that weakens both our financial sector and our larger economy – is more than predictable, it is inevitable," Johnson says in the report, commissioned by the nonpartisan Roosevelt Institute.

The institute's chief economist, Nobel Prize-winner Joseph Stiglitz, calls the report "an important point of departure for a debate on where we are on the road to regulatory reform."

The report blasts some of Washington's key players. Johnson writes, "Our government leaders have shown little capacity to fix the flaws in our market system." Two other panelists, Simon Johnson, a professor at MIT, and Peter Boone of the Centre for Economic Performance, voiced similar criticisms.

Federal Reserve Chairman Ben Bernanke and Treasury Secretary Tim Geithner "oversaw policy as the bubble was inflating," write Johnson and Boone, and "these same men are now designing our 'rescue.'"

The study says that "In 2008-09, we came remarkably close to another Great Depression. Next time we may not be so 'lucky.' The threat of the doomsday cycle remains strong and growing," they say. "What will happen when the next shock hits? We may be nearing the stage where the answer will be – just as it was in the Great Depression – a calamitous global collapse."

The panelists call for major banks to maintain liquid capital of at least 15 to 25 percent of their assets, the enactment of stiffer consequences for executives of bailout recipients and for government officials to start breaking up firms that grow too big.

In the report, Elizabeth Warren, who was chair of the Congressional Oversight Panel, reiterates her calls for an independent agency to protect consumers from abusive Wall Street practices.

"While manufacturers have developed iPods and flat-screen televisions, the financial industry has perfected the art of offering mortgages, credit cards and check overdrafts laden with hidden terms that obscure price and risk," Warren writes. "Good products are mixed with dangerous products, and consumers are left on their own to try to sort out which is which. The consequences can be disastrous."

http://abcnews.go.com/Business/economists-warn-financial-us-economy/story?id=999...

Ex Dame Pansi wrote on Oct 2^nd, 2011 at 7:20am:




pansi you have a greater understanding of all this.... but why cant they just wipe the slate clean.. and start over???????

I mean where does all this credit/money come from in the first place..??

I am begining to wonder if there is such a thing as a well managed country to be honest..

as for Greece isnt it time the good folk over there came to the conclusion that their govt cannot change their position unless they change their BAD WAYS..and that mean everyone not just the govt..sheeeez it aint rocket science......or is it?