Posted on 06/16/2012 6:51:07 AM PDT by TigerLikesRooster
A Global Perfect Storm
15 June 2012
NEW YORK – Dark, lowering financial and economic clouds are, it seems, rolling in from every direction: the eurozone, the United States, China, and elsewhere. Indeed, the global economy in 2013 could be a very difficult environment in which to find shelter.
For starters, the eurozone crisis is worsening, as the euro remains too strong, front-loaded fiscal austerity deepens recession in many member countries, and a credit crunch in the periphery and high oil prices undermine prospects of recovery. The eurozone banking system is becoming balkanized, as cross-border and interbank credit lines are cut off, and capital flight could turn into a full run on periphery banks if, as is likely, Greece stages a disorderly euro exit in the next few months.
Moreover, fiscal and sovereign-debt strains are becoming worse as interest-rate spreads for Spain and Italy have returned to their unsustainable peak levels. Indeed, the eurozone may require not just an international bailout of banks (as recently in Spain), but also a full sovereign bailout at a time when eurozone and international firewalls are insufficient to the task of backstopping both Spain and Italy. As a result, disorderly breakup of the eurozone remains possible.
(Excerpt) Read more at project-syndicate.org ...
How bizarre is that? In Greece he touts conservatism, while in the US he increases the national debt more than all previous Presidents combined.
Google's a little behind the times on that. I started to type "obama greek", and Google wanted to complete with the word columns
, not elections
.
Are you daft, droll or don’t know how to use the board?
I shall not give you more specifics, even though I have requested several times now, for you to provide them to support your premise. See post 13, really it is right there.
If you don’t know what your premise is that started this conversation...I can’t help you.
OK with all due respect, sorry then.
If you’d later care to provide some feedback, if I’m reading then I’ll be happy to provide them.
:D Have a good one.
Bye.
I don’t see China effected at all.From your post #10:China is growing.
All their manufacturing is owned by the government, and 51% of everything. Manufacturing owned for 10 years...
What is wrong with this picture? Why is 4/5 of the planet on starvation wages, China is growing and we’re all sitting around on the edges clapping our hands at their amazing advancement?
My comments continue to be among the only ones on this board, actively considering what happens when China becomes STRONGER AND STRONGER.Are you?
There is more than today. There is tomorrow, and the years after that.
ALL OF WHICH seem pointed in China’s direction. Every single one.
There are no competitors. No shared victories.
Just loss.
There's your context. Now answer the question.
Not sure I see the question, to tell the truth.
I see a statement. Two actually. I see the statement #7 that agrees China is growing.
I see another statement #10, that China continues to grow, and is becoming stronger than we can contain.
In effect, doomage. We can never recover once that point is reached. Every action will be met by a four-times larger force.
Every one.
Remember please, China has four times the exposure we do, numerically.
Do you see something different from that?
Incidentally, do you own anything currently (based) in China?
Thank you.
You made statements not supported by proof or truth.
Prove your premise! Because your statements certainly don’t correlate with reality....
AGAIN....
China: ‘weak growth’ for years, says Credit Suisse
http://blogs.ft.com/beyond-brics/2012/06/14/china-weak-growth-for-years-says-credit-suisse/#axzz1xxuC1WYf
China Government Adviser Predicts Second-Quarter Growth Below 7 Percent
http://www.moneynews.com/StreetTalk/China-growth-economic-slow/2012/06/13/id/442129
China’s `New Normal’ Growth to Slow to 6%
http://www.businessweek.com/videos/2012-06-07/chinas-new-normal-growth-to-slow-to-6-percent
China manufacturing growth slows down
http://www.france24.com/en/20120601-china-manufacturing-growth-slows-down
China’s manufacturing activity grew at a markedly lower rate in May, official data showed Friday, providing further confirmation that the world’s number two economy is slowing rapidly.
Yet even China’s “slower” growth, exceeds anyone else’s.
Even their “slower” growth is fast growth.
That was my point. What was yours please?
No, sorry. No twisting out of this one. They are contracting not growing.
Oh. I see.
Which statement please?...
And why should I not pay equal attention to the others?
I see “China continues rapid growth” stories.
The title is “Greek Election Poses the Next Major Threat - Country's Decision on Whether to Remain in Euro Zone Could Have Huge Impact on U.S. Economy and Presidential Vote”.
The real economy has barely grown in the last 10 years but debt of all kinds has exploded, plan for mass defaults.
I see “China continues rapid growth” stories.
Those stories are true, but inaccurate. Growth is slowing. That's undeniable. You say that their slower growth is still faster than anyone else's. But that's mostly illusion. Manipulation of their currency, building entire cities that then stand empty, and the Chinese media reporting what they're told to report.
All the scholarly or even simply thoughtful analysis says the Chinese economy is heading down, and that will accelerate. The stagnating economies of the western and developing countries will mean less money coming into china via exports, and that will probably be the final nail.
Incidentally, do you own anything currently (based) in China?
No I don't. Is that relevant somehow?
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