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'Worse than 2007': Top banker warns of looming wave of worldwide bankruptcies
Business Insider ^
| 1/20/2016
| David Scutt
Posted on 01/20/2016 11:44:23 AM PST by Roman_War_Criminal
The world's financial system has become dangerously unstable and faces an avalanche of bankruptcies that will test social and political stability, according to a leading global banker.
William White, chairman of the OECD's review committee and former chief economist of the Bank for International Settlements, suggests the stresses in the financial system are "worse than it was in 2007."
Speaking with the UK Telegraph's Ambrose Evans-Pritchard before the start of the World Economic Forum in Davos, Switzerland, White warned that macroeconomic ammunition to fight further economic downturns was essentially "all used up."
(Excerpt) Read more at businessinsider.com ...
TOPICS: Business/Economy; News/Current Events
KEYWORDS: bankruptcies; bond; collapse; default; economy; oil; recession
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To: Roman_War_Criminal
These frauds act like it’s all happened overnight. They’ve seen it coming but to say anything would hurt Obama.
To: Roman_War_Criminal
"It's easy to grin, when you're ship comes in and you've got the stock market beat."
"But the man worthwhile, is the man who can smile, when his shorts are too tight in the seat."
To: Snickering Hound
I want a milkshake, and a cheese burger, and a hot dog, and...
4
posted on
01/20/2016 11:50:25 AM PST
by
ConservativeWarrior
(Fall down 7 times, stand up 8. - Japanese proverb)
To: Roman_War_Criminal
"Stay Calm Folks! ...Nothing To Worry About ...Our Economy Is Best Ever!"
5
posted on
01/20/2016 11:51:23 AM PST
by
TexasCajun
(#BlackViolenceMatters)
To: TexasCajun
LOL! Just in time as Obola’s presidency comes to an end.
To: VerySadAmerican
Exactly. It’s going to help Trump. But will be terrible.
China is collapsing. The oil market (and middle east) is on fire and collapsing.
Obama’s state of delusion speech needs to be played against what’s really going on in the world. Good TV ad.
To: Roman_War_Criminal
I'm sitting here patiently, waiting for a call from the FDIC...lol. I was one of nearly 1000 temporary employees hired in Dallas during the last crisis. Great agency to work for.
The amount of work generated by the closure of a large bank will be massive compared to the community banks that were closed.
I don't think we're there yet.
8
posted on
01/20/2016 11:56:29 AM PST
by
Night Hides Not
(Remember the Alamo! Remember Goliad! Remember Mississippi! My vote is going to Cruz.)
To: Roman_War_Criminal
Based on this story I left a message at home. Sell the house, sell the car, sell the kids, find someone else I’m never coming home.
9
posted on
01/20/2016 11:56:44 AM PST
by
soupbone1
To: Roman_War_Criminal
Odd how these financial crises keep happening every 8 years, around Presidential election time.
10
posted on
01/20/2016 11:58:33 AM PST
by
rightwingintelligentsia
(Democrats: The perfect party for the helpless and stupid, and those who would rule over them.)
To: ConservativeWarrior
“You’ll get nothing and like it!”
My takeaway from this story...
11
posted on
01/20/2016 12:02:49 PM PST
by
L,TOWM
(Is it still too soon to start shooting? [No social transformation without representation])
To: Roman_War_Criminal
"Stop stealing my act Barack!"
12
posted on
01/20/2016 12:04:25 PM PST
by
TexasCajun
(#BlackViolenceMatters)
To: rightwingintelligentsia
"every 8 years"
Yes, I've noticed.
Business cycle or something sinister?
13
posted on
01/20/2016 12:06:02 PM PST
by
Pietro
To: Roman_War_Criminal
In W's waning days, he wanted to prop up the auto industry and the banking industry. From the resulting wave of anger sprang the Tea Party - which wanted to chips to fall and the dirty-dealers to pay. Instead, he rushed in sending good money after bad and the muslim successor quadrupled down with QEinfinity.
14
posted on
01/20/2016 12:06:47 PM PST
by
Sgt_Schultze
(If a border fence isn't effective, why is there a border fence around the White House?)
To: Roman_War_Criminal
Yep, the Great Oil Crash of 2015 (and 2016). We found out that after moving our manufacturing base to foreign countries, oil production was all that we had.
;-)
15
posted on
01/20/2016 12:09:09 PM PST
by
familyop
("Welcome to Costco. I love you." --Costco greeter in "Idiocracy")
To: Roman_War_Criminal
Are financial advisor’s urging their customers to pour more and more of their money into the market? They sure are.
16
posted on
01/20/2016 12:12:25 PM PST
by
SkyPilot
("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
To: Roman_War_Criminal
"It will become obvious in the next recession that many of these debts will never be serviced or repaid, and this will be uncomfortable for a lot of people who think they own assets that are worth something."
17
posted on
01/20/2016 12:14:18 PM PST
by
SkyPilot
("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
To: Roman_War_Criminal
18
posted on
01/20/2016 12:17:41 PM PST
by
dragnet2
(Diversion and evasion are tools of deceit)
To: Roman_War_Criminal
Last week, Obama stated:
“Do not believe those who say we’re in decline”.
19
posted on
01/20/2016 12:19:17 PM PST
by
dragnet2
(Diversion and evasion are tools of deceit)
To: dragnet2
Last week, Obama stated:
âDo not believe those who say weâre in declineâ.
When a president says that, that is a signal for SELL SELL SELL
20
posted on
01/20/2016 12:25:43 PM PST
by
arl295
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