Imminent Global Economic Crash Confirmed!

EU warns of economic damage if Greece summit fails

Reuters EU leaders must find a convincing solution to Greece's debt crisis at a summit on Thursday or the global economy will pay the price, the head of the European Commission said in an unusually sombre warning. Jose Manuel Barroso delivered the message as officials of the 17-nation currency area and bankers struggled to pin down a package of measures to persuade markets Greece can be saved from default and the rest of the euro zone from contagion.

The fact of the matter is Greece will fail. This isn't me being pessimistic this is me being realistic. No matter what the EU does it will only delay the crash in Greece. After Greece crashes the Euro, Dollar and Pound will fail. It is inevitable. The only question is when this will happen. My best bet is soon. Very soon.

"Nobody should be under any illusion: the situation is very serious. It requires a response, otherwise the negative consequences will be felt in all corners of Europe and beyond," Barroso told a news conference.

He said the elements of a solution must include: measures to ensure the sustainability of Greek public finances, private sector involvement in funding for Athens, more flexible use of the euro zone's EFSF bailout fund, repair of the region's banking system and liquidity to keep the economy going.

The thing is the EU knows they are just delaying the crash and we here all know that serious situations like this are often downplayed in order to stem public panic. This article in my opinion genuinely warns of an imminent crash. Its not like they are going to say 'We are delaying the inevitable crash but overall we are .. screwed'

That would cause pandemonium and bring about the crash a lot quicker. There are a lot of powerful and rich entities preparing for this global crash so time is of the essence. Of course there is still a lot of talk of conspiracy to orchestrate and execute this global meltdown for the intentions of bringing about a one world government.

But that is another thread entirely.

Might be the time to finally start stocking up on non perishable food and water..
Reuters

I grow my own veg and *wink* greens, bring on the hard times Im ready

reply to post by michaelmcclen
Its really annoying because there are next to no jobs in the southeast of England. I've been to countless interviews and no results. I am great in the interview environment but there are just too many people and too little jobs..

I need one soon though so I can actually afford a decent survival kit and plan..

Originally posted by michaelmcclen
I grow my own veg and *wink* greens, bring on the hard times Im ready

Ah good..... I know where you live .......!

PDUK

reply to post by TechUnique


TU

Your thread is actually MORE important than the Murdoch empire saga and the shananigans of the Police, MP's and everyone one else with their ''noses in the trough''

It is a little like the 'fall of Rome''......... The Euro is fatally flawed because member countries do things differently.... retire at different ages, buy and sell in different ways, expect benefits and subsidies in different ways, pay different (or NO taxes).....don't feel sorry for Greece.......... the Greeks have been living in a state of take take take for along time..... and to coin a phrase from ''Dads Army''...... they (the public) don't like it up em !!

There was talk today of a compromise around two different Euro currencies.............. one for the richer nations and the other for the rest......

My Idea is this..... Make the Pound (£) the MAIN currency in Europe and the secondary currency the (€) the Euro.... there you go ...job done........

PDUK

If you can swim across over to Eire your more than welcome =)

Im a 23 and when I seen two years ago that all the jobs would dry up I decided to go back to Uni and complete a degree in Psy simple because I knew there would be no job prospects about for the next, at least 5 years so Im sorted by spending my day studying.

On the other hand I constantly hear how bad the job situation is over here, I have friends filling out at least 20 job applications a week for jobs and not even getting interviews or Im hearing from places employing that are recieving 500 job applications for 1 bar position.

For the topic of growing my own, there is a river behind me filled with fish and a few fields with game and barliey becide also. And 2 springers trained to hunt Im gonna be cool.

I'm ready to withdraw my money to protect it

reply to post by LaTouffe


Um.... it wont matter!!!!!! Money wont matter any more!

its rather funny how the global economy is crashing all of a sudden isnt it?

Originally posted by shadowreborn89
its rather funny how the global economy is crashing all of a sudden isnt it?

Nowt sudden about it at all.

A similar ominous and dire outlook in comments I cite in my other thread here. It will be the 'make or break' summit and I guess they will invent some kind of band aid plan to keep things going for another week before having to reconvene another crisis meeting. The more time the bigger the collapse as sovereigns around the world continue mounting bigger debts and / or become increasingly entangled in the web by way of bad investment (Eg China's generous investments in EU and US debts).

Originally posted by TechUnique
reply to post by michaelmcclen

 

Its really annoying because there are next to no jobs in the southeast of England. I've been to countless interviews and no results. I am great in the interview environment but there are just too many people and too little jobs..

I need one soon though so I can actually afford a decent survival kit and plan..

i hear ya .. Star & flag for this, due to the members on ATS forums screaming about the mortgage collapse, 18months before it happened, I started looking into these thread alot more~!!! Thx for the this~!

Same here, getting ready to move out of this hell hole of a house we got ourselves into 'kinda' .. after watching the documentary last night called 'The Inside Job' ........it's VERY apparent the financial markets, even around the world, are being manipulated..

Nearly every single CEO, or person involved in the banks bail out or high positions in the entire debacle are now .........in the white house~! Wow... ! Tell me they don't know what their doing ~!

the manufacturing floor of a mini corp I work for in '09, after being laid off, Laid off again 1 week ago.......so it's still spiraling down like a fighter jet with a complete flame out with no fuel to restart the engines..

I've actually considered the thought of moving in with family, hmmmmmmmmmm... however, the wife doesn't go for the idea. I just hope that UI payments continue other wise..........the USA will be plunged into massive chaos ..since 13million are out of jobs in the US....with no way to pay for food,clothing or shelter, it will be REALLY interesting how it unfolds.

If UI payments do hold out, we'll need to be living as cheep as possible even still.

My take? TPTB are forcefully constructing a 'package' with the an offer you can't refuse or want to.

reply to post by LaTouffe


Why wait~!!!! Do it now.. the banks in the US can handle it .. they'll just get bailed out if there's a run

reply to post by michaelmcclen


Well, problem is, schools are being manipulated as well, school loans NEVER go away in the USA, you can NOT wipe them out in bankruptcy; thus, I cant take out a loan because I'd never be able to pay it back because....there are no jobs, every market it flooded, wife applied for a .......basic payroll accounting job 18 months ago with the county...BASIC payroll were talking here..

600 people showed up and 3/4 were with bachelors or higher ~!

Love reading some of the articles this morning (AEST):

Investors are hoarding gold and cash as a perfect storm brews in global equities and credit markets.

Volatile equity markets coupled with the growing risk of sovereign bond default are sparking a rush to defensive assets, fund managers and investment strategists said, with little sign of sanctuary seen in any major global economy.

Funds run for cover from perfect storm

Germany is criticised for blocking “scope for more flexible action through the European Financial Stability Facility”. France is to blame holding up "repair of the banking sector" and the ECB for failing "to ensure the provision of liquidity to our banking system".

But despite the intervention, diplomats and officials have remained pessimistic about the outcome of the summit. “It feels like another fudge is being cooked up. Nothing learned, nothing ventured, nothing gained,” said an official.

One diplomat close to talks suggested that the euro could face “its splat moment”.

“There is a sense of crisis but the panic is leading to paralysis. Eurozone leaders are like a rabbit caught in the headlights and the truck is rocketing towards them,” he said.

Euro could face its 'splat moment' as Jose Manuel Barroso breaks cover

The sense of urgency in the news today is very apparent. Here's hoping the summit the pulls a rabbit or two out of a hat.

reply to post by LaTouffe


Withdarwing your money won't protect it. Doesn't matter if it is in a bank or held in cash. When inflation bites, you still will only be able to buy nothing with it.

Metal is the only protector against it.

The G to S ratio is now less than 40.

Expect things to pick up pace!

Do the chinese buy up the euro like they do the dollar? If so, if both collapse here in the next few weeks could that drag them down with us? Who owns huge chunks of greek debt?
Kind of wondering if anyone would come out on top of this one or will everyone be screwed?

so..finally we see the effects of corporate americas globalization*

I suspect we are looking at a new twist... the Birth of a Federal Europe.

and I'm expecting noises of deeper integration coming from France and Germany about the future of the Eurozone.

As much as I would like to see an end to the EU I simply do not see that happening..

Originally posted by john124

Originally posted by shadowreborn89
its rather funny how the global economy is crashing all of a sudden isnt it?

Nowt sudden about it at all.

What u mean not sudden? seems pretty sudden if you ask me.. its been in a crash almost for the past decade...