Summer 2008 Alert: World plunges into heart of global systemic crisis

Summer 2008 Alert: World plunges into heart of global systemic crisis

www.leap2020.eu

July-December 2008

1. A Dollar in distress (EUR 1 = USD 1.75 at the end of 2008): Panic-fear of a US currency and economy collapse eats into the American collective psyche

2. Global financial system: An impossible requirement – placing Washington under international trusteeship – provokes the system's break

3. European Union: The periphery sinks into the recession, the Eurozone only slows down

4. Asia: The « double whammy » inflation/export-collapse

5. Latin America: Difficulties increase but growth remains steady in most parts of the region, Mexico and Argentina in crisis

6. Arab world: Pro-Western regimes go adrift / 60 percent risk of socio-political explosion on Egypt-Morocco axis

7. Iran: 70 percent probability of an attack by October 2008 confirmed

8. Banks/Speculative bubbles: When bubbles collide

(visit the link for the full news article)

I found this report to be interesting, most of the finance info I read originates in the US, this report comes from a European point of view. It mirrors my own (somewhat uneducated) expectations.

The report suggests that the necessary steps which must be taken by the Fed to avert a dollar collapse would in themselves be devastating to the financial system. It seems to me that the only thing being done at this time is to reassure the public that things are ok when in reality, we are in a damned if we do (take steps), and damned if we don't. It's pretty much a foregone conclusion that the remainder of this year is going to be a culmination of many distinct crises all breaking loose at the same time.

The article at the source link is only a short excerpt of a 31 page report (subscription based). I'd be interested to hear what any of you make of this.



www.leap2020.eu
(visit the link for the full news article)

[edit on 18-6-2008 by SystemiK]

It looks like a good assenment.

For the past few years, the world has been moving in this direction.

Everything is lineing up, everything is on the bubble.

Everything is in place for something Major on a Global scale, all that needs to happen now is the spark to set it off...

This doesn't even take into account (the quote, I admit that I didn't read the article) the damage that is being done worldwide by rising fuel and food costs. Combine that with the increasing natural disasters and things just don't look good.

I am hoping that the lack of solar activity will keep the powerful hurricanes to a minimum this year, because one big one going through the gulf and we will be looking at $6.00/gal for gas (in the states).

reply to post by Karlhungis


Agreed on that, natural disasters are the wildcard right now that no one can predict, and economies are more vulnerable than ever to their effects.

If nothing else, I'd highly suggest reading the last 3 or 4 paragraphs of the article, it puts into the clearest language I've read, just what a stink we are in and why we are locked into it.