• Nobel Laureate Says Globe Headed For Financial “Breakdown” and “Radicalism” (EWG, FXE, VGK, EUO, VWO
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[quote]Dominique de Kevelioc de Bailleul: The world is in the midst of a complete global economic “breakdown,” according to Nobel Laureate economist Paul Krugman, with the implications of political “radicalism” quickly brewing in Europe and the United States. “We are living through a time where we face an enormous economic challenge,” Krugman told Russia Today (RT). “We are facing — obviously — the worst challenge in 80 years and we are totally mucking up the response.” Traders of German Bunds and U.S. Treasuries agree and have sold PIIGS paper for other paper higher up on the food chain. As a result, rates on Bunds and Treasuries have reached record-low levels Wednesday of 1.59 and 1.23 percent, respectively—levels that Dan Norcini of Jim Sinclair’s JSMineset.com said signals a Lehman-times-10 event around the corner. With Spain’s 10-year note spread higher by 520 basis points more than the yield on 10-year Bunds, a near-record level as well as depositors decidedly motioning into a trotting bank run on Spanish banks, Europe is again on the slippery slope to doom. Krugman blames policymakers for the impending crash, fearing a replay of Nazi Germany as a result of a radical drop in standards of living on both sides of the Atlantic due to Germany’s (NYSEARCA:EWG) refusal to inflate the euro (NYSEARCA:FXE). “We’re doing a terrible job. We’re failing to deal with it,” Krugman added. “All of the people, the respectable people, the serious people, have made a total hash of this. That is a recipe for radicalism. It is a recipe for breakdown.” Forcing nations to swallow austerity contributed greatly to the rise of the Third Reich following severe reparations exacted upon Germany post-WWI—a mistake Krugman doesn’t forthrightly say in the RT interview, but may be inferred by his Jewishness, gleaned through numerous posts on his NYTimes Web blog and attributed to his notorious allegiance to a failed monetary system under intense fire from people of all nations affected by the crisis. For the first time since the creation of the Fed, for example, the majority of Americans now understand that the Fed is not a public institution, but an independent one. “End the Fed” is almost as common a slogan today as “End the War in Vietnam” was during the presidency of Richard Nixon (1969-1975). In Europe (NYSEARCA:VGK), at the tip of the spear between the Brussels globalists (by the American proxy, the Fed) and the people of Europe is Germany, where the political heat of rising nationalism and scapegoating of Arab and Turk immigrants, in particular, has emerged and reported by international press. “No other religion in Europe makes so many demands. No immigrant group other than Muslims is so strongly connected with claims on the welfare state and crime,” best-selling author, former German politician and Bundesbank board member, Thilo Sarrazin, stated in German cultural quarterly Lettre Internationat of Sept. 2009. “No group emphasizes their differences so strongly in public, especially through women’s clothing. In no other religion is the transition to violence, dictatorship and terrorism so fluid.” And, May 21, 2012, Israel Business published a Reuters article about Sarrazin’s newly released book, Europe Doesn’t Need the Euro, within which, he argued that Germany is being blackmailed by the EU to bailout the PIIGS to make further reparations for WWII. Germany’s globalists “are driven by that very German reflex, that we can only finally atone for the Holocaust and World War II when we have put all our interests and money into European hands,” he stated in his book. Germany’s initial bailout of Greece shows Germany’s “susceptibility to blackmail”, Sarrazin wrote, suggesting that crimes committed by the Nazi Party will be asked to be repeatedly atoned. “This politics is turning Germany into a hostage of all those in the euro zone who may in the future, for whatever reason, need help,” he stated. Krugman believes the West may have reached a tipping point, not only in the sovereign debt crisis, but in the social order, as well. “There are a lot of ugly forces being unleashed in our societies on both sides of the Atlantic because our economic policy has been such a dismal failure, because we are refusing to listen to the lessons of history,” he told RT. “We may look back at this thirty years from now and say, ‘That is when it all fell apart.’ And by all, I don’t just mean the economy.” Related: Vanguard European ETF (NYSEARCA:VGK), ProShares UltraShort Euro ETF (NYSEARCA:EUO), CurrencyShares Euro Trust (NYSEARCA:FXE), Vanguard MSCI Emerging Markets ETF(NYSEARCA:VWO), iShares MSCI Germany Index (NYSEARCA:EWG). By Dominique de Kevelioc de Bailleul From Beacon Equity Research BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.[/quote] [url]http://etfdailynews.com/2012/06/01/nobel-laureate-says-globe-headed-for-financial-breakdown-and-radicalism-ewg-fxe-vgk-euo-vwo/[/url]
Rich people will survive, undoubtedly. They'll go build a utopia in Colorado or some shit. :v:
[QUOTE=Madman_Andre;36192379]Rich people will survive, undoubtedly. They'll go build a utopia in Colorado or some shit. :v:[/QUOTE] Not really. At one point nobody will care about your money, and mainly not about the money you had on accounts and banks. At one point, only thing that will matter will be how conveniently placed your home is, how tall fence you have, and if you can defend yourself. And if you are lucky, obviously. By the way, something similar [URL="http://facepunch.com/threads/1175514"]has been predicted for decades.[/URL]. Don't get comfortable with your first world life. It might get a bit rough in foreseeable future. And this isn't misunderstood mayan tablets. It's mathematics and decades of studies of our society.
[QUOTE=Awesomecaek;36192438]Not really. At one point nobody will care about your money, and mainly not about the money you had on accounts and banks. At one point, only thing that will matter will be how conveniently placed your home is, how tall fence you have, and if you can defend yourself. And if you are lucky, obviously. By the way, something similar [URL="http://facepunch.com/threads/1175514"]has been predicted for decades.[/URL]. Don't get comfortable with your first world life. It might get a bit rough in foreseeable future. And this isn't misunderstood mayan tablets. It's mathematics and decades of studies of our society.[/QUOTE] Its a commissioned report, you really need to take it with a grain of salt.
Everybody always says their era in history will be the end of the world or a golden era.
[quote]“We are living through a time where we face an enormous economic challenge,” Krugman told Russia Today (RT). “We are facing — obviously — the worst challenge in 80 years and we are totally mucking up the response.”[/quote] Read this as "we are totally fucking up the response". Thought that was a bit blunt there, Mr. Krugman!
Yeah, I've been thinking about this for a while. It seems like the only way our world is ever going to get unfucked; to realise how shite things become and going back to the old way through wars/revolution/protest/whatever. Doesn't feel good, but I expect there'll be a lot of anarchy involved.
[QUOTE=Awesomecaek;36192438]Not really. At one point nobody will care about your money, and mainly not about the money you had on accounts and banks. At one point, only thing that will matter will be how conveniently placed your home is, how tall fence you have, and if you can defend yourself. And if you are lucky, obviously. By the way, something similar [URL="http://facepunch.com/threads/1175514"]has been predicted for decades.[/URL]. Don't get comfortable with your first world life. It might get a bit rough in foreseeable future. And this isn't misunderstood mayan tablets. It's mathematics and decades of studies of our society.[/QUOTE] Rich people will generally fare better than poor people actually. The one regime where they run into issue is communision. But during an economic collapse, the rich still own a) non fiscal wealth - which tends to be stable b) production wealth As a result, their positions tend to be a huge deal more stable. Then there's an important thing - even though economies are having issues - mega corps are still showing profits and going well.
[quote]"[R]ight now it looks as if the economy is stalling..." — Paul Krugman, September 2002 "We have a sluggish economy, which is, for all practical purposes, in recession..." — Paul Krugman, May 2003 "An oil-driven recession does not look at all far-fetched." — Paul Krugman, May 2004 "[A] mild form of stagflation - rising inflation in an economy still well short of full employment - has already arrived." — Paul Krugman, April 2005 "If housing prices actually started falling, we'd be looking at [an economy pushed] right back into recession. That's why it's so ominous to see signs that America's housing market ... is approaching the final, feverish stages of a speculative bubble." — Paul Krugman, May 2005 "In fact, a growing number of economists are using the "R" word [i.e., "recession"] for 2006." - Paul Krugman, August 2005 "But based on what we know now, there’s an economic slowdown coming." - Paul Krugman, August 2006 "this kind of confusion about what’s going on is what typically happens when the economy is at a turning point, when an economic expansion is about to turn into a recession" - Paul Krugman, December 2006 "Right now, statistical models ... give roughly even odds that we’re about to experience a formal recession. ... [T]he odds are very good — maybe 2 to 1 — that 2007 will be a very tough year." - Paul Krugman, December 2006 [/quote] http://www.qando.net/details.aspx?entry=7625 But this time he must be right!
[QUOTE=Earthen;36192542]Its a commissioned report, you really need to take it with a grain of salt.[/QUOTE] [quote]However, the study also noted that unlimited economic growth was possible, if governments forged policies and invested in technologies to regulate the expansion of humanity’s ecological footprint[/quote] Hello sir, I have discovered that you have cancer! Please pay $99.99, or you will die.
[QUOTE=wraithcat;36194322]Rich people will generally fare better than poor people actually. The one regime where they run into issue is communision. But during an economic collapse, the rich still own a) non fiscal wealth - which tends to be stable b) production wealth As a result, their positions tend to be a huge deal more stable. Then there's an important thing - even though economies are having issues - mega corps are still showing profits and going well.[/QUOTE] Yeah ask the jews in Nazi Germany and the bourgeoisie in Soviet Union how well that went for them. What you are talking about is small time economical instabilities that happen all the time, and nobody gives shit. Radicalism means and little starting positions matter. Somebody can choose a group, race, origin, or anything, and fuck with these people, regardless their wealth - and in case of Soviet Union for example, the wealthy people were the exact ones who got fucked with.
[QUOTE=Noble;36194818]http://www.qando.net/details.aspx?entry=7625 But this time he must be right![/QUOTE] I don't understand are you being sarcastic? Because the housing bubble was in 2007 and you're basically showing that all the things he said for the two years before it were accurate.
Why can't we go back to the system of bartering?
[QUOTE=POLOPOZOZO;36203083]I don't understand are you being sarcastic? Because the housing bubble was in 2007 and you're basically showing that all the things he said for the two years before it were accurate.[/QUOTE] Except you're missing the point. He keeps predicting shit, and when it doesn't happen, he just says it again, because he knows it has to happen at some point, so if he says it enough, he can say "I WAS RIGHT, I WAS RIGHT!" Law of averages, bud.
[QUOTE=Awesomecaek;36192438]Not really. At one point nobody will care about your money, and mainly not about the money you had on accounts and banks. At one point, only thing that will matter will be how conveniently placed your home is, how tall fence you have, and if you can defend yourself. And if you are lucky, obviously. [/QUOTE] That would require total breakdown of society, which won't happen.
fuck does the laureate know about economics, oh its not that laureate - i was thinking of the poet laureate lmao
Too bad I don't come from the land down unda, where the women glow and men plunda, and there's no recession there.
Not going to happen. What one would expect by 2030 is simply a doubling in the oil prices, somewhat higher prices (as oil is a significant factor in the commodity price for a wide range of the commodities, as it's an input in their distribution), as well as somewhat slower growth, due to the reductions in the oil supply and rising aggregate demands due to population growth and economic development. However, one shouldn't expect to see a breakdown of the society in any way.
[QUOTE=Sobotnik;36192562]Everybody always says their era in history will be the end of the world or a golden era.[/QUOTE] But no this time it will be different!
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