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| International-UN-NGOs |
| The global economy is at the point of maximum danger |
| 2008-07-22 |
| Excellent article on why we may be on the brink of a perfect economic storm. |
| Posted by:phil_b |
| #6 BNP Paribas is warning Spain...that's a favorite bank of money launderers, using the off-shore Carribean locations, and used by the UN in the Oil-for-Food Scandal by those taking Saddam's bribes. Sunday, a Venezuelan plane, bearing a Red Cross logo(like the FARC hostage spoof and Palestinian ambulances), was intercepted with some 130 tons of cocaine in Sierra Leone, bound for Europe. This has also been a record year of drug interdictions and sanctioning of terrorist financing--that loss in revenue has to show up somewhere. Giants fall the hardest, however. |
| Posted by: Danielle 2008-07-22 11:50 |
| #5 It may not be as bad as this guy makes it out to be, but it still sounds like it has the potential to go south on us in a heartbeat. We are living in a new age of the Robber Barrons. They are plunderers, they completely use-up and discard an industry when they have sucked all the value from it. I've watched them go from the Savings and Loan industry to the Steel Industry, to Manufacturing,to IT, to the Housing industry and finally to the energy market. They will lay it to waste and run off to the next plum with a truckload of money. But it's never enough, that begs the question of which market or industry is next? IRA's, Fed securities, Forex market? These guys are ruining one facet of our economy after the other and nobody in govt. seems to care. |
| Posted by: bigjim-ky 2008-07-22 11:04 |
| #4 90% of the commenters on that article are certifiable loons. I'd be rich if I could get the tinfoil distribution monopoly for those folks. When you start seeing Koreans, Chinese and Indians leaving the US instead of desperately trying to come here, THEN it will be time to worry. The reality is that there is no place better than the U.S. to live, and there are a hell of a lot of envious people out there who are just drooling at the thought of us being in trouble. That's as opposed to the average American, who couldn't give a flying fornication about people or conditions in most other countries because he/she has absolutely no interest in being like them. |
| Posted by: Jomosing Bluetooth8431 2008-07-22 10:02 |
| #3 We are at a global level that does mirror the 1930s after the stock market crash. Credit was plentiful and cheap, but now banks are paying for lending risky loans. Europe is in recession or close to it, the US economy is struggling under the credit crunch and the rising cost of energy is the proverbial gas on the proverbial tinder. Things are starting to stabilize if the government just stop screwing with the markets. But if some event, either a major natural disaster in a major economic nation, or China/India/Japan falling economically will be the proverbial match on the aforementioned pile. Interesting times. |
| Posted by: DarthVader 2008-07-22 07:55 |
| #2 Ambrose is a bit over the top with his doom and gloom. There is some good commentary in the comments. And yes, the bankers and their fellow travelers need to be hammered hard. I suggest they be treated to the high jump. |
| Posted by: Lampedusa Glack5566 2008-07-22 07:01 |
| #1 And thanks a lot to the irresponsible, lying, lawbreaking financiers who brought us here, and the governments that refused to enforce their own laws. |
| Posted by: gromky 2008-07-22 00:22 |