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On the future of the British pound, the verdict of the Europeans is clear-cut: 86 percent estimate that it has no future as an international currency…
‘15-UP AND 14-DOWN’, Twenty-Nine Key Trends of 2009 – Fifteen subjects gain momentum along the year 2009 / Fourteen subjects lose momentum along the year 2009
Up or Down? State defaults; corporate profits; Very Great US depression; social unrest; middle-class purchasing power; UK, sick-man of Europe; US, sick-man of the world; industry and agriculture, central economic activities; Russian- and Chinese-style authoritarian management of economic modernization; anti-Semitism in the US; Brown, Merkel, Obama
Sarkozy; globalization; inflation; social welfare systems; regional blocks; NATO; instability in the Middle-East; EU-Russia strategic partnership; Eurozone; Yen-Yuan-Euro; Dollar-Sterling Pound-Swiss Franc; US T-Bonds; the Bretton Woods system; CDS (Credit Default Swaps); big financial scandals; « billionaires »; economic recovery...
We had hoped that the decanting phase would give the world’s leaders the opportunity to draw the proper conclusions from the collapse of the global system prevailing since WWII. Alas, at this stage, it is no longer possible to be optimistic in this regard (1). In the United States, as in Europe, China and Japan, leaders persist in reacting as if the global system has only fallen victim to some temporary breakdown, merely requiring loads of fuel (liquidities) and other ingredients (rate drops, repurchase of toxic assets, bailouts of semi-bankrupt industries,…) to reboot it. In fact (and this is what LEAP/E2020 means ever since February 2006 using the expression « global systemic crisis”), the global system is simply out of order; a new one needs to be built instead of striving to save what can no longer be saved.