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GEAB N°32 is available! 4th quarter 2009 – Beginning of Phase 5 of the global systemic crisis: phase of global geopolitical dislocation
According to LEAP/E2020, this new stage of the crisis will be shaped by two major processes happening in two parallel sequences:
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.
History is not known to be patient, therefore the fifth phase of the crisis will ignite this required process of reconstruction, but in a harsh manner: by means of a complete dislocation of the present system, with particularly tragic consequences in the case of several big global players, as described in this 32nd issue of the GEAB (see the two parallel sequences).
Originally posted by daddyroo45
Reaching equaliberium on a global scale is going to be dangerous to say the least.Everyone owes someone something. Even the richest of the rich are not liquid and have debt.
To say the least these next few years will be interesting!
On October 16, 2008, the "Global-Europe Anticipation Bulletin" told its subscribers that the present U.S. Dollar will be demonetized and a new currency imposed. "Old dollars" will be devalued by ninety percent (90%)
Each month, the GlobalEurope Anticipation Bulletin brings you its unique analyses on the upcoming stages of the collapse of the world order created after 1945, as well as numerous strategic recommendations for your decisions in the political, economic and financial fields. Because in our complex world, all these...
Profits in the U.K. will plunge more than during the Great Depression amid further losses in the banking industry and sliding oil prices, pushing the benchmark FTSE 100 Index lower over the next year, Morgan Stanley said.
Earnings will fall 60 percent from peak to trough, London- based equity strategists Graham Secker and Charlotte Swing wrote in a report dated yesterday, adding that Morgan Stanley data suggest profits dropped about 57 percent during the early 1930s.
At the end of this phase of geopolitical dislocation, the world will look more like Europe in 1913 rather than our world in 2007.
The U.S. economy is in for a "lasting slowdown" and could face a Japan-style period of relatively low growth coupled with high inflation, billionaire investor George Soros said on Monday.
Soros, speaking to Reuters Financial Television, also warned that rescuing U.S. banks could turn them into "zombies" that draw the lifeblood of the economy, prolonging the economic slowdown.
"I don't expect the U.S. economy to recover in the third or fourth quarter so I think we are in for a pretty lasting slowdown," Soros said, adding that in 2010 there might be "something" in terms of U.S. growth.
The recovery will look like "an inverted square root sign," Soros said. "You hit bottom and you automatically rebound some, but then you don't come out of it in a V-shape recovery or anything like that. You settle down—step down."
The healing of the banking system and housing markets is crucial to recovery. "The banking system, as a whole, is basically insolvent," Soros said. Soros also said the U.S. dollar is under selling pressure and may eventually be replaced as a world reserve currency, possibly by the IMF's Special Drawing Rights, a synthetic currency basket comprised of dollars, euros, yen and sterling.
"I think the dollar is now under question and I think the system will need to be reformed, so that the United States will be subject to the same discipline as is imposed on other countries," said Soros, whose famous bet against the British pound earned his Quantum Fund $1 billion in 1992. "Being the main issuer of international currency, we have been exempt and we have abused that because we have effectively consumed 6.5 percent more than we have produced. That is now coming to an end."
Ladies and Gentlemen,
Your next summit takes place in a few days in London; but are you aware that you have less than a semester to prevent the world from plunging into a crisis that will take at least a decade to resolve, accompanied by a whole series of tragedies and ferment? Therefore, this open letter by LEAP/E2020, who saw the arrival of a « global systemic crisis » as early as three years ago, intends to briefly explain why it happened and how to limit further damage.
If indeed you began to suspect the onset of a sizeable crisis less than a year ago, LEAP/E2020, in the second issue of their « Global Europe Anticipation Bulletin » (GEAB N°2), anticipated that the world was about to enter into the « trigger phase » of a crisis of historic proportions.