Beware a rerun of the Great Panic of 2008: Head of World Bank warns

The Daily Mail
June 1, 2012

Beware a rerun of the Great Panic of 2008: Head of World Bank warns
The head of World Bank Robert Zoellick is warning that this weeks massive financial reports across Europe and the U.S. is looking like 2008 all over again !!!!!!

Robert Zoellick: 'Far from clear leaders ready for impending catastrophe'

Raft of dismal news from around world wreaked havoc on market

Manufacturing output crashed in Britain, jobless up in Europe and U.S.

Fast-emerging economies such as Brazil and China running out of steam

The head of the World Bank yesterday warned that financial markets face a rerun of the Great Panic of 2008.

On the bleakest day for the global economy this year, Robert Zoellick said crisis-torn Europe was heading for the ‘danger zone’.

Mr Zoellick, who stands down at the end of the month after five years in charge of the watchdog, said it was ‘far from clear that eurozone leaders have steeled themselves’ for the looming catastrophe amid fears of a Greek exit from the single currency and meltdown in Spain.

The flow of money into so-called ‘safe havens’ such as UK, German and US government debt turned into a stampede yesterday.....(continues)

A new rattle segment grows each time the rattlesnake sheds its skin

You can't hide from the Sun ....

Is "Collapse" Imminent ?

Are you willing to get an RFID implanted in your skin so that the proper authorities will be able to know your whereabouts at all times?

reply to post by satron


They already can track you. The thing is that 2000 years ago that the book of Revelations foretold of the coming Global monetary system where the False Prophet would make every man rich or poor take the Mark of the Beast where he could control whether you can buy sell or trade or not as well as keep exacting information on your purchases , whereabouts, your wealth and any taxes you owe will be deducted immediately such as CARBON TAX . This system could only become reality with the advent of the world wide internet . That is a time stamp on the events written within Revelations .

reply to post by xuenchen
The difference is this is post-Keynesian, post-TARP, post-QE panic.

What in the heck would they do no?

reply to post by xuenchen

Imminent

Why yes... The insecure financial status within Europe is absolutely in a definite 2008 syndrome. There are only a handful of release valves to ease the current financial pressure and obviously everyone who at some stage has been viewing the news or reading a news paper or perhaps has been informed via the internet or radio has but one thing being shown to and her and that is the preparation of a war. To me the current missile shield that went operational was just about the last green light order to prepare for an incoming attack. What hasn't been said is in what mode is that missile shield set at. Is it in passive mode ? , or attack mode ?.

Given the missile shield is up and the recent situation within greece we see two major players that comprise of smaller but strong nations. We see germany leading the pack on a financial crusade throughout europe and at the same time france trailing behind. Here we see former bundesbank individuals intentionally and actively create decision making laws in foreign nations. ( i.e. greece, ireland etc ). We see the french have been positioned to be the final yes or no when one refers to the i.m.f. These two alone indicate a long blood line within european history that dates back several hundred years. On the other side or the planet we see the known alliance between u.s. and israel. Since we are in sync as to israel and the u.s. when one refers to them as joint allies through thick and thin. Didn't mean to rant but i needed to paint a picture for anyone as to try and show a perspective on current global event. In closing, is something going go boom within europe, why yes.

If we do go under again what this time more injections? I hope not I think we need to do it right this time let things fail that are going to fail. It was just meant to be like in the past. I know it will suck and be difficult for a while but just as in the past we will get through it.We sure would be better off if congress would work with us and make some cuts in the deficit. So if we needed a little money it would be there. Also what good is a different president going to do us the congress will just not pass any bills and right back in the same boat we go. Hope for the best people. Peace out

Originally posted by beezzer
reply to post by xuenchen

 

The difference is this is post-Keynesian, post-TARP, post-QE panic.

What in the heck would they do no?

It could be they want to loot the treasuries again like last time.

It will bankrupt the U.S. & Europe this time.


Cloward–Piven

Cloward and Piven’s article is focused on forcing the Democratic Party, which in 1966 controlled the presidency and both houses of the United States Congress, to take federal action to help the poor. They stated that full enrollment of those eligible for welfare “would produce bureaucratic disruption in welfare agencies and fiscal disruption in local and state governments” that would “deepen existing divisions among elements in the big-city Democratic coalition: the remaining white middle class, the working-class ethnic groups and the growing minority poor. To avoid a further weakening of that historic coalition, a national Democratic administration would be constrained to advance a federal solution to poverty that would override local welfare failures, local class and racial conflicts and local revenue dilemmas.”[3] They wrote:

“ The ultimate objective of this strategy—to wipe out poverty by establishing a guaranteed annual income—will be questioned by some. Because the ideal of individual social and economic mobility has deep roots, even activists seem reluctant to call for national programs to eliminate poverty by the outright redistribution of income.[3] ”

Michael Reisch and Janice Andrews wrote that Cloward and Piven "proposed to create a crisis in the current welfare system – by exploiting the gap between welfare law and practice – that would ultimately bring about its collapse and replace it with a system of guaranteed annual income. They hoped to accomplish this end by informing the poor of their rights to welfare assistance, encouraging them to apply for benefits and, in effect, overloading an already overburdened bureaucracy."

Video and Article from Nov 23, 2009

Here it is folks. Obama's plan for "change" Is this what you wanted/voted for ?? WAKE UP !

The methodology is known as the Cloward Piven Strategy, and we can all be grateful to David Horowitz and his Discover the Networks for originally exposing and explaining it to us. He describes it as: The strategy of forcing political change through orchestrated crisis. The "Cloward Piven Strategy" seeks to hasten the fall of capitalism by overloading the government bureaucracy with a flood of impossible demands, thus pushing society into crisis and economic collapse.
Cloward-Piven Government

reply to post by cerebralassassins


Are you crazy if a war starts it will be nuclear and very bad no one wants that and we all no it will destroy the planet. No one would survive and no one would want to survive. We need to think more positive people. I just hope someday soon we can all just get along and live as a race together not as a kind apart. Peace out

Originally posted by joecool9887
reply to post by cerebralassassins

 

Are you crazy if a war starts it will be nuclear and very bad no one wants that and we all no it will destroy the planet. No one would survive and no one would want to survive. We need to think more positive people. I just hope someday soon we can all just get along and live as a race together not as a kind apart. Peace out

By mentioning boom i was using that term on a metaphoric level. This does not exclude or am i deviating from the fact that europe is primed to explode across several borders. I didn't mention what method was to be used or what physical apparatus but all indicators point to one direction. The point at hand is they have used a financial weapon that has and is surgically removing the euros defense mechanisms leaving it wide open to be hits from multiple directions. The only final piece is what nation is going to start it all. Why is this important, well nato's current military hardware is in or within striking range around the mediterranean. Turkey in recent events has poked her stick to israel with catastrophic results. One might describe israel current stand as the dog that doesn't bark, but it bites the head off as first possible response. Overkill use of force upon minor by geopolitics standards when it responds to provocations. Recent nato build up under the flag of peace meant it moved hundred's of trillion of military hardware into southern europe. What people need to be told over and over is that you do not move so much military hardware anywhere unless you are "in" a battle or are "about to" commence a military action.

The first question you should always ask is "Who has the money?" then "How is it being spent, if it is?"

This is how we track drug dealers, etc. By controlling the money, this is how we control the World.

Given that the money has not disappeared, it has only moved from one hand to another hand....who has it now? Where are the trillions of dollars injected into the World economy now?

Money was still present when we had the Great Depression. It was not being moved. Why? Because opportunities for investment were missing. Why were they missing? Because the instruments for investment, e.g., stocks, were missing or too risky.

What is not risky now? What attracts money now? American Treasury Notes are safer than most investments, but do not pay back much. However, the money that was created then goes back to the hands that created it, the US government, who in turn issues more Treasury notes.

What does the US government do with it? There is a slowdown in the economy if it is held back from reinvestment. Therefore, the US government gives it to the banks to reinvest. Will the banks do that? They will, depending on their balances and portfolios, and whether they can take the risks and win.

Can the banks invest and win? They can, if they are backed by the US government. The US government, therefore, must take the risk. Can the US government afford to take the risk? The US government must take the risk in order to produce more output, more growth, and more confidence.

How can the US government take the risk? By raising the interest rates to the banks. Does this slow the economy? Yes. Does the economy go into a slump? Yes, but not a depression. Does this make sense to the citizens of the US? Yes, because the US is not giving the money away, merely reinvesting into itself. Can the US government lose its investment? Yes, but they can print money to make up for their losses, to replace the money that is invested and lost. Does this affect the inflation of the country? No, because it maintains the levels of money needed for the economy to function.

Originally posted by satron
Are you willing to get an RFID implanted in your skin so that the proper authorities will be able to know your whereabouts at all times?

They can already do that. Anyone who has a cellphone, they know where you are. Use a debit card/credit card. Your bills get mailed to your apartment right?

They can already track people pretty damn well.

As for a collapse? I hope it brings the criminal banking cabal to its knees.

Originally posted by joecool9887
reply to post by cerebralassassins

 

Are you crazy if a war starts it will be nuclear and very bad no one wants that and we all no it will destroy the planet. No one would survive and no one would want to survive. We need to think more positive people. I just hope someday soon we can all just get along and live as a race together not as a kind apart. Peace out

Well, there hasn't been a nuclear world war yet. I believe they are called proxy wars; usually played out in some far-off developing country.

reply to post by Jim Scott


How can it not affect inflation? You said so yourself the money simply changes hands. If they recoup 'losses' by printing money then all it will do is force credit to contract sharply, like in 06-09 and inflation in the monetary base will shoot up like it has been the last few years. Or have we paid no attention to how expensive commodities are? How hard foundational credit lines are to obtain even to trustworthy borrowers?

Do you know you deep USD50k in debt ?
Now you know.

Originally posted by NullVoid
Do you know you deep USD50k in debt ?
Now you know.

My God !

You are right !

ByGod, we ARE in debt !

Only 14 flags and one page for such a huge issue....crazy, what's going on with ATS??

At least the wise has had a few years to make some sort of preparations for when trade and commerce come temporarily grinding to a halt.

The rest....meh, let them burn. You had ample time to get some simple supplies.

From what I gather the euro sinking is not the undoing of the dollar. It should prop it up. The BRICS are slowing. The euro is a small part of the world economy as a percentage and foreign investors have had ample warning to limit their exposure. This is a different scenario than we saw in 2008. Everybody knows what is coming.

As bad as US debt is other countries have higher debt to GDP. Look at Japan. They've been operating at sky high levels of debt for almost 2 decades. They get away with it because everybody knows that Japan will continue to make money.

The US is bleeding red ink, but when the numbers are ran it is clear that we don't have to bleed red ink to survive. By putting the food stamp recipients into soup lines and reigning in our military we can end the annual accrual of red ink any time we want. It would hurt and no politician wants to do it because it would end their careers. But the US is not Greece. We are far from a lost cause, despite what many want to believe. This is why the dollar is still so attractive on the markets even though there is no profit in holding it.

I don't think anybody really wants the US to reign in spending very much. Being the largest single economy in the world, and the reserve currency means that the world , for now anyway, wants us to spend. It helps prop everybody else up.

All that said, I think we are still going to be in for a rough ride. Everybody. Everywhere. I think it will be irrational and panic induced when it happens. I stock many pounds of beans in my cupboard.

Originally posted by unityemissions
Only 14 flags and one page for such a huge issue....crazy, what's going on with ATS??

At least the wise has had a few years to make some sort of preparations for when trade and commerce come temporarily grinding to a halt.

The rest....meh, let them burn. You had ample time to get some simple supplies.

Most are squabbling over Obama's birth certificate, whether same sex marriage is cool, should abortion be abolished, and who is the better out of Obama/Romney puppets to take notice, thankfully they're the majority and get to make life terrible for the rest of us.

Isn't Democracy great?

Originally posted by joecool9887
If we do go under again what this time more injections?

Of course! QE3 is absolutely guaranteed at this point. Bernanke and Geithner will never, ever let the economy go down when there's more money to be printed. They have laid this out themselves; it's part of Geithner's big "strategy" he learned under Clinton's Treasury. Always bail out banks/countries/etc instead of letting them go under; never let the TBTFs actually fail, at all costs. We're on the precipice of another downturn because Op Twist is over, and just like after QEs 1 and 2, the economy always corrects itself back down again. How big will it be this time? Will Europe and its panic cause contagion among US consumers and investors? How would the prospect of a 20% drop in exports due to Europe collapsing sound to most Americans? And how much QE can Obama get with the election looming and anti-QE sentiment so high?

Originally posted by unityemissions
Only 14 flags and one page for such a huge issue....crazy, what's going on with ATS??

At least the wise has had a few years to make some sort of preparations for when trade and commerce come temporarily grinding to a halt.

Yes it seems to be spreading like a virus, its either a systematic cleansing or one hell of a co-incidence.