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The head of the World Bank, Robert Zoellick, is about to step down after a 5-year term.
That means he can say what he really thinks.
Here, via the Daily Mail, is what he really thinks about what's going on in Europe and the global financial markets:
financial markets face a rerun of the Great Panic of 2008.
It's ‘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.
‘Events in Greece could trigger financial fright in Spain, Italy and across the eurozone. The summer of 2012 offers an eerie echo of 2008.... ‘If Greece leaves the eurozone, the contagion is impossible to predict, just as Lehman had unexpected consequences.’
'There will not be time for meetings of finance ministers to discuss the outlook and debate the politics.... 'In panicked markets, investors flee to safe assets, sparking other flames.’
Huge, quick government bank bailouts.
In the meantime, the world, waits...
There will not be time for meetings of finance ministers to discuss the outlook and debate the politics.... 'In panicked markets, investors flee to safe assets, sparking other flames.’ Read more: www.businessinsider.com...
Originally posted by wildtimes
reply to post by satron
I agree it's high time to stop them. These bail-outs and all this tail-chasing is ridiculous, damaging, dangerous, and...dare I say it....STUPID. It's like duct-taping your car's engine back together rather than repairing it.
Originally posted by pillock
The problem with the world economy is very simple . The share / futures market is to blame, how can an economy survive when people who produce nothing whilst making trillions of $s doing nothing except gambling & pushing paper survive ? It should be company A produces something that either company B or consumers need / want, sells what it has produced / made . Trading / gambling or guessing on how well company A or B will do financially is non productive and adds costs to the end product .
"Keep it Local
We already know that supporting the local economy is better. Small, local business are nearly three times as profitable as global corporations. Each dollar spent locally is four times as beneficial than a dollar spent in a global owned business. Why would we not support our local economies? (“The New Economy” Yes! Magazine, Summer 2009)"
Originally posted by zarp3333
reply to post by satron
Don't buy it! That's just whats happening to them. They've finally reached the limits of what the peasants can afford to pay in usury. It's game over for the elites.
Don't panic. We shall prevail and there is an incredibly glorious outcome just around the corner.
Don't live in fear. It's about time those greedy people learned there are limits to any parasitic feeding from the host. They've past that point and don't know who to blame. Soon they will be at each others throats trying to screw each other.
Live in love and forgiveness. No matter what you hear, and soon you will start hearing things intended to make you very mad, WE MUST FORGIVE lest they use our anger against us as they have done for centuries.