I have been wanting to write about this since Monday ( when the first public news, broke in the MSM ), but have not had the chance. I have a number of
personal concerns here, mostly on the local level.
Almost 4 weeks ago I warned of the market collapse, citing the little known Economic Forum in Davos Switzeland. Within 24 of that Forum comming to a
Close, The World Markets fell into the Red. This lasted for 3 solid weeks and the markets are still rocking back and forth even now. A small rise here
a small dip there.Even now, most people are unaware of the Forum that took place and the corralation between the Forum and fall of the Market.
Here on the local scene, most Australians have been taken by suprise by this meeting, starting today and lasting over the weekend.This was only
announced publicly on Monday. A great way to minimise any public protests. Parts of the city will be locked down. To quote a police officer
interviewed on radio, she stated that they are not expecting or aware of any planned protest, but she went on to say but it is only Monday. Well I
guess, that is to be expected with how well they kept this event to their chest, until the last minute.
This time, I don't believe this meeting will have an a immediate impact on World Markets as the Davos Forum. However I fear here, locally it will be
another nail in the coffin. There will be more negative talk of the Australian Economy and more talk of Government spending cuts. The effect will
subdue personal spending, thus having a impact on retail, this will then spread like a cancer through the economy ( the domino effect ).The Australian
Dollar Exchange rate will dip and banks will introduce policy Changes. This country can't take much more.
So what is my economic forcast for 2014? Here is a cut and paste from a post I wrote dated the 3rd of Febuary
Unions, jobs, and wages will be at the forefront of everything this year. Unions will swell and become strong. There will be scandals to discredit
them and shut them down. Verbally you will hear of a push to increase wages . The reality is wages will drop significantly. US wages will drop due to
imigration. Australian wages will drop to compete with work for the dole. More jobs will off shore with the TPP. By November both Countries will both
have Australian and American Springs. Violence is comming.
Since I wrote the above here in Australia, the following large companies have announce closures. General Motors,Toyota, SPC, Alcoa Smelter, Sensis.
This equates to thousands of jobs and tens of thousands jobs of their external suppliers in the supply chain. The unions are addressing the media
daily. A federal inquiry is being implimented, to investigate union corruption and a former Union officer and politican has been jailed for fraud. All
of this has happened in the last three weeks since I wrote the above.
I believe the true agenda behind closed doors, will be banking restructuring for the introduction of the TPP, change of banking policy and taxation on
local and international transactions. Austerity!
My Advice is turn off the Olympics and Watch the magician's other hand.
Here is a link where I predicted the recent Market Crash. Starting on page 2
edit on 20-2-2014 by 13th Zodiac because: (no reason given)