Do you agree the next global financial crisis is caused by Europe?
Early October 2011, Dexia became the first European bank to fall victim to the Eurozone sovereign debt crisis and it was subsequently bailout by the Belgian and France governments.
That how the Global Financial crisis of 2008 was started with bailout of Bear Stearns by J.P. Morgan Chase and backed by US government. That triggered the domino effect and reached the peak of crisis on Oct 2008. Will history repeat itself, but this time at Europe?
This all is part of same 2008 financial crisis. Unless and untell the toxic from the system is removed the market will remain in down turn. The market is in down turn and will remain same. It will take atleast another 2 years to clean up the system. Remove toxic assets from system, give haircut to bond holders is the only solution.
The end of the world is near.
The ten plagues of Pharaoh “have been brought upon” the USA.
When Barack Obama announced the US (2010) national budget for this year, we experienced unprecedented feelings. Never before had an imperialistic power moved them to pity. This is unthought-of. This year’s deficit is estimated to be $1.6 trillion and its foreign debt has gotten completely out of hand. It hits numbers that only mathematicians and astrophysicists knew existed few decades ago. There is no space for these numbers in the electronic boards so it is driven to add new elements on them.
http://eamb-ydrohoos.blogspot.com/2010/ … araoh.html
Authored by Panagiotis Traianou
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