Peter Challen has sent me an interesting PowerPoint presentation entitled 'Meltdown' about the next phase of the Global Financial crash, originally prepared and circulated by Dr Mike Haywood. Let me know if you'd like a copy and I'll forward it to you.
In summary, the presentation argues that ...
The debt mountain, peak oil, population growth, resource depletion, population growth, the pension time bomb and climate change are all interconnected. Remember, only 3 dozen economists correctly predicted the 2008 global financial crisis, out of a profession of 20,000 members. Not one of the World politicians and Central Bankers saw the crisis coming, but all of them claim to know the remedy.
Meltdown did not occur in October 2008, but we were within 4 hours of it happening. It has only been deferred. The reasons for the 2008 crash have not gone away. The US housing market is still in freefall and US and European Banks are becoming increasingly insolvent, although they won't admit it. Economic growth will be stifled by rising oil prices. The bailouts are not working. World Politicians, Bankers and Economists are trying to maintain the status quo but they are losing control. Fundamentally, the real systemic causes of the crisis are rarely discussed with transparency and have not been addressed. Fractional Reserve Banking and universal public ignorance of banking practices are the cause of all our global problems.
The collapse will happen within the next couple of years. The Eurozone or USA will most probably be the epicentre. The interconnectivity of the financial system means we will all be affected. What happens next after the collapse is impossible to predict. History is replete with examples but not on a Global scale. Massive political unrest will prevail. There will be a rise in popularity of extreme left and right political parties.
Peter recommends them as a valuable set of slides, graphs and summaries that might usefully be viewed before the Moving Planet day seminar at St James Piccadilly on September 24 see http://www.st-james-piccadilly.org/.
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Regina Spektor - Fidelity.
2 comments:
Yes please!
Will do.
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