THE ECONOMIC SITUATION - AUGUST 2015
...
"You don’t need to be Paul Krugman to know the new normal is:
Anemic global trade;
A severe crisis in most emerging markets;
Europe's absolute stagnation cum recession;
And 'factory of the world' China selling less to the rest of the world."
THE TRUE ECONOMIC SITUATION - Pepe Escobar of Asia Times.
"Meanwhile, the hyper-valued US dollar is strangling US exports; up to 3 percent decline in the first semester alone. Imports also fell by 2.2 percent; and that ties in with the structural corrosion of America’s dwindling middle class spending power.
"Everywhere we look, the whole structural landscape screams crisis of the neoliberal disorder."
THE TRUE ECONOMIC SITUATION - Pepe Escobar of Asia Times.
"Contrary to Western forecasts/wishful thinking, China is not imploding.
"Credit Suisse has released some quite level headed analysis. Here are the highlights.
"'China still has a very healthy current account surplus, its capital account is still partly closed and its major financial institutions are largely state-owned.
"These factors combined would allow the monetary authority a free hand to create liquidity in the system if it wants to do so...
"'The fear of a repeat of the 1997 Asian financial crisis or a 2008 global financial crisis is not warranted.'"
Illustration by Erik T. Johnson - The Stock Market and the Economy's Apparent Disconnect
"What to do about the tsunami of foreign money driving the US dollar up, and driving US industry to become totally uncompetitive...
"Central banks absolutely love to drive up stock market prices for the benefit of the 0.0001 percent.
"So expect more delusion ahead.
"But be sure everything that's solid melts into air. Including the neoliberal dream."
THE TRUE ECONOMIC SITUATION - Pepe Escobar of Asia Times.
The Central Banks have engineered this Financial Collapse, according to James Corbett
The Corbett Report 25 August 2015
"The phony baloney stock markets, manipulated as they are from top to bottom and juiced as they are on the Fed’s QE heroin, are no longer reflective of economic reality.
"The only question is how far this particular dead cat market will bounce, and whether it will be helped along with more heroin from the Fed..."
The Corbett Report 25 August 2015
"It is the central banks that have created this mess, and what’s more they have created this mess in the full knowledge that their actions would lead to disaster.
"And now, one can be sure, the same central bankers and their political puppet mouthpieces will use this crisis to continue the construction of the New World Order that they called for in the wake of the 2008 collapse.
"Anyone who can’t see the endgame now - global government by the bankers, of the bankers and for the bankers - is either blind or wilfully ignorant...
"We can already see a false narrative underway. This narrative has two main thrusts: one is to paint China as the culprit for the global downturn and the other is to assume that only central banks can save the day (with even greater liquidity injections and even deeper rate cuts)."
The Corbett Report 25 August 2015
"I have just been on a swing through the North and East of the USA, and have talked to some of the leading financiers of the country.
"All the wealth of the United States has gotten into the hands of about five thousand families and their connections.
"You know, if something is not done pretty soon to get this money out of cold storage, we're going to have the doggondest panic this country ever saw."
Labels: Central Banks, China, Corbett Report, economy, inequality, neoliberalism, New World Order, Pepe Escobar, stockmarkets, USA
posted by Anon @ 00:33
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