Economic worries escalating around the world


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I am at peace since I have faith in Economists and Finance Minsiters (politicians) :( No quick fix, let them struggle not ordinary citizens fault.

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How's Australia doing?

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This is the work of past and present politicians,big business and financiers worldwide.Politicians incompetence and greed and big business and financiers well thats just greed. We, as in the rest of the world population are now paying for their you think they care?????????????

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One word is responsible for all of this. "Greed"

The world has been led by people who only have monetary gain in mind. Undue influence by corporations, inept leaders, corruption and profiteering. All these add up to a world led by people who are incapable of doing what is right for the well being of the general population.

For many years I have hoped that leaders would emerge who would work for the people. This has not, and likely will not happen. Meanwhile the world's working classes remain largely silent.

Sadly the writing on the wall is that a major economic disaster will be required to bring change. And sadly that change will likely be for the worst. My one remaining hope is that working people world wide will start to rise up and demand change before it is too late.

I wonder how many on JT are aware of the six days of protests in NY's Wallstreet district. It has not made mainstream news despite the long and popular demonstrations. I guess when normal people do raise their voices, they will be ignored. So we must raise them louder and stronger than ever to assure that we are heard.

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“This is mission impossible.”

Well said. The biggest reason of EU's failure is no visible solution to current crisis. We are all tanking together to a big "D" which cannot be avoidable.

The political WILLto create a common European treasury was absent in the first place; and since the time when the euro was created the political cohesion of the European Union has greatly deteriorated. As a result there is no clearly visible solution to the euro crisis. In its absence the authorities have been trying to buy time.

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I agree with tkoin2, it is all because of greed. Buying houses with swimming pools when your salary is $2,000 and the mortgage $2,500 is just outrageous. The world has enough resources for nobody to go hungry but it must feel better to have a BMW and let someone starve somewhere. People have no more conscience, as long as this attitude doesn't change, nothing will.

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Excellent article!

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It seems that most of the "growth" of the last 20~30 years has been based on dubious paper or electronic dealings such as derivatives and other esoteric financial instruments, leading to more and more of the world's wealth being concentrated in the hands of the financiers, who are the only ones who can understand them. They in turn leant this 'wealth' to governments and corporations, whose fate is now determined by shareholder value, and their ability to pay back their debts.

It is now apparent that this is all valueless, the house built on and out of sand is due to collapse...

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You can follow the US occupy Wallstreet protest via livestream Global Revolution.

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It seems like a bottom of barrel is beginning to break all over the world market. The winners are who paid off all personal debts including a mortgage, cash in hands and have jobs. The process is just beginning..........we have not seen anything yet, I tell you. I am usually pretty optimistic, but for this one, I am not sure.

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So who is this money owed too? Obviously there are a bunch of countries that are doing fine... who are they?

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Good post tkoind2.

The only thing I would add is that the Wall Street protesters should be protesting outside the Fed (and central banks in other countries too). Wall Street investment banks like Goldman Sachs and JPM were blamed and took the hit after the Great Depression but the same old fractional reserve banking system was allowed to continue to the point of what we have today. In other words, the little guys (relatively speaking) got a spanking while the REAL money and root of the problem -- the owners of the central banks -- got away with it.

The way the fractional reserve system was designed is mathematically impossible to support. That's the real problem. How can you lend out money and expect more back than you originally lent when it doesn't exist? Banks never lend the interest, only the principle! Because of this the economic and financial system need to grow and grow as society tries to find the interest to pay back the banks. Basically it's a pyramid scheme. The leveraging along with the fraud (derivatives, housing market problems etc) just makes matters worse.

Fractional reserve banking is the reason why there's inflation, insane money printing and always a need for growth. When I was a kid being a millionaire meant having money. Now it's billionaires and in some cases even trillionaires.

What our leaders are currently doing is plugging one hole in their sinking ship then having to find another one to fill the hole they've just taken the first plug from. The coming crash was always inevitable, especially after the gold standard was ditched.

They mislead and make it sound complex but if you look at the fundamentals it's really quite simple. :)

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gogogoSep. 26, 2011 - 11:33AM JST

So who is this money owed too?

The global economy is so tightly linked today, who knows. US owes too much to China and Japan. Eventually these I.O.U. will all come back and hit us (taxpayers).

Obviously there are a bunch of countries that are doing fine... who are they?

These are countries with no sovereign debts. FYI

Macau, Brunei,Taiwan, Liechtenstein

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what this amounts to is white collar terrorism. governments and banks, namely the supposed world leaders in the west, US, UK, and other Zionist governments, continue to screw people over, leaving regular good-willed people and families with no jobs and no future. why is it we so willingly support the propoganda machine that tells us it is imperative for countries to wage war in other countries we know little or nothing about, while they continually fail to provide the basic necessities essential for us to live securely in our own backyards? as long as we stand idly and do nothing about what is happening to us at home, can any of the world's problems ever be resovled? if we just took even a third of the money that is being used by countries to fight this so called war on terror, we would not have an economic crisis. we are being fooled, we are being lied to, and there is no end in sight. dont believe what the TV or newspapers tell you. dont believe what the government tells you. do research and find out for yourself. its so plain and easy to see, yet people find it so much easier to sit in stasis, and whatever is fed to them.

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The leader of the World Bank said he loses confidence daily that the global economy can avoid a new recession.

Fan the flames fan the flames, what a dumb thing for this guy to say given his position, you'd think he would try to inspire confidence atleast alittle wouldnt you?

Pick a spot on the globe and you’ll find economic trouble.

EU, China and the US, three spots ok pick aussie or NZ they doing great so much for pick a spot on the globe theory eh dummy .

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If you have the time (about 20 short videos) watch 'The Crash Course' about where we're heading, why and how the Economy - meaning the standard of life we are all experiencing - is where we will feel it, long, long before any catastrophe of 'Climate Change' or 'Peak Oil' actually becomes evident:

"The Crash Course seeks to provide you with a baseline understanding of the economy so that you can better appreciate the risks that we all face. The Intro below is separated from the rest of the sections because you'll only need to see it tells you about how the Crash Course came to be."

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And how will Japan fare? Nothing in the article on this (unusually!) so I predict that Japan will have no other option than to a.start pushing domestic production abroad.b.partner with foreign firms at an increasing rate. c.devalue the yen by QE like all the others are doing.The BOJ and the government here must be having their fair share of sleepless nights..........

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