Use access key #2 to skip to page content.

alstry (36.49)

ONLY America??????

Recs

16

December 27, 2008 – Comments (5)

Mikhail Gorbachev, the former Soviet leader, warned Russia faced “unprecedentedly difficult and dangerous circumstances” and could be “heading into a black hole”. “It is not clear what the fate of our rouble will be or if society has sufficient financial and moral resources,” he said.  

GAZA CITY, Gaza Strip – Israeli aircraft struck Hamas security compounds across Gaza on Saturday in unprecedented waves of simultaneous attacks, and Hamas and medics reported dozens of people were killed.

Tensions between India and Pakistan rose again Friday as Pakistan said it was redeploying an unspecified number of troops from the fight against Islamic militants in the northwest.

Iceland is an extreme casualty of an era in which it became extremely easy to borrow money. The tiny isle became so leveraged that its collapse has rattled the world from Tokyo to California to the Middle East.

With battle lines sharpening, the German government appears determined to resist calls to spend an additional €40 billion to fight its way out of the recession, according to officials attending a meeting in the Chancellery in the past week.

Japan’s recession deepened in November as companies cut production at the fastest pace in 55 years and rising unemployment prompted households to pare spending.

China needs to devise more policies to boost consumption among the nation’s 1.3 billion people to counter the impact of falling exports on economic growth, central bank Governor Zhou Xiaochuan said.

Vietnam’s central bank devalued the dong by 3 percent to help exporters after the Southeast Asian economy expanded at the slowest pace in nine years and the trade deficit widened.

The U.K. economy shrank the most since 1990 in the third quarter and mortgage lending dropped to the lowest in 14 years as tightening credit exacerbated the slide into recession.
 

The governor of the Bank of Spain on Sunday issued a bleak assessment of the economic crisis, warning that the world faced a "total" financial meltdown unseen since the Great Depression.

Is it just me, or are tensions and financial crisis perculating around the world....ALL AT THE SAME TIME?????

In case some of you thought Silicon Valley was safe.....

Silicon Valley, the technology mecca once considered immune to fallout from the global financial meltdown, now faces the biggest cutbacks since the dot-com crash.

5 Comments – Post Your Own

#1) On December 27, 2008 at 10:49 AM, BGriffinFlorida (27.34) wrote:

Thank you ALSTRY,

You really bring it together.  These things get burried or glossed over in mainstream media.  It is good to get a 'heads-up' from you.

Report this comment
#2) On December 27, 2008 at 11:54 AM, alstry (36.49) wrote:

Back to America........on the other coast from the NYTimes

Nearly $5 billion in development projects in New York City have been delayed or canceled because of the economic crisis, an extraordinary body blow to an industry that last year provided 130,000 unionized jobs, according to numbers tracked by a local trade group.

Think about the above for a second....$5 Billion in NYC alone.....this is happening all over America......causing even further slowdowns

$5 Billion creates a lot of jobs....in one city alone....multiply this nationwide.....now we are talking.....especially when you factor the multiplier effect....

Report this comment
#3) On December 27, 2008 at 12:02 PM, brewbrew (57.49) wrote:

These are certainly some uncertain times. Great post.

 Check out my finance blog @ http://creativecashgeneration.wordpress.com

Report this comment
#4) On December 27, 2008 at 1:36 PM, johnw106 (63.09) wrote:

You can toss in Ecuador defaulting on billions in loans.
Mexico is in a all out war between the drug cartels and the federals, and the feds are losing. Look for tensions to increase between the US and Mexico over the smuggling issues and the US push to close off most of the border.
China has started talks with Taiwan and Viet Nam over trading in the Yuan instead of US$ or Euros.

The trade wars that are  unseen in normal circumstnaces (currencie manipulation by governments) are now shifting into high gear. No one wants a strong currency that will hurt what little export shipping is being done. Look for the next phase to start very soon. All out wars between neighbors in an effort to close borders and "beggar thy neighbor" policys. 

Report this comment
#5) On December 27, 2008 at 6:54 PM, GorillaGorilla (< 20) wrote:

>>> You can toss in Ecuador defaulting on billions in loans.

 From what I read the Ecuador defaulting is something quite different. It's not that they don't have the money they just aren't paying. Still, it makes for interesting times....

http://www.economist.com/world/americas/displaystory.cfm?story_id=12685486

Report this comment

Featured Broker Partners


Advertisement