The subprime debt issue of 2007 blossomed into a global credit crisis. Likewise, the Dubai sovereign debt issue will blossom into a global sovereign debt crisis in similar pathogenesis. The start and end points are located in the Untied States and Untied Kingdom. With the global climax come disruption, restructure, and chaos. The subprime mortgage problem was grossly under-estimated. The Hat Trick Letter called it the beginning of an absolute bond contagion, a global credit market collapse correctly forecasted. Central bankers, led by the clueless USFed Chairman Bernanke, minimized the degree and depth of the credit crisis, and made every conceivable wrong forecast. His reward was reappointment, since his service to the syndicate has been steadfast, loyal, and inventive. Every phase of global finance has entered a crisis mode, as the financial structures are coordinated, linked in complete fashion by the tightening noose using a US$ brand of rope.
The Dubai debt collapse represents the start of a global rotation of government debt collapse.Dubai has more than $385 billion in additional debt that has not been disclosed yet, so claims an informed source. Furthermore, Kuwait is among other Persian Gulf nations with major debt problems, soon to become clear in a liquidity crunch. The sovereign debt eruption in Greece will be followed by Italy, Spain, Portugal, and even France.
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The link to this article was really appreciated. The author very succintly told the story of the current onset of depression. Great article. Thanks.
ReplyDeleteThe Oligarchs that own and run America sure know how to time things just right. When Americans are watching Am Idol and the Olympics we are rampaging in Afghanistan. Killing thousands of innocent civilians. Wholesale destruction and slaughter. Men, women, and children tonight are being bombed and burned to death. People that did nothing to you and me. There crime was being born in a place the Empire is interested in inquiring. It makes me sick to my stomach.
ReplyDeleteThis guy pretty much details what is happening in the world financial market. It is difficult to understand how the govt controlled media can get away with NOT reporting any of this, misleading the sheep into thinking we are in a recovery.
ReplyDeleteHe also clearly mentions the US had the chance to withdraw the troops from our empire building and perhaps saving our country from bankruptcy. Of course we all know that did NOT happen, as as 11:34 so elegantly states, "Men, women, and children tonight are being bombed and burned to death. People that did nothing to you and me. There crime was being born in a place the Empire is interested in inquiring. It makes me sick to my stomach.". I agree 100%, I continue to have this horrible pathetic feeling inside me that I am some part of this evil empire, who kills innocent women and children at it's leisure and has no conscience what so ever. I do have a conscience and it bothers me greatly that my country is guilty of murder and genocide. And apparently there is nothing I can do about it. The brain dead sheeple do not seem to care about anything besides what their TV's.
The end is near, better prepare now!
You know when people start talking about "The millions we've killed and genocide and murder" etc etc...I honestly tune out.
ReplyDeleteI believe most Americans are like me...What liberals/bleeding hearts/people who have conciences need to do to MAKE people understand is to keep it short and heavy hitting.
Example: Americans: You and your kids WILL starve to death...Unless...Then do it in small bulletin points.
Why you ask? Becauseeeeeee...Americans unless something is simplified will ignore it.
You can rant and rave, show charts, show multiple examples but if you don't "Dumbify it" it will sound like yada yada yada to the Average American...Sadly enough including the middle class.
One last thing before I get off my soap box...Why is it everyone "knows" so much and everything is going to hell? I'll chat with someone about what's coming and they'll all say that not only do they agree but they "knew this would happen."
The same people that 4-5 years ago would argue about how I was crazy, the economy was amazing, Bush was doing well (except for the war they would say) and where was I getting my quackery from?
To the crash I say f*ck it...bring it on!
You have done a marvelous job by exploring this subject with such an honesty and depth. Thanks for sharing it with us!
ReplyDeleteThis seems to be a disastrous news for the middle east and especially for Dubai. I hope they survive the scare.
ReplyDeleteI read your article which I assume has been written after deep thought. I have been following you for a while and have asked my friends also to do so.
ReplyDeleteIts hard to define the debt many countries are into. Europe which has also got into such debt burdent is trying to get out of it.
ReplyDeleteThe way banks and other organizations are closing their operations in Dubai, it seems eminent that economy is really struggling in Middle East. This is what we are witnessing in Europe as well.
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