Monday, May 10, 2010

€uro-noia

Forest fires are part of the natural process of life on earth. All is destroyed so that it may be refreshed and reborn. Today on Facebook I commented on another member's entry about adjustments being made to the European economy. I suggested that a complete utter collapse of the global financial system is the only way to effectively purge it so that it can be re-grown, much like the forest. Everything that governments are throwing at the economy to "stabilize" it are just so many rubber bands, glue and tape. How much can be patched up and paved over before the structure falls?

The International Monetary Fund has said the global economy will expand by about 4.5 per cent between 2010 and 2011, following a 0.5 per cent contraction in 2009. Arnaud de Borchgrave voices his concerns that a derivatives crash could blow up the global economy:
"Even the world's most savvy stock-market giants (e.g., Warren E. Buffett) have warned over the past decade that derivatives are the fiscal equivalent of a weapon of mass destruction (WMD) - potentially lethal."
Maybe that'll turn out to be the "big bang" that topples the present system. Maybe. Another blogger believes that banks are making a deliberate move to destroy the health of the world economy to consolidate power.

Meanwhile, SPAIN has bounced back...

...and I've added a Market Watch widget into the sidebar here on the blog, so together we can keep an eye on all finances global!
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