UK Telegraph: Risk of global finance disintegration within days!-No one will be spared

[Politics_Guy25]

OMG.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3141428/Germany-takes-hot-seat-as-Europe-falls-into-the-abyss.html

Germany takes hot seat as Europe falls into the abyss
We face extreme danger. Unless there is immediate intervention on every front by all the major powers acting in concert, we risk a disintegration of global finance within days. Nobody will be spared, unless they own gold bars.

[Aloha Spirit]

1. I would consider the source here--Evans-Pritchard's a conspiracy theorist, and the Dail Telegraph

hearts Gov. Palin!

We shall see.
http://en.wikipedia.org/wiki/Ambrose_Evans-Pritchard

[Subdivisions]

3. People who were warning of this a year ago were considered

conspiracy theorists.

There is no longer any such thing as a conspiracy theorist. They are now just people who know what they are talking about.

[Politics_Guy25]

6. Yep!!

At christmas time last year, I read an extensive article warning of a massive global bank collapse that could cause a major recession/depression. Scared me at the time but I discounted it; plus the Obama/Clinton race started soon after so I forgot all about it. But, yeah, there were sages warning about this for years. Just like there were sages warning about 9/11 and Katrina.

[Subdivisions]

8. And nobody did a goddamned thing to stop it. NOBODY! n/t

[Politics_Guy25]

4. But look at the Dow

It's in an epic freefall. That's all the evidence I need. Also, Toronto fell 1,100 points earlier today, nearly 10%. Down 700 points now so slightly better but still.....

[cyberpj]

2. And didn't I hear Geogie Boy went on vacation just after signing the Wall Street bailout bill?

Does anyone actually expect him to DO anything?

[eowyn_of_rohan]

5. where did the little f*** go?

[cyberpj]

7. Texas, of course. "...visiting a boyhood home after attending a Republican fundraiser."

MIDLAND, Texas, Oct 4 (Reuters) - President George W. Bush said on Saturday that benefits from the recently passed financial bailout would take time to show up in the U.S. economy.

One day after Bush signed the $700 billion rescue package into law, he sought to assure the public the government would be careful in implementing the legislation aimed at easing a credit crisis that has created turbulence in global financial markets.

"In addition to addressing the immediate needs of our financial system, this package will also help to spur America's long-term economic growth," Bush said in his weekly radio address.

The president acknowledged more work lay ahead to stabilize financial markets where borrowing and lending have come to a standstill because of worries about bad debts.

"Obviously we've got to deal with this financial situation," Bush told reporters while visiting a boyhood home after attending a Republican fundraiser.

http://www.reuters.com/article/etfNews/idUSN0433694420081004?sp=true

[LeftishBrit]

9. I would not take Ambrose Evans-Pritchard as a reliable source on anything

Even by the standards of Torygraph writers, he is a right-wing loony. As a British journalist who was for a while a reporter from Washington, he combines the characteristic loony paranoia of American right-wingers (demonize Clinton and blame him for everything!) with the characteristic loony paranoia of British right-wingers (demonize the EU and blame it for everything!) And takes both to extremes.

It's obvious that the economy is not in good shape at the moment; but I wouldn't trust Evans-Pritchard for a diagnosis or prognosis. On that or anything else.

[OakCliffDem]

10. Kick