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New translation, the Magna Carta

  this should be widely read - ambrose evans-pritchard again

“Protectionism beckons as leaders push world into Depression”
—
“In Europe, policy is still on deflationary settings, with protestors in Athens fighting back against austerity measures.”
—
“The International Monetary Fund (IMF) expects the savings mountain to rise yet further next year as the governments of Europe, Britain, and the US tighten belts, in unison, by up to 2pc of GDP.”

While I agree with descriptions, and some of the fears, I do not agree with all the timorous conclusions.

The best possible action would be to undo the euro - fat chance.

Further, I do not trust protectionism. If places like China wish to sell us useful goods at knock-down prices, that should not harm us in the long run unless we act foolishly.

Nor is enough attention being paid to the increasing pools of savings.

related material
the foolishness of the european markets & the eurozone regime
EMU (European Monetary Union) and inflation – a civil liberty issue

 

 

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woe woe woe - the world will end in 285 days

Run run, the loonies are coming.

“The definition of a Debt Wall is the point at which total world government deficit spending exceeds 9%, and thereby forces interest rates to rise above the point of affordability for sovereign government borrowing.”
—
“On current projections of economic growth and government spending, the Debt Wall will be hit by July 31, 2012.”

World sovereign deficits, or the world capacity to fund government deficits. Source: IMF
World sovereign deficits, or the world capacity to fund government deficits. Source: IMF