Tuesday, October 13, 2015

IN the NEWS - Global Economy in 3 Acts

"Europe has seen nothing like this for 70 years – the visible expression of a world where order is collapsing. The millions of refugees fleeing from ceaseless Middle Eastern war and barbarism are voting with their feet, despairing of their futures. The catalyst for their despair – the shredding of state structures and grip of Islamic fundamentalism on young Muslim minds – shows no sign of disappearing.

Yet there is a parallel collapse in the economic order that is less conspicuous: the hundreds of billions of dollars fleeing emerging economies, from Brazil to China, don’t come with images of women and children on capsizing boats. Nor do banks that have lent trillions that will never be repaid post gruesome videos.

Capital flight and bank fragility are profound dysfunctions in the way the global economy is now organised that will surface as real-world economic dislocation.
The IMF is profoundly concerned, warning at last week’s annual meeting in Peru of $3trillion of excess credit globally and weakening global economic growth. But while it knows there needs to be an international co-ordinated response, no progress is likely. 
           






And that no man might buy or sell,
save he that had the mark, or the name of the beast,
or the number of his name.
Revelation 13:17