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WORLD BANK BOSS: We're Headed For "Impending Catastrophe" -- "A Rerun Of Great Panic Of 2008"
TBI ^ | 6-202012 | Henry Blodget

Posted on 06/02/2012 4:30:14 PM PDT by blam

WORLD BANK BOSS: We're Headed For "Impending Catastrophe" -- "A Rerun Of Great Panic Of 2008"

Henry Blodget
Jun. 2, 2012, 9:51 AM

The head of the World Bank, Robert Zoellick, is about to step down after a 5-year term.

That means he can say what he really thinks.

Here, via the Daily Mail, is what he really thinks about what's going on in Europe and the global financial markets:

Financial markets face a rerun of the Great Panic of 2008.

* It's ‘far from clear that eurozone leaders have steeled themselves’ for the looming catastrophe amid fears of a Greek exit from the single currency and meltdown in Spain.

* ‘Events in Greece could trigger financial fright in Spain, Italy and across the eurozone. The summer of 2012 offers an eerie echo of 2008.... ‘If Greece leaves the eurozone, the contagion is impossible to predict, just as Lehman had unexpected consequences.’

* 'There will not be time for meetings of finance ministers to discuss the outlook and debate the politics.... 'In panicked markets, investors flee to safe assets, sparking other flames.’

Cheery stuff.

Zoellick's recommendation?

Huge, quick government bank bailouts.

In the meantime, the world, waits...

Read more at The Daily Mail

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: banks; blahblahblah; collapse; economy; fearmongering; investing; wereallgonnadie

1 posted on 06/02/2012 4:30:33 PM PDT by blam
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To: blam

While Barry fiddles.


2 posted on 06/02/2012 4:33:44 PM PDT by FlingWingFlyer (Free Stuff or Freedom! You Decide 2012.)
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To: blam

People have become comfortably numb to the catastrophe about to happen.


3 posted on 06/02/2012 4:45:21 PM PDT by griswold3 (Big Government does not tolerate rivals.)
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To: blam
Thank gawd we had the expertise of 0bama to see it coming and spend the trillions that he did to lessen the blow!

Otherwise things would be much MUCH worse than they are and are going to be.

4 posted on 06/02/2012 4:45:59 PM PDT by EGPWS (Trust in God, question everyone else)
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To: FlingWingFlyer
While Barry fiddles.

it's not his problem.

However, ruining the US economy is ruining the world economy. When the US sneezes, socialist states get pneumonia.

5 posted on 06/02/2012 4:46:31 PM PDT by the invisib1e hand (they have no god but caesar)
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To: blam

By the time this is done, we’ll be looking back on 2008 as “The Good Old Days”....


6 posted on 06/02/2012 4:50:56 PM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: blam

At some point, the “more plaster-and-wall-paper” approach to fixing the major cracks of the world financial system will clearly no longer work.

There will be a major deflationary re-set, as debt gets repudiated by both Gov’t and consumer


7 posted on 06/02/2012 4:54:08 PM PDT by PGR88
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To: blam
I have no debt. I grow my own food and have a fishing license. I own neither stocks nor bonds.

What I suspect deeply is manipulation, that we're being used.

Note: I am very conservative. I believe in the U.S.Constitution and in national defense. I am not a Ron Paul supporter nor do I believe in Bilderberger/Trilateral conspiracies.

One of the difficulties with true evil is it can appear to be so right, so correct, so seductive and logical we overlook the obvious: that underneath the slick veneer it isn't all that different from obvious evil. We've only convinced ourselves that it is better than the obvious evil OR we've allowed ourselves to be dragooned into a decision based upon fear.

So, if the U.S.A. said goodbye to the IMF...goodbye to the U.N. and pulled all our troops back stateside...who would be howling the loudest?

All Globalists.

8 posted on 06/02/2012 5:07:49 PM PDT by SatinDoll (NO FOREIGN NATIONALS AS OUR PRESIDENT)
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To: blam

I keep seeing this idiocy about the impending crash being another 2008. It’s garbage. This meltdown will make 2008 look like a blip. It might make 1929 look like a mild correction.


9 posted on 06/02/2012 5:14:13 PM PDT by piytar (The predator-class is furious that their prey are shooting back.)
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To: griswold3

I wouldn’t be surprised if no more than 25% of the American people have any idea what’s going on. And half of those who do say it’s Bush’s fault.


10 posted on 06/02/2012 5:18:34 PM PDT by Terry Mross ("It happened. And we let it happen." Peter Griffin - FAMILY GUY)
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To: piytar
The Global Credit Crunch Is Just Getting Started

Dorothea Lange Route 99 February 1939 "On U.S. 99 near Brawley, Imperial County, California. Homeless mother and youngest child of seven walking the highway from Phoenix, Arizona, where they picked cotton. Bound for San Diego, where the father hopes to get on relief 'because he once lived there.'"

11 posted on 06/02/2012 5:25:38 PM PDT by blam
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To: blam

‘There will not be time for meetings of finance ministers to discuss the outlook and debate the politics.... ‘In panicked markets, investors flee to safe assets, sparking other flames.’

They are already doing that. The 10Y UST hit 1.47% yesterday and currently 10Y Swiss notes are -0.30%. That’s right. You PAY the Swiss government to keep your money for two years.


12 posted on 06/02/2012 5:26:14 PM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: blam

BUUUUUSH’s fault. Bush’s fault, Bush’s fault, Bush’s fault!!! I didn’t do it, you can’t prove it, it isn’t me, no no no no no,,,,Bush’s fault, Bush’s fault, Bush’s fault!!!! Him, him, him, not me.

-Obama


13 posted on 06/02/2012 5:28:46 PM PDT by Wildbill22
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To: Wyatt's Torch
"That’s right. You PAY the Swiss government to keep your money for two years. "

Well!!

They do promise to give it back to you. (And, there's a good chance that they'll actually do it.)

14 posted on 06/02/2012 5:36:59 PM PDT by blam
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To: blam
The Time Has Come Mr. Bernanke For More Stimulus!
15 posted on 06/02/2012 6:03:56 PM PDT by blam
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To: blam
Gold went +$66.XX Baltic Dry Index http://www.bloomberg.com/quote/BDIY:IND/chart Read Zero Hedge.
16 posted on 06/02/2012 6:17:54 PM PDT by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spiritui Sancto.)
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To: blam

Obama:”La...la...la..I’m not listening....la....la..


17 posted on 06/02/2012 6:30:53 PM PDT by Huskrrrr ( the will)
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To: EGPWS
Thank gawd we had the expertise of 0bama to see it coming and spend the trillions that he did to lessen the blow!

I'll never forget John McCain letting this bas#$%d get away with saying he had warned about the impending housing crisis when in fact he was on the ground level suing banks with the aide of the Community Re-investment Act.

I still can't believe this moron sits in the White house.

18 posted on 06/02/2012 7:12:50 PM PDT by CommieCutter
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To: blam
Financial markets face a rerun of the Great Panic of 2008...Zoellick should know - he was one of James Johnson's henchmen who fought to keep Fannie Mae from being placed under stricter monitoring and regulation and to maintain its practices of pushing subprime loans and packaging them into risky mortgage bonds sold as investments to a gullible financial establishment - which led to the original Great Panic of 2008.......
19 posted on 06/02/2012 7:47:24 PM PDT by Intolerant in NJ
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To: blam

They are getting desperate. They will require all pension plans to be invested in treasuries. Start at 10% then 20% etc. Then, an emergency freeze on stock trading to avoid a collapse. When it re-opens, no shorts. Kind of like closing the banks.


20 posted on 06/02/2012 8:03:45 PM PDT by grumpygresh (Democrats delenda est; zero sera dans l'enfer bientot.)
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To: blam
‘Fear of the Future’ Keeps Lid on Economic Growth: Greenspan
21 posted on 06/03/2012 6:32:51 AM PDT by blam
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To: combat_boots
KEITH JUROW: Prepare For The Coming Housing Collapse

After being one of the few analysts who was correct in stating for the past two years that there is no housing bottom in sight, it’s time for me to tell you what I see ahead.

Housing pundits are nearly unanimous in declaring that housing markets are showing signs of bottoming. This is nonsense!

22 posted on 06/03/2012 7:30:06 AM PDT by blam
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To: griswold3
People have become comfortably numb to the catastrophe about to happen.

Head fake? When has financial catastrophe hit when people (even informed people) predicted?

Ok. Here's my prediction. Team Obams needs this stock market sell off to get the price of gasoline down. Leaks of QE3 will allow the market to climb back up gathering a heard of weak minded voters?

23 posted on 06/03/2012 7:47:16 AM PDT by Ramcat (Thank You American Veterans)
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To: combat_boots

Great Charts combat. I have a permanent page of unfudged numbers here:
http://www.futurnamics.com/slfed.php
I’ll have to ad some of the ones you posted. They all look hideous.


24 posted on 06/03/2012 11:01:59 AM PDT by DaxtonBrown (http://www.futurnamics.com/reid.php)
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To: blam

Check this out>>> http://www.businessinsider.com/raoul-pal-the-end-game-2012-6#

I just read your Jurrow link on housing bust


25 posted on 06/03/2012 3:19:58 PM PDT by dennisw
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To: griswold3

“Everything is fine today, that is our illusion.”...Voltaire


26 posted on 06/03/2012 3:49:51 PM PDT by Texas Songwriter (Ia)
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To: dennisw
Thanks.

I saw the Raoul Pal summary here:

The Bad Jobs Report Is Just A Very Small Taste Of The Nightmare That Is Coming

27 posted on 06/03/2012 8:43:27 PM PDT by blam
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To: blam

Glenn Beck just read the Raoul Pal information. It was on Business Insider and Zero Hedge. Then you have that free traitor Robert Zoelick (now heads World Bank) saying pretty much the same as Raoul Pal who I never even heard of before. He has described some likely events in a SHTF situation

Could you freep mail where is a better place than banks to put free cash. Under a Raoul Pal scenario there will be bank runs. You won’t be able to get all your money out...only half your money and you will get some kind of BS bond for the rest


28 posted on 06/04/2012 6:36:27 AM PDT by dennisw
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To: blam

BTW-— Did you hear just the other day this treasure hunter saying he located a ship off the Maine coast with 3 billion in platinum on board?

http://articles.boston.com/2012-02-01/metro/31008710_1_shipwreck-crew-members-merchant-ship

The Port Nicholson, a British steamer, was sailing from Halifax, Nova Scotia, to New York when a German U-boat torpedoed it during World War II, despite a heavy military escort. Four people died, while 87 were rescued.

Since then, it has remained on the ocean floor about 30 miles off Provincetown. The cargo, then valued at about $53 million, was a lend-lease payment to the United States from the Soviet Union.

Maine crew set to recover sunken $3b in platinum - Boston.com
articles.boston.com/.../31008710_1_shipwreck-crew-members-merch...
Feb 1, 2012 – Maine crew set to recover sunken $3b in platinum ... vehicle tethered to the Sea Hunter, a 214-foot salvage ship currently docked in East Boston. ... million, was a lend-lease payment to the United States from the Soviet Union.


29 posted on 06/04/2012 6:50:58 AM PDT by dennisw
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To: dennisw
"Could you freep mail where is a better place than banks to put free cash."

You Choose.


30 posted on 06/04/2012 6:52:41 AM PDT by blam
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To: dennisw
The platinum ship sounds familiar.

Will it affect platinum prices?

31 posted on 06/04/2012 6:54:40 AM PDT by blam
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To: blam

Getting the platinum to the surface will take a long time in my opinion. So it won’t affect platinum prices much.

When it sank the platinum was worth 64 million. Today it is worth about 3 billion. This is a rough indicator for the inflation we have had since 1943. Though today platinum has more industrial uses than it did in 1943


32 posted on 06/04/2012 7:23:14 AM PDT by dennisw
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To: dennisw
"Though today platinum has more industrial uses than it did in 1943 "

Yup.

I used to make billions and billions of Schottky platinum silicide transistors.
During one Xmas vacation years ago, someone stole our $50k platinum target out of the stock room at TI.

33 posted on 06/04/2012 10:02:05 AM PDT by blam
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