Skip to comments.'Beware a rerun of the Great Panic of 2008': Head of World Bank warns Europe is heading...
Posted on 06/01/2012 7:53:15 PM PDT by TigerLikesRooster
'Beware a rerun of the Great Panic of 2008': Head of World Bank warns Europe is heading for 'danger zone' as world markets suffer bleakest day of the year so far
Robert Zoellick: 'Far from clear leaders ready for impending catastrophe'
Raft of dismal news from around world wreaked havoc on market
Manufacturing output crashed in Britain, jobless up in Europe and U.S.
Fast-emerging economies such as Brazil and China running out of steam
By Hugo Duncan
PUBLISHED: 15:49 GMT, 1 June 2012 | UPDATED: 22:52 GMT, 1 June 2012
The head of the World Bank yesterday warned that financial markets face a rerun of the Great Panic of 2008.
On the bleakest day for the global economy this year, Robert Zoellick said crisis-torn Europe was heading for the danger zone.
Mr Zoellick, who stands down at the end of the month after five years in charge of the watchdog, said it was 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.
The flow of money into so-called safe havens such as UK, German and US government debt turned into a stampede yesterday.
In Berlin the two-year government bond yield fell below zero for the first time, with the bizarre result that jittery international investors are now paying rather than being paid for lending to Germany.
There was a raft of dismal economic news from around the world, with manufacturing output falling in Britain and Europe, unemployment jumping in the eurozone and America, and fast-emerging economies such as Brazil and China showing signs of running out of steam.
(Excerpt) Read more at dailymail.co.uk ...
I need to buy more rice......
Ben will save us all by adding a few digital zeros to the debt. sarcasm.
“The head of the World Bank yesterday warned that financial markets face a rerun of the Great Panic of 2008. “
Is there anyone who really believes its not going to be much worse than 2008?
And then he'll add a few digital zeros to the money supply to pay for the additional debt. It's a beautiful world.
add a few downward notches to his comment, and you get the reality in immediate future.
add a several or many downward notches, and you get the eventual scenario.
How much was the bailout that ‘got us out’ of 2008? This will be several orders of magnitude greater unless we get some wise leaders very very soon. Seeing whats happening in Wisconsin gives me some hope.
Did this bankster Zoellick take a break from the Bilderberg confab. He should know first hand what economic disaster is heading our way, he’s part of the cabal orchestrating what’s coming... He’s in Chantilly VA right now sitting down with a number of other major world bankers planning the end game.
If it comes down to barbarity for some period of time, where you want to be is in a nation with ample food production to feed its own populace, sufficient fuel production to maintain its own basic functioning, the weaponry and the will to defend it and a government that retains the will for national survival.
Get the Obama regime out of Washington, DC and get the EPA away from oil shales and fracking, and that describes the United States.
Who else? Brazil? Canada? Russia? Find the answer and you will have identified the new axis of power on the world stage, but only if TSHTF.
Don’t warn me of something I already know, better warn immigrants and others. Countries in Europe are about to explode in cleansing stupid trash.
You be better of warning about that. Not this idiotic propaganda media, full of idiots with no knowledge of history. Remember Ceausescu?
Wait until September or October, and Romney can spend four years blaming it on Obama.
Ample food production - fresh water everywhere - Hydro electric power generation - healthy and benign climate - stable government - peaceful population - access to firearms - good medical system - popular culture similar to the US of the 1950’s - very friendly to Americans = COSTA RICA
If there is ever a major crash, I may want to see a big bag or rice but at the rate our family goes through bags of rice I'm not sure I would miss it if I never came across one during an emergency.
Great, no food except this RICE!
Real power friend is not in names, it is who control resources and have power to control those who don’t have it.
United States, and Russia have resources that people can only dream of, Russians are playing chess game, Obama and American politicians.. well you know the story.
If politicians in United States will listen to their people, America will be absolute power house.
I don’t live in dreams, but reality and I wish it was true; its like dreams of great people just fade away.
It’s going to get worse before it gets better, sorry to say.
Yes my friend, it is so true. Sad but your words speak reality of truth.
We all can feel it, but no politician or reporters will admit to it.
We know is bad, and as you have said, it will get worst.
Hell yes! Zeros are cheap and plentiful... 100000000000000000000000000000000
Are there jobs for hard working, smart, ex-pats. I got a bit of a bankroll but not enough to survive what is coming like a freight train