Monday, Sep 22, 2008
The Shadow Banking System is unravelling
The Financial Times: The Shadow Banking System is unravelling
The real economic side of this financial crisis will be a severe US recession. Financial contagion, the strong euro, falling US imports, the bursting of European housing bubbles, high oil prices and a hawkish European Central Bank will lead to a recession in the eurozone, the UK and most advanced economies.
Posted by v stor @ 09:39 AM (618 views) Add Comment
8 Comments
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1. Landedgentry said...
"Of course this severe financial crisis is also taking its toll on traditional banks: hundreds are insolvent and will have to close."
Doesn't London have more international banks than anywhere else?
2. planning4acrash said...
What about the shadow government? The Council on Foreign Relations, Bilderberg, etc?
3. harold said...
P4C, good question - but this is the FT; you can't expect a servant to rat on his master.
But silly me - shadow government is just the creation of conspiracy theorists' fevered imaginations. After all, we live in a democracy.
4. planning4acrash said...
Of course, in this Orwellian nightmare, anything counter to government propaganda and Murdoch's empire is "A Conspiracy Theory"! And, I forgot to add, the government loves you, bow down to your master, lick their boots in servitude, whilst they fill their boots.
5. layers said...
There's also the neo-conservatives (pat buchanan et al) following their straussian (ie Machievellian) agendas cloacked in Christian dictates that whatever's happening is God's will. The ends truly justifying the means. Dominionism is their true agenda whereby those in power are there by God's decree, and if you object, they'll quote scripture and have you carted off and executed. You should love the state because it's God's will, and dissention is therefore, the 'anit-christ'.
http://www.sott.net/articles/show/165994-The-Dominionism-Apostasy-The-Despoiling-of-America-by-Christianity-turned-Evil
Truly terrifying if they get their way.
6. Dbc Reed said...
The summary of this article does say that it 's from the Ft but not that its by Nouriel Roubini ,which puts it in on different level from most dire warnings.
7. japanese uncle said...
Shadow banking system literally constutues non-disclosure of material facts, thus all individuals concerned in creation and development and maintenance of this unscurupulous practice must be criminally procecuted and imprisoned, subject to confiscation of all of their assets save minimum asset to maintain their dependents. Otherwise how can they justify taxpayers' bail-out?
8. shipbuilder said...
3. planning4acrash said...
"Of course, in this Orwellian nightmare, anything counter to government propaganda and Murdoch's empire is "A Conspiracy Theory"! And, I forgot to add, the government loves you, bow down to your master, lick their boots in servitude, whilst they fill their boots."
No, actually very few opinions counter to the powers that be are considered as conspiracy theories. Just the ridiculous unproven ones. The clue's in the name.
The real problem being that the conspiracy theorists taint the genuine counter-arguments, thereby strengthening the party line of those in power.