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Shoeshine Boy

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Extract from GEAB N°12: Impact phase of the Global Systemic Crisis: April 2007:

Inflexion point of the phase of impact US economy enters recession............

"In April 2007, nine practical consequences of the unfolding crisis will converge:

1. Acceleration of the pace and size of bankruptcies among US financial organisations: from one per week today to one per day in April

2. Spectacular rise of US home foreclosures: 10 million Americans out on the street

3. Accelerating collapse of housing prices in the US: - 25%

4. Entry into recession of the US economy in April 2007

5. Precipitous rate cut by the US Federal Reserve

6. Growing importance of China-USA trade conflicts

7. China's shift out of US dollars / Yen carry trade reversal

8. Sudden drop of US dollar value against Euro, Yuan and Yen

9. Tumble of Sterling Pound

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