50 online
 
Most Popular Choices
Share on Facebook 12 Printer Friendly Page More Sharing
OpEdNews Op Eds    H3'ed 9/29/11

Imploding Bubble Economies

By       (Page 1 of 6 pages)   No comments
Message Stephen Lendman
Become a Fan
  (191 fans)

This piece was reprinted by OpEd News with permission or license. It may not be reproduced in any form without permission or license from the source.

Imploding Bubble Economies - by Stephen Lendman

Major media downplay imploding economies.

Economic meltdown comes in stages. Recognition takes longer. Tout TV pundits stay in denial longest, calling crisis conditions a normal correction.

Reality suggests otherwise with US unemployment approaching 23%, home foreclosures multiplying, and poverty levels double or more official distorted numbers that artificially hold them down.

Longtime market expert and regular Progressive Radio News Hour guest Bob Chapman says Eurozone countries are collapsing.

They're "in a state of contagion with six of its sovereign members in serious financial trouble....The creators of the EU, euro zone, and ECB have a failing monstrosity on their hands," an out-of-control debt bomb.

"There is absolutely no way a financial crisis can be avoided," and it's already been unfolding since 2008. No combination of countries can bail out others in crisis "without destroying themselves. Can 21 nations find $4 to $6 trillion to bail out six?"

Impossible! "Fragile isn't the word for it. Neither is contagion. The operative (word) is abject failure," heading for collapse.

Economist David Rosenberg sees "imminent" Greek default. In mid-September, its one year treasury yield exceeded 100%, telling intrepid investors it already happened for those willing to buy worthless junk.

Next Page  1  |  2  |  3  |  4  |  5  |  6

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

News 1   Interesting 1   Valuable 1  
Rate It | View Ratings

Stephen Lendman Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

VISIT MY WEBSITE: stephenlendman.org (Home - Stephen Lendman). Contact at lendmanstephen@sbcglobal.net.  My two Wall Street books are timely reading: "How Wall Street Fleeces America: Privatized Banking, Government (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

 
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert

To View Comments or Join the Conversation:

Tell A Friend