G20/Credit Bubble Report: "It’s been my thesis that we’re at the late phase of a historic global Credit boom. During much of the Bubble’s upside, the global economic pie was getting bigger. This provided powerful impetus to mutual interests, cooperation and integration. There was the capacity to forge international consensus on various pressing financial and economic issues – as well as even the ability to muster a “coalition of the willing” for major military operations. The world is transitioning into a quite different environment. Despite desperate measure after desperate measure, a most over-extended global Bubble is convulsing erratically. The economic pie is stagnating - and on its way to contracting. This dynamic ensures an increasingly powerful pull of diverging interests, disagreement, fragmentation and confrontation."
Posted on: Sat, 07 Sep 2013 15:29:56 +0000
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