Dubai’s problems continue as a Nakheel, the Dubai World owned property developer shows a loss of $3.65 billion for the first half. The RBS Group fell 7.7% in London trading due to their involvement in Dubai (as if those bastards didn’t have enough shit to worry about already). Personally I don’t think they can withstand another blow.
Greece’s credit rating has been downgraded and the Athens’s Stock Exchange dropped 6% like mercury on dry ice.
Bloomberg reporting - Uri Landesman of ING Investments Management said “Greece is a whole lot more important than Dubai. There are a lot of banks, in Europe especially, that have exposure to Greece, so if there is a major problem in Greece, that would be more important than a problem in Dubai.” Take it from me Mr. Landesman – There are major problems in Greece. In fact Greece may well become the domino piece which triggers Europe’s second financial crisis.
German industrial output fell by 1.8% and if Germany’s output can fall that much, I hate to think what the outputs of Ireland, UK, France, Italy and the rest of EU will be. The Russians are dumping some of their green backs for a more favourable Canadian dollar and there are rumours now the Chinese may do the same. Run for the Canadian border. Just think folks, these events are only the appetizers. The main course is yet to come. Put your financial seatbelts on and your crash helmets, grab a parachute and get ready for a financial crash landing like you’ve never seen before.
Brrrrrr…it’s going to be one f….g cold winter for a lot of people. I am telling you friends... buckle up and bundle up. Oh yes…and the Asian economies…well, they are not in any better shape. With the two biggest consumer economies in the world – Europe and USA, declared MIA, China, India and Japan are not about to escape the tsunami heading for their shores. Add to the simmering stew, Mexico and the up and coming South American economies and what you have is a total eclipse of the financial sun on a global scale. Hello economic collapse - round two. Not exactly the healthy recovery the financial gurus of New York London and Europe, have been preaching to us the last few months. But…what do I know…I am just an 800 pound gorilla.
Again this is not news…It’s jungle Politics!
From the desk of Dr. Politikong…Over and Out
Greece’s credit rating has been downgraded and the Athens’s Stock Exchange dropped 6% like mercury on dry ice.
Bloomberg reporting - Uri Landesman of ING Investments Management said “Greece is a whole lot more important than Dubai. There are a lot of banks, in Europe especially, that have exposure to Greece, so if there is a major problem in Greece, that would be more important than a problem in Dubai.” Take it from me Mr. Landesman – There are major problems in Greece. In fact Greece may well become the domino piece which triggers Europe’s second financial crisis.
German industrial output fell by 1.8% and if Germany’s output can fall that much, I hate to think what the outputs of Ireland, UK, France, Italy and the rest of EU will be. The Russians are dumping some of their green backs for a more favourable Canadian dollar and there are rumours now the Chinese may do the same. Run for the Canadian border. Just think folks, these events are only the appetizers. The main course is yet to come. Put your financial seatbelts on and your crash helmets, grab a parachute and get ready for a financial crash landing like you’ve never seen before.
Brrrrrr…it’s going to be one f….g cold winter for a lot of people. I am telling you friends... buckle up and bundle up. Oh yes…and the Asian economies…well, they are not in any better shape. With the two biggest consumer economies in the world – Europe and USA, declared MIA, China, India and Japan are not about to escape the tsunami heading for their shores. Add to the simmering stew, Mexico and the up and coming South American economies and what you have is a total eclipse of the financial sun on a global scale. Hello economic collapse - round two. Not exactly the healthy recovery the financial gurus of New York London and Europe, have been preaching to us the last few months. But…what do I know…I am just an 800 pound gorilla.
Again this is not news…It’s jungle Politics!
From the desk of Dr. Politikong…Over and Out
Look you 800lb. gorilla get your thinking straight.We have turned the corner, with all this credit for seasonal shopping, everthing is on the upswing. Klink Ya.
ReplyDeleteI thought this blog was taken off.
ReplyDeleteGlad it's back.
Re: Anonymous December 21, 2009 5:10 PM
The only corner we have turned is the one that puts us in the second recession. We all get all these numbers and stats thrown at us to confuse us more. If Americans got their info from some where other than twitter and FBook they would understand.
SH CA.
A pessimistic picture you are painting Kong. But you are probably right. I just read an article in a European Magazine and it was basically saying the same thing. We are not out of the hole yet which means we are IN the hole.
ReplyDeleteGod help us.
Peter Nova Scotia
I saw this last week. Very informative but it's now old news.
ReplyDeleteGood one.
TX
Every blog I read I get nothing but bad news. Isn't there any hope? What the hell is going on? Two weeks ago our employer was assuring us things were just fine. Nothing to worry about. Now I am unemployed with mortgage and car payments.
ReplyDelete