Goodbye America, Goodbye Britain. Alan Franklin comments on the coming financial meltdown - potential "financial apocalypse" as one writer puts it.
15/09/2010

ALAN writes: Since 2006 we have been warning of the coming Greater Depression. Our book Goodbye America, Goodbye Britain, warned of some of the troubles now engulfing both our nations, stemming from our shared spiritual malaise and the failure of the church to preach the whole Word of God.

These troubles are just getting started, contrary to what big media and so-called expert commentators will tell you. Although most people think banks are now safe, many are not. There are trillions in dodgy debts on the books of many of the world’s big banks and their reckless lending problem has by no means been resolved, just covered up by governments showering them with hundreds of billions of taxpayers’ money, at ultra low interest rates.

America and Britain are being judged for many things, from abortion to their poor treatment of Israel, as we set out in our book. They are being judged by Islamic invasion – these two nations which turned back Jews fleeing Hitler’s holocaust. They are also being judged by the coming financial crash, of which more below in this story from London’s Daily Mail.

You thought the worst was over and the stock market was rising serenely? Well, it is true that some companies are doing well and their stocks are good investments. However, overall, firms are not hiring, government debt is climbing, states and nations are going broke and the future looks grim. I believe it will be worse than the 1930s, which is why I advise people to, among other things, learn how to live frugally and grow vegetables if you have any land. Any plot - however small - can produce vegetables for the table.

Now here’s the Mail story, which tries to end on an upbeat note. The note is off-key, in my opinion. Batten down the hatches!

Gloom as economists warn that the U.S. is 'running out of bullets' and in danger of financial apocalypse

By Daily Mail Reporter

U.S. observers have given dire warnings that the world's number one economy is on the brink of collapse. High rates of unemployment and a spiraling public deficit have seen economists such as Nouriel Roubini coming forward with predictions of a 'financial apocalypse' in the U.S.Mr Roubini's views have been thrust to the forefront after he predicted the chaos wrought by the subprime mortgage crisis and the collapse of the housing bubble.

 

'The U.S. has run out of bullets,' Mr Roubini (widely known as "Dr. Doom) told an economic forum in Italy earlier this month. 'Any shock at this point can tip you back into recession.'Other economists are also predicting nightmarish visions of the future.  Boston University professor Laurence Kotlikoff, who warned back in the 1980s of the dangers of a public deficit, lent credence to the gloomy predictions in an International Monetary Fund publication last week.

 

He unveiled a scenario of an economic clash between superpowers the United States and China, which holds more than 843 billion dollars of U.S. Treasury bonds.But the warnings in the U.S. come at the same time as stocks rose sharply in a sign investors were gaining confidence in the banking sector.  

 

New economic reports today show robust growth in the world's second-largest economy, China, which continues to accelerate at a time when economists were expecting it to slow. Strong growth in China is considered vital to a global recovery because if demand remains high there, it will offset sluggish growth in the US where economic expansion is not as strong.New global regulations have also added to confidence in Europe's banks, which have been slower than their U.S. counterparts to bolster reserves. 

 

Some major corporate acquisitions were announced, which are often a sign of confidence in an expanding economy.Global regulators agreed to reforms that could help avoid another credit crisis that plagued financial markets worldwide in 2008. Banks will gradually have to increase their reserves to protect against potential losses.The Dow has climbed seven of the past eight days and is up 4.5 per cent in September, which is typically one of the weakest months of the year for the market.Trading volume is also expected to pick up this week as traders return from summer vacations and recent holidays.



Read more: http://www.dailymail.co.uk/news/worldnews/article-1311679/Financial-gloom-US-economists-warn-financial-apocalypse--signs-growth.html#ixzz0zRVFMFZm


 
 
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