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World Stocks Down

Written by Gary North on July 12, 2012

The news is bad from Asia. The stock markets are all down. News is bad from Europe. The stock markets are all down.

Employment in Australia fell in June by 27,000 jobs. Yet Australia has been booming.

China’s boom is faltering.

The recession’s signs are spreading.

South Korea’s central bank has announced an interest rate cut. Its stock market fell.

The Federal Reserve’s most recent minutes announced that it would not adopt QE3. American stocks fell.

The stock markets boom briefly after a weekend emergency meeting of Europe’s politicians. They make some grand announcement about a new solution to Europe’s growing banking crisis. Then a few hours, days, or weeks later, the plan unravels. There is no solution other than mass inflation. The PIIGS are bust. The northern European banks are loaded to the gills with IOUs issued by PIIGS governments. There may be a default by Greece, then Spain, then Italy. Solution: central bank inflation. The meetings accomplish nothing of substance. They are public relations stunts.

If Asia is slowing, Europe is falling, and the United States is slowing, from where will recovery come? Who is Atlas in this picture? He is AWOL.

We see three drunks staggering home after a night on the town. They are holding up each other. But one drunk — Europe — is tottering badly. If he falls, he will pull down the other two.

Continue Reading on in.reuters.com

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2 thoughts on “World Stocks Down

  1. Max Penn says:

    In less then 10 years the interest on our debt will exceed all the money the entire economy generates!! There will be no welfare, social security, Medicare, the military will be no more. You money will not buy you a roll of toilet paper. Then the bad guys will come knocking on your door! It's going to be interesting.

  2. Jim in Tucson says:

    There is so much We, the People can still do and still join together on so many issues with all kinds of groups and sorted organization allies to gain our Country back from the Fascism to some and Tyranny to some and corruption and manipulation to most.
    I personally don't understand why any of us has to obey ANY Laws anymore when Our president and congress and department of Justice including the Supreme Court pick and choose which laws they will adhere to and pick and choose which to enforce in spite of their sworn oaths. There are peaceful ways to get together with many groups left and right and even the anarchists to force the government to step down or down size dramatically. Many that No One has even touched on. Anti-government complete labor shut downs for one. Like they did back in the "80's" in Poland to gain their independence.) The free markets in the U.S. and the stock market is now completely manipulated and controlled and corrupted by government insider trading. The internet is controlled almost entirely by UN, NSA, CIA, Obama Administration, FBI and all local law enforcement. Homeland security is here to kill us, not help us. The Army is training to detain or kill us. (http://www.prisonplanet.com/army-manual-outlines-plan-to-kill-rioters-in-america.html). According to DHS, the American public is the enemy!
    We could even make it complete chaos for them to try and round us up in the FEMMA Camps by "Ghosting" our addresses and changing our onboard computers in our cars and leaving cell phones in different places or swapping with people and buying jammers and tracker blockers and even create an entire new industry of anti-government blocking in the process so they can't eaves drop or locate you etc, etc. Not to mention the huge revenue loses we, the people could inflict. If the majority of people would just stop adhering to laws, there would be a complete breakdown. We ALL, left and right and the Anarchist could crash the dollar and not recognize the debt. The U.S. does not and never did own the dollar. It is a third party printed paper. They do not have collateral to back up how much play money they print and lent the U.S. government and that is the very reason Kennedy was killed. If we crash it now as opposed to the U.S. government crashing it anyway in a couple of years, we get our input and vote to not acknowledge the debt as ours like Iceland (but we take up arms as a deterrent against China and NWO) did and they are fine. Crash the government under our terms that the U.S., constitution is fully 100% restored (We would have been taken over a long time ago without the 2nd amendment in spite of how people think about owning a firearm.) and then lets go another couple hundred years til we have this discussion again. Either way everyone, the U.S. government is crashing but they want to wipe us all out with it and then fall under complete UN law. That IS THE PLAN, PERIOD Let's control our demise and let the crash hurt but get it over with but on our terms so lets join with even Occupy Wall Street people and bring all those "Ivory Towers" down with the lawyers and the Elitists with it. We can join together on so many issues and yet be so defiant as we Americans were bred to be in the face of tyranny and Fascism. Now that's American.
    I just saying…