Rising Concern On China Debt

April 9th, 2014
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There is increasing concern at the rise in public and private debt in China relative to GDP. This concern is across the board: internal and external, public policymakers and private financial interests and investors. Some commentators are following the path of false optimism; no matter the size of China’s debt, the second largest economy in the world has the capacity to contain the problem-so they claim. That remains to be seen.

By some estimates,  Chinese financial institutions are holding up to $3 trillion is bad or at least questionable debt, equivalent to America’s subprime mortgages that exploded in 2008, ushering in the global economic crisis. If Beijing is unable to contain the growing debt problem and it were to explode, the contagion would be at least as virulent as the impact on the global economy due to the subprime meltdown in the United States.

Of all the somber economic trends underway-and there are many-China’s accumulating public and private debt problems are the most vexatious.

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

CLICK ON IMAGE TO VIEW VIDEO

Hillary Clinton Nude

 

global economic crisis , ,

Hillary Clinton Nude (controversial book) – 2016 U.S. Presidential Election

March 28th, 2014
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CLICK ON IMAGE TO VIEW VIDEO

Hillary Clinton Nude

Chilling video about Hillary Clinton and the 2016 presidential election from the author of the provocative book, “Hillary Clinton Nude: Naked Ambition, Hillary Clinton And America’s Demise.” Originally written prior to Hillary Clinton’s last presidential run in 2008, “Hillary Clinton Nude” is a book that is even more timely as the former First Lady, Senator from New York and Secretary of State is being heralded as the likely nominee of the Democratic Party for President of the United States in 2016. In 1933, another democracy freely voted for a megalomaniacal politician. The lessons of the past must not be ignored in 2016 as Hillary Clinton mounts her campaign to secure her lifetime obsession of winning the presidency of the world’s most powerful democracy, the United States of America.
In 2008, Hillary Clinton was also viewed as the frontrunner for the Democratic nomination, but was overtaken by the surprise challenge of Barack Obama. A major factor in Hillary Clinton’s defeat in 2008 was her political arrogance, which led to complacency that was exploited by Obama’s campaign advisors. A chastened Hillary Clinton now seeks to secure the presidency in 2016, seeking to be America’s first female president. “Hillary Clinton Nude” is a devastating, non-partisan critique of Hillary Clinton and her qualifications for the presidency. As Hillary Clinton builds momentum towards her 2016 presidential objective, bringing about a second Clinton presidency with former president Bill Clinton returning to the White House as her key advisor, America must ask the hard question: is the creation of a dynasty compatible with democratic, constitutional government? Can the failure of another republic in 1933-Weimar Germany- provide lessons for the American republic in 2016? The Spanish-American philosopher Santayana wrote: “Those who forget the lessons of the past are condemned to repeat them.”If Hillary Clinton is elected U.S. president in 2016 and serves two terms, that will mean that over a period from 1989 to 2025 -36 years – two families (Bush and Clinton) will have controlled the White House for 28 years, or three quarters of that period; in effect, a two-family dynasty monopolizing the vast powers of the U.S. presidency.

The author of “Hillary Clinton Nude,” Sheldon Filger, is a blogger with the Huffington Post (http://www.huffingtonpost.com/sheldon-filger/ ) and founder of the website, http://www.GlobalEconomicCrisis.com . “Hillary Clinton Nude is available as hard copy and as an eBook at http://www.amazon.com/Hillary-Clinton-Nude-Ambition-Americas-ebook/dp/B006FKH5IE/ref=tmm_kin_swatch_0?_encoding=UTF8&sr=&qid=

global economic crisis

Russia Ukraine Crisis Over Crimea Could Unleash New Round of Global Economic Crisis

March 28th, 2014
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The apparent relapse into a new Cold War between Russia and the Western nations over the annexation of Crimea by Moscow  will almost certainly have grave repercussions for the global economy. Starting with Russia, the tensions with Ukraine and her Western allies have resulted in economic sanctions, with more threatened. The World Bank has just released a report, suggesting that increased sanctions could result in capital outflows from Russia of $ 133 billion for 2014, with GDP contraction of 1.8 percent, resulting in a recession.

The tit-for-tat sanctions and increased tensions will also hammer Western economies, however. Europe is highly dependent on Russian-supplied oil and natural gas, Furthermore, the already fragile Eurozone will also be hurt by sanctions, either imposed  on Russia or by Russia. The politicians of the world it would seem are not satisfied with all their past blunders-they now want to start a new global crisis, which among other things, will likely exacerbate the still ongoing global economic crisis.

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

Hillary Clinton Nude

Chilling video about Hillary Clinton and the 2016 presidential election from the author of the provocative book, “Hillary Clinton Nude: Naked Ambition, Hillary Clinton And America’s Demise.”

HILLARY CLINTON NUDE

 

 

 

 

 

 

 

global economic crisis , , , ,

Vladimir Putin Can Learn A Lesson From History Taught By Joseph Stalin

March 6th, 2014
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For the past fourteen years, Vladimir Putin has been at the center of Russian power politics, either as president or prime minister. When he succeeded his predecessor, Boris Yeltsin, Russia was economically in freefall, and on the verge of permanent anarchy in the wake of the chaotic dissolution of the Soviet Union. Mr. Putin brought stability to Russia, and to some extent has rebuilt the nation’s economy. However, there has been a darker side to Putin’s governance of the Russian federation. Political pluralism in Russia has been increasingly marginalized, and a raw edge to Moscow’s foreign policy has been in evidence, witnessed most deploringly by Putin’s indispensible support for the barbarous war Syria’s discredited president, Basher Assad, has been waging against his own people. All that, however, pales in comparison with what is now unfolding in Ukraine, which unless wisdom soon prevails, may spark a renewal of the Cold War.

It has been said by diplomats and foreign leaders who have met Putin that he harbors designs of rebuilding the territorial continuity that existed within the former Soviet Union. Ukraine was not only an integral part of the U.S.S.R., but for hundreds of years was the indispensible bread basket of the Russian Empire. Putin’s decision to intervene militarily  in the internal political phenomena unfolding in the sovereign Ukrainian nation arouses grave concern that Putin may be willing to risk global instability and possibly worse for the sake of forcing Ukraine to come again under Russian domination, either overtly or in more subtle forms. If that is Mr. Putin’s intention regarding Ukraine, he would be wise to learn from a previous Russian ruler, one far more ruthless and calculating than President Putin will ever be.

Joseph Stalin ruled the Soviet Union as dictator for nearly three decades with an iron grip. He was frequently ruthless, and merciless in purging his enemies. Yet, at times, he could display a surprising ability to learn from his mistakes and exercise restraint and wisdom in dealing with issues that touched on core Russian national interests.

When World War II broke out, Russia was in its early phases a neutral country, having signed a non-aggression pact with Nazi Germany. Stalin saw the distraction created by a new global war as an opportunity to recover territories that had formerly been part of the Russian Empire, but had slipped away after the Russian revolution of 1917. Making aggressive use of his military, Stalin seized part of Poland and Romania, and at gunpoint brought the three Baltic republics back under Russian control. There then remained Finland, another former part of the Russian Empire that became an independent nation after the Russian revolution. Convinced his massive army could easily overcome a country of only four million, Stalin launched an unprovoked attack on Finland. His official justification bares comparison to contemporary claims made by Putin to justify his interference in the Ukraine; an exiled Finnish communist was permitted to form a “government” on Russian soil, which Moscow promptly recognized as the legitimate government of Finland. That same rump regime then “requested” that Stalin “liberate” the suffering people of Finland, and restore them to the Soviet motherland.

The cynical political maneuver by Stalin could not cope, however, with the patriotism of the Finnish people, who tenaciously resisted the Russian invasion. In the early months of the war that followed Russia’s invasion, the tiny Finnish army inflicted a humiliating defeat on the much larger Soviet army. It was only after accumulating hundreds of thousands of casualties that Stalin’s army slowly began to penetrate Finnish defenses.

A treaty was signed, requiring Finland to surrender substantial territory to the Soviet Union. This left a deep feeling of bitterness and hatred towards Russia. When Nazi Germany broke its non-aggression pact and invaded Russia in 1941, Finland had the distinction of being the only democracy to ally itself with Hitler, hoping to reclaim its lost territories.

At an unimaginable human cost, the Russians eventually repelled the German invasion. As a German defeat became inevitable, the Soviets were in a position to conquer Finland or impose a communist government, as they were to do in Eastern Europe. However, based on the costly lesson he had learned earlier, Stalin chose a different track. He granted Finland a peace treaty with surprisingly lenient terms. The Finns did have to return to the original border that existed before the German invasion of Russia, and pay an indemnity. However, Finland was permitted to remain a free, sovereign nation, with the political and economic system determined by its own people, without interference from Moscow. The only requirement Stalin imposed on Finland was that the country adopt a neutral foreign policy, and not join any military alliance hostile to Russia.

The policy Stalin enacted towards Finland, which came to be known as Finlandization, served Russia’s supreme national interests well for decades, while preserving Finland as a sovereign, democratic country with an economy characterized by a strong private sector.

As Vladimir Putin ponders his next move in the potentially calamitous crisis over Ukraine’s political evolution, he would render a great service to his own country and world peace if he were to reflect on a costly lesson, well learned, by Russia’s greatest and most ruthless Tsar.

 

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

Hillary Clinton Nude

 

Chilling video about Hillary Clinton and the 2016 presidential election from the author of the provocative book, “Hillary Clinton Nude: Naked Ambition, Hillary Clinton And America’s Demise.”

HILLARY CLINTON NUDE

 

 

 

 

 

 

 

global economic crisis , , ,

Corporate Debt In China Soars To Record Levels

March 5th, 2014
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According to a survey recently conducted by Reuters of 945 Chinese companies outside of the banking  and financial services sector, corporate debt in China increased by 260 percent over a 5-year period. This rate of increase within the corporate sector that is occurring in China is unprecedented; no other nation’s example demonstrates such a cascade of corporate debt among any other major economy over a similar period of time.

At present, corporate debt in China outside financial services has reached the staggering level of 12 trillion dollars. This is equal to 120 percent of China’s GDP, and about 15 percent of global GDP. This is a startling figure of corporate leverage in China, and comes on top of the rapid rise  in local government debt in China, which I discussed in a previous blog post. There are implications of a worldwide character for this massive accumulation of private and public debt in China, which cannot have its impact in the entire global economy.

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

Hillary Clinton Nude

 

Chilling video about Hillary Clinton and the 2016 presidential election from the author of the provocative book, “Hillary Clinton Nude: Naked Ambition, Hillary Clinton And America’s Demise.”

HILLARY CLINTON NUDE

 

 

 

 

 

 

 

global economic crisis , , ,

Venezuela ‘s Economy In Deep Crisis: Is the Abyss Near?

February 26th, 2014
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The so-called “Bolivarian Revolution,” the term used by the left-wing regime in Caracas to describe the social and economic experiment they have imposed on Venezuela for the last 15 years, has made the late Venezuelan leader, Hugo Chavez, and his hand-picked successor, President Nicolas Maduro, the darlings of left-leaning pundits. But the charade that is the Venezuelan economy, built on the world’s 5th largest proven oil reserves and official economic statistics that have no connection with reality, appears to be on the verge of collapse. Rocketing inflation, a currency rapidly losing its intrinsic value, and an economy that cannot even produce  or purchase enough toilet paper for its citizens, combined with one of the worst murder rates in the world, have brought the masses, in the tens of thousands, into the streets.

The so-called progressive regime in Venezuela has reacted to the public protests in a manner not dissimilar to other repressive regimes; brutal suppression by the authorities , including the use of live ammunition, and arresting a key opposition figure  and other “troublemakers.”

An excellent analysis of the economic and political chaos that is occurring in Venezuela appeared recently in the Toronto Globe and  Mail,  written by Stephanie Nolen  and entitled, “With oil economy running on fumes, Venezuela ‘on the edge of the apocalypse.’ ” The link to the article is here; http://www.theglobeandmail.com/news/world/venezuelas-economy-on-the-edge-of-the-apocalypse/article16845406/

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

Hillary Clinton Nude

 

Chilling video about Hillary Clinton and the 2016 presidential election from the author of the provocative book, “Hillary Clinton Nude: Naked Ambition, Hillary Clinton And America’s Demise.”

HILLARY CLINTON NUDE

 

 

 

 

 

 

global economic crisis , , , ,

Greece Unemployment Rate Continues To Rise

February 14th, 2014
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The Greek debt crisis,  epicenter of the Eurozone debt crisis, has in recent months receded from the global headlines. This may have given a false impression that the Greek economic crisis has been solved.  However, official statistics just released by Athens demonstrate that Greece remains struck in a fiscal and economic catastrophe that is clearly a depression by any known measurement.

In November, the Greek jobless rate reached a record high level of 28 percent, an increase from the unemployment figures from the previous month, which stood at 27.7 percent. Most alarming, youth unemployment in Greece, defined as those seeking jobs under the age of 25, now stands at  a staggering and almost incomprehensible 61.4 percent.

To understand how disastrous the unemployment rate is in Greece, just compare the current level of 28 percent with the jobless rate prior to the onset of the nation’s debt crisis in May of 2010, which stood below 12 percent. Official  talk from the government in Athens is that thanks to the skill and brilliance of Greek politicians, the country’s economic woes are on the mend. Reality says something very different.

 

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

Hillary Clinton Nude

Chilling video about Hillary Clinton and the 2016 presidential election from the author of the provocative book, “Hillary Clinton Nude: Naked Ambition, Hillary Clinton And America’s Demise.”

HILLARY CLINTON NUDE

 

 

 

 

 

 

global economic crisis , , ,

New Fed Chair Janet Yellen Faces Global Financial Woes From Tapering

February 5th, 2014
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With Ben Bernanke  now gone (but not forgotten), Janet Yellen replaces him in the role of being the most important central banker on the planet. However, Ms. Yellen does not begin her role as the first woman to serve as chair of the U.S. Federal Reserve at the most auspicious of times.

In its latest version of quantitative easing, the Fed had been purchasing 85 billion dollars a month of bonds with money it prints at will, seeking to keep the economy afloat and interest rates artificially low. However, even the architect of this program, Bernanke, knew that this avalanche of manufactured liquidity was unsustainable in the long term. Thus, the Fed began a process known as “tapering,” in effect, slowly winding down the bond buying program and hope and pray that the world financial system doesn’t come apart at the seams.

Thus far, the bond purchasing program has been modestly reduced, initially to 75 billion dollars each month, with an announcement of a forthcoming reduction to 65 billion dollars per month. Despite these modest efforts at tapering its vast money printing operation, the Fed’s moves have already initiated global panic, reflected in wild volatility in equity exchanges all across the world. Stock markets, bloated by easy money printed by the Federal Reserve, are showing their fragility even during this initial, early period of monetary tapering.

Even more worrisome than the wild swings on Wall Street and many other stock markets has been the impact of tapering on major emerging markets. At its peak, quantitative easing had the effect of putting into the hands of major investors cheap money, but with virtual zero interest rates at home . The result of all this was to send this horde of cheap  U.S. dollars overseas, where a higher rate of return was offered by riskier emerging markets. However, the onset of tapering points to higher interests rates in the future for the U.S. economy, leading to the start of a process of repatriation of those cheap dollars back to the United States. As the process begins, emerging markets are already feeling the pinch, with nations such as Turkey, Brazil and South Africa beginning to incur fiscal pressure, leading to significant runs on their currencies concomitant with a rise in interest rates.

Fed Chair Yellen will now face the daunting task of unwinding the monetary mess created by her processor, supposedly for the purpose of saving the U.S. economy from the mistakes made by past policymakers, including former Fed Chairman Bernanke. As we are witnessing with the increasing fragility of emerging markets, the future policies of Yellen will have a decisive impact on the entire global economy, for good or ill.

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

Hillary Clinton Nude

 

Hillary Clinton Nude

HILLARY CLINTON NUDE

 

 

 

 

 

global economic crisis , , , , ,

China Economic Growth Is Stagnating

January 23rd, 2014
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According to China’s National Bureau of Statistics, the nation’s GDP in 2013 grew by 7.7 percent over the prior year, beating the original forecast of 7.5 percent, albeit by a small margin. On the surface, this is an impressive performance that the U.S. and Eurozone can only dream of emulating. However, a caveat is always required in assessing official Chinese economic data. Not only is Beijing suspect and at times manipulative in compiling the nation’s economic statistics (as are many other countries), it must be remembered that China’s GDP growth is seeded with massive borrowing by local governments, which in turn invest in vast infrastructure projects, which often have little real economic utility, such as uninhabited housing projects.

The truly important news with the 2013 GDP numbers from China is that they represent a marked slowdown in economic growth, when relying on just official government economic data. The current level of GDP growth is far removed from the brighter days when China achieved double digit growth year after year, for a decade or more. It is clear that China’s remarkable economic growth is slowing down, and that could be a preview for a period of much higher unemployment with concomitant political instability.

 

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

Hillary Clinton Nude

 

Hillary Clinton Nude

HILLARY CLINTON NUDE

 

 

 

 

global economic crisis , ,

Hillary Clinton Nude

January 18th, 2014
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Time magazine has just run a cover story about Hillary Clinton with the ominous title, “Can Anyone Stop Hillary?”  The cover has a peculiar graphic; rather than Hillary Clinton’s face, only a leg clad in navy blue pants, foot shod in black leather kitten  heels revealing a clinging tiny man, representative of the increasingly feeble field of Republican men seeking to challenge the presumptive nominee of the Democratic Party in the 2016 U.S. presidential election.

Hillary Clinton has come a long way since her defeat at the hands of Barack Obama in the 2008 presidential primaries. Though a final, official decision is likely a year away, the smart money in Washington D.C. is betting on the former First Lady, Senator and Secretary of State to campaign for the presidency and to handily win the 2016 Democratic presidential nomination, with no serious contenders standing in her way. That leaves the GOP as the only barrier to her returning to the White House, this time as America’s commander-in-chief.

The recent and ongoing Bridgegate political scandal appears to be the kiss of death to the once promising presidential aspirations of New Jersey Republican governor Chris Christie. Pundits have, until recently, proclaimed Governor Christie as the only serious GOP challenger who could defeat Hillary Clinton. His now almost certain political extinction prompted the Time magazine cover story, no doubt.

Americans and the whole world better start getting acclimated to the prospect of a President Hillary Clinton. What would the implications of a second Clinton presidency be for America and the world? Read my book, “Hillary Clinton Nude,” and you will have a better grasp on why  a President Hillary Clinton is NOT the solution to the political malaise now gripping the USA.

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

Hillary Clinton Nude

 

Hillary Clinton Nude

HILLARY CLINTON NUDE

 

global economic crisis , , ,