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Author Topic: 20 Reasons Global Debt Time Bomb Explodes Soon........  (Read 75370 times)

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Online Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #70 on: July 13, 2010, 08:51:07 AM »
July 12, 2010 -- China's leading credit rating agency has stripped America, Britain, Germany and France of their AAA ratings

Dagong Global Credit Rating Co used its first foray into sovereign debt to paint a revolutionary picture of creditworthiness around the world, giving much greater weight to "wealth creating capacity" and foreign reserves than Fitch, Standard & Poor's, or Moody's.

Chinese president Hu Jintao said in April that the world needs "an objective, fair, and reasonable standard" for rating sovereign debt. Dagong appears to have stepped into the role, saying its objective was to assess countries using methods that would "not be affected by ideology".

"The reason for the global financial crisis and debt crisis in Europe is that the current international credit rating system does not correctly reveal the debtor's repayment ability," said Guan Jianzhong, Dagong's chairman.

The agency, known in China for rating companies, said its goal is to "correct the defects" of the existing system and offer a counter-weight to Western agencies...

Chinese rating agency strips Western nations of AAA status  - Telegraph ...



      YouTube
            - China's own sovereign credit rating report unveiled - CCTV 100712
   
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Online Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #71 on: July 13, 2010, 12:53:01 PM »
The city of Long Beach California plans to tax Medical Marijuana to help cover the city's budget deficit...


      YouTube
            - Long Beach's Farrell Discusses Proposed Marijuana Tax: Video
   

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Online Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #72 on: September 08, 2010, 09:42:29 AM »
September 8, 2010 -- When Harrisburg Pennsylvania last week announced it would miss a payment on it's general obligation bonds, headlines once again centered on potential trouble with a wider swathe of the $2.8 trillion municipal bond market.... Pennsylvania's capital city on Wednesday said it would skip a $3.29 million payment on some city bonds...


Harrisburg Default Adds to Muni Woes - SmartMoney.com ...
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Online Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #73 on: September 13, 2010, 06:01:55 PM »
Monday Sept. 13, 2010 -- Most Canadians just living paycheque to paycheque ...

The Canadian Payroll Association asked 2,766 people about their financial situation and found 59 per cent of Canadian employees would have trouble making ends meet if their paycheque was delayed by a week.... The Canadian Payroll Association report highlights concerns expressed by financial experts and the Bank of Canada that Canadians are living with too much debt and could be stretched when the real interest rates rise...

Most Canadians living paycheque to paycheque - CTV News

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Offline Wil

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #74 on: September 14, 2010, 06:29:04 AM »
I can see property values maybe dropping like a rock in places like Vancouver, B.C.  How some of these ancient wooden shacks can sell for  in excess a million bucks there is beyond me!  Might be another 'culi-phoooon-yeeah" real estate market crash in the works...Wil

Online Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #75 on: September 14, 2010, 08:30:42 AM »
I can see property values maybe dropping like a rock in places like Vancouver, B.C.  How some of these ancient wooden shacks can sell for  in excess a million bucks there is beyond me!  Might be another 'culi-phoooon-yeeah" real estate market crash in the works...Wil

There's alot of new money coming into Vancouver from mainland China right now ... the Chinese Govt. recently invoked some new rules in mainland China to curb the development of an excessive real estate bubble; they dramatically increased the equity ratio required for investment properties, as a result, alot of money that would have gone into the Chinese real estate investment market is making it's way into Vancouver, thus putting an artificial floor under prices.

The big turning point in real estate will come one day when interest rates start heading back to historical norms - then KA-BOOM... however, Govt's around the world are trying to keep interest rates artificially low in order to keep their hands in the kitty for as long as possible, and they may succeed at keeping rates low for a while yet.
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Online Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #76 on: September 14, 2010, 01:10:57 PM »

Govt's around the world are trying to keep interest rates artificially low


Sept 13/10 -- The European Central Bank bought €237m of government bonds last week – the biggest amount since the middle of August – in a sign of continuing problems in the eurozone... Traders said the ECB bought Greek, Portuguese and Irish bonds last week as the extra premium these so-called peripheral eurozone markets have to pay in interest rates...


FT.com - ECB bond buying signals new strains ...
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Online Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #77 on: September 15, 2010, 08:56:59 AM »
Sept 14/10 -- IRA says it will start targeting UK bankers ...

Banks and bankers are now potential targets for the Real IRA, leaders of the dissident republican terror group have warned... the bankers grease the politicians’ palms, the politicians bail out the bankers with public funds, the bankers pay themselves fat bonuses and loan the money back to the public with interest. It’s essentially a crime spree that benefits a social elite at the expense of many millions of victims.

... IRA's recent activity has been a wave of so-called "punishment" shootings and beatings of those they deem "antisocial elements" in nationalist working class areas. In Derry alone the Real IRA and other aligned groups have shot around two dozen men over the last 18 months... The Real IRA's leadership was unapologetic over what its critics have described as "rough justice"...

IRA says it will target UK bankers ...
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Online Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #78 on: September 15, 2010, 07:51:42 PM »
Professor Laurence J Kotlikoff say's the United States is already technically bankrupt ... when off-balance sheet accounting and unfunded liabilities are accounted for, the real debt of the US Govt. is just over $200 trillion... here's his audio interview ...

http://www.financialsensenewshour.com/broadcast/fsn2010-0911-2.mp3







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Offline Wil

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #79 on: September 16, 2010, 06:11:43 AM »
Quote
the United States is already technically bankrupt ... when off-balance sheet accounting and unfunded liabilities are accounted for, the real debt of the US Govt. is just over $200 trillion...


Bill:  So....if "Numero Uno's" bankrupt or technically bankrupt how will this affect us?  Wouldn't everyone then follow suit and if everyone's in the crapper at the same time  does it really matter?  How will it affect you, I and everyone else?

Just wondering.  Should we be buying gold or something? What's a good, defensive position to be in? ...Wil

 


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