DON'T PANIC ON THE ECONOMY

1. In the USA, "The long-moribund housing market has bustled to life, with prices and new-home construction rising in recent weeks.

"Hiring, so weak earlier this year, picked up last month.

"And on Thursday, the government reported an acceleration of a downward trend in the number of people seeking unemployment insurance, as well as a sharp improvement in U.S. exports."

Economy might be gaining traction, new data suggest‎ Washington Post, August 2012.

2. "Ireland and Portugal are making some progress (it was encouraging that Ireland was able to raise some money from the markets in July)" 

The Merkel memorandum The Economist, August 2012.

What if Greece, and others, were to leave the Eurozone?

"The worry about bank runs ... can be overcome. The most obvious way would be to keep the exit decision completely secret... if the news did get out, then a state leaving the euro could immediately impose an extended bank holiday and implement capital controls (normally illegal under European law, but there is a get-out clause for up to six months in exceptional circumstances). That should deal with the problem."

The Merkel memorandum The Economist, August 2012.

"Ireland has achieved a worthwhile reduction in its unit labour costs...Ireland has been running a small current-account surplus." 

The Merkel memorandum The Economist, August 2012.



3. Economists at Barclays are forecasting that the USA is unlikely to suffer a double dip recession.

"Having the global reserve currency and the world's largest and most liquid government bond market are real advantages..."

World holds its breath as America's debt battle looms‎ Telegraph.co.uk

The world is becoming richer.

The world economy reached $70 trillion by the end of 2011.

In 2001, the world economy was only $32 trillion.

THE ECONOMY IN 2012

4. Remember the 1997 Asian crisis?

We were living in that part of the world at that time.

In the country we were living in, some banks closed down. The currency lost 76% of its value.

But, the supermarkets remained open and within a few years everything was back to normal.

There was no need to stockpile food or ammunition!

The riots were all carefully organised by the CIA, and only certain Chinese businesses were hit.

Malaysia introduced capital controls and saved its economy.

Singapore organised huge market interventions.

Korea had a 'virtual shutdown of international banking'.

In all three countries, GDP was higher three years later than it had been before the crash.


Photo of Soros taken by Jeff Ooi. Posted to LensaMalaysia.com

5. Are The Government And The Big Banks Quietly Preparing For An Imminent Financial Collapse?

(Michael Snyder -The Economic Collapse -August 13, 2012)

There are those who believe that the Asian Economic Crisis of 1997 was planned by certain people.

In 1997, banks got into difficulty in Asia.

Malaysian Prime Minister Mahathir Mohamad thought he knew who was behind it all: George Soros, Jewish currency trader. (MAHATHIR VS. SOROS)

aangirfan: Soros, Manning, Blank and the Bank of Scotland