Googling the Financial Apocalypse
September 21st, 2011
Skipping Blithely Through the Collapse of the Global Banking System
There are those who still insist that U.S. financial fortunes are on the rebound, that there will be nary a second recessionary dip added to the little 2008 blip caused by some bad players gaming around Morgan Stanley and Goldman Sachs. Through their rose-tinted lenses, they see a world in which we’ll all be back in the pink in no time, gosh darn it.
It is for those financial Pollyannas we now play the game called Google the Financial Apocalypse, as we check in with Rukeyser, Kieser, Celente, Krugman and many, many others. Their news is each so unappealing we won’t stay with them long. In fact, lets just skip through the headlines, within the past month. Shall we?
“Global Systemic Risk Near Record Highs Prompts ESRB Warning”
“Global System in crisis—Fourth Quarter 2011: Implosive fusion of global financial assets”
“The European Bank Run/Credit Write downs”
“IMF: World Economy Enters ‘Dangerous New Phase”
“Most Headlines Now Show French Bank Run has Started…”
“Asia Stocks, Euro Fall after Italy Downgrade”
“The Corporate Bank Run Has Started: Siemens Pulls 500 Million Euros From a French Bank”
“Bank of New York: A Train Wreck Waiting to Happen?”
“German Banks Need 127 Billion Euros of More Capital”
“IMF Warns Greece To Cut Deep, Privatize As Default Threatens”
“FINRA Drowning in Complaints About Market Manipulation”
“Liquidity Fix Not Enough for Europe: Investors”
“B of A May Keep Bankruptcy Open for Countrywide”
“French Bank Downgrade Increases Pressure for Austerity Across Europe”
“Societe Generale Probed Over Role in Ponzi Scheme”
“Leaked Documents Reveal Major Speculators Behind 2008 Oil Price Shock”
“New York Times Runs PR for Bank of America’s Headcount-Cutting Profiteers”
“Austrian Government Fails in Vote to Increase Euro Bailout Fund”
“China Can’t Save Anything…Neither can the Fed”
“20 Signs of Imminent Financial Collapse In Europe”
“Goldman Stock Price Drops Back to Double Digits For First Time Since 2009”
“Let’s Have a Look at the REAL Situation in the Financial System”
“Most of Western Europe on Brink of Bank Collapse”
So there you have it. You can google (verb. transitive) any of the titles to get to the articles, although I don’t know why anyone would want to. The list above is by no means comprehensive, by the way. I stopped after reaching so far because I couldn’t take it any more.
The signs are very…very bad indeed. What we are experiencing has always been a recession in name only. One can probably find much better, more accurate, and more honest names to call it.
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