Rumor Mill News Reading Room Archive

US CONSUMER'S INSOLVENCY DEAD AHEAD

Posted By: FinancialEdEconomica
Date: Wednesday, 29-Nov-2006 19:45:29

www.moneyfiles.org is now affiliated with www.indebtwetrust.com: the movie "In Debt We Trust" will be released next Spring, in NYC to start with. I will make sure to update you as news come in.... meanwhile two important reports... Borrowing to Make Ends Meet Series - A House of Cards http://www.demos.org/pubs/house_cards.pdf (11/29) US consumer's insolvency, a catalyst of the impact phase of the global systemic crisis ... For the LEAP/E2020 team, it is from now on time to remove the ‘conditional' from this scenario. It is currently happening throughout all the United States and constitutes a catalyst of the impact phase of the global systemic crisis. The US consumer, i.e. the US middle class, basically becomes insolvent (11), victim of overwhelming debt, a negative rate of saving, the bursting of the real estate bubble, the rise of interest rates and the collapse of US growth. All these elements are dependent, and mutually reinforcing, to plunge the United States, starting from the end 2006, into an economic, social and political crisis without precedent (12). Very concretely, this November issue of GEAB sounds two “LEAP/E2020 Alerts”: - The first relating to banking and finance sectors which, by the way of “hedge funds” and “bad quality credit”, will be at the centre of the impact phase of the global systemic crisis; - And the other, which again amplifies the Alert published in GEAB N°4, relating to European real estate, with as an illustration, an analysis of the market trends of the British and French real estate.... MORE

http://www.leap2020.eu/December-2006-Dollar-Real-Estate-Stock-Markets-US-consumer-s-insolvency,-a-catalyst-of-the-impact-phase-of-the-global_a233.html