Europe Is Slow to Face Up to the Financial Crisis

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Ruth Ashworth Fleck of OH 7:20AM December 14, 2011

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lose weight with food of 12:40PM July 02, 2010

The G30 led by Paul Volcker (Former Fed Chairman and Inflation Buster before Greenspan) is on the job proposing new regulations to realign the financial sector with responsible lending practices. Their meetings are regularly broadcast on CSpan as they progress to tackle our broken system and reregulate the financial evildoers of the world. I have great expectations of this group since Volcker brings integrity and vast experience onto the scene knowing first hand how to handle stagflation and irresponsible fiscal policies. Perhaps the future is brightening somewhat....

Ray Fisher of NM 11:51AM October 08, 2008

The government’s rescue of the banks may stabilise the global financial crisis temporarily, but where the far bigger problem of economic stagnation and decline lies firmly upon the horizon now. The reason, with the US’s total debt when all is taken into account at the end of 2007 was $51.3 trillion (increasing to $53 trillion by the end of this year), sheer interest payments estimated at over $2 trillion a year, estimated toxic debts of financial institutions of over $4.1 trillion and total global debt exceeding $100 trillion, no amount of capital injection will save the global economic system from eventual collapse as it is being pursued today. I give it no more than 18 months to fail.
The only situation that could bring global stability to the economic system is the influence of China and its direct intervention. Unfortunately pride by Western politicians will not allow this to happen, but where eventually they may have no other option but to take this decision to save the world economy from decades of economic stagnation. That is what we risk now with uncoordinated political indecisiveness in the West. These are plain truths and no more.
Dr David Hill
World Innovation Foundation Charity (WIFC)
Bern, Switzerland

dr david hill 5:50PM October 07, 2008