The rebound of the stock markets, maybe unfreeze of credit markets, etc. might give the perception that the crisis is over. I post yesterday an interview where the recent Nobel prize, Prof. Krugman, states very clearly that "this is just the begining".
I posted the predctions from the IMF for 2008 and 2009, optimistic as usual. Banks and think tanks are much more pessimistic. As many economists say, and Nouriel Roubini described clearly on July 6th. 2008, "the coming end game of Bretton Woods 2", we most agree that we are changing the whole financial system. Many among them agree that we are also changing the whole economic model. And US in particular, has to make a third change, its own economic model based on cheap oil and its domestic inbalances in federal budgets, consumption vs. savings, foreign trade, etc. Those changes are are giant efforts that take lot of effort, lot of funds and lot of time. I mean, this is just the begining. The year of the rat. The tide rises, new waves higher and higher will come soon. Save, try to produce food at home as much as posible, etc. same advise than usual. Peace and best wishes. Xi --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/world-thread?hl=en -~----------~----~----~----~------~----~------~--~---
