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Economic Expert Says Global Crash Imminent
Echoes former world bank leader with prediction of global
recession
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A leading economic expert has warned that a global crash and recession
is imminent on the back of record highs in real estate, stocks
and energy, combined with a devaluation of the dollar and continued
"speculative bubble thinking".
Robert Shiller, the Stanley B. Resor Professor of
Economics at Yale University told
an audience at the annual Dubai International Financial
Centre (DIFC) Week that a sharp downward correction is due in
the global markets.
Shiller stated:
"Perhaps we have gotten a little too confident
in the global economic growth," said Shiller. "The
problem is high oil, stock and real estate prices. I believe
that a substantial part is speculative bubble thinking. We have
gotten too confident of the prices in these markets,".
"The unwinding of these markets is the most
serious risk facing these markets today," Shiller added.
(Article continues below)
With the effects of the credit crunch hitting more
and more lower level lenders, it is clear to see that the fallout
is spreading and propagating a general decline. We are seeing
the unfolding of an overall meltdown that represents a gutting
of the United States by neo-mercantilist institutions bent on
the formation of a new global monopoly.
Shiller also pointed to the futures market, such
as that of the CME in Chicago, which now predicts a major, ongoing
decline over the coming four years.
We are witnessing the unfolding of a crash exactly
as predicted by Former World Bank Vice President,
Chief Economist and Nobel Prize winner Joseph Stiglitz last year.
Stiglitz agreed that the process of hijacking and looting key
infrastructure on the part of the IMF and World Bank, as an offshoot
of predatory globalization, has now moved from the third world
to Europe, the United States and Canada.
Stiglitz warned that the signs were there with plummeting real
estate prices in the U.S., stating that a global economic depression
could only be avoided if a correction was made.
But no correction will be made because the World Bank/IMF/Globalist
doctrine betrays a focused agenda to deliberately foment economic
turmoil, riots, and then enforced bondage to eternal debt. We
have witnessed this time and time again, their
own documents even confirm this as the chosen method
of social control.
The shareholders of Federal Reserve, part of the same group of
elite families that owns the bank of England, created the IMF
and World bank to siphon government funds. Then they effectively
steal the real assets of the third world countries that take their
loans in some cases at 42% interest. These global loan sharks
secure the water, power and roads which are then handed over to
private, piratical, letter of mark companies.
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INFOWARS:
BECAUSE THERE'S A WAR ON FOR YOUR MIND
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