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Pending Market Disaster: The Global Financial System Is Sliding Uncontrollably Towards An Abyss And There’s Only 2% Chance of Dodging A Market Crash
World GDP FOUR years after the worst of the financial crisis and the world appears to be faltering again. According to The Economist’s calculations, world GDP grew by just 2.1% during the first quarter of 2013 compared with a year earlier. Just 12 months ago, output was growing at a reasonable clip of 3.1%. http://www.economist.com/blogs/graphicdetail/2013/06/focus-7 Why China’s Economy May Be Heading for a Crash China’s central bank sent global markets reeling when it attempted tighten credit and rein in the country’s shadow banking system. But the consequences of China’s credit binge may just be getting started, and experts say there could be more pain to come for the world’s second-largest economy.
Jim Rogers Warns “We’re All Going To Suffer From This Crazy, Crazy Money Printing”
Submitted by Tyler Durden Zero Hedge Submitted by Tekoa Da Silva via Bull Market Thinking blog, I was able to reconnect with Jim Rogers this morning out of Spain, legendary co-founder of the Quantum Fund with George Soros, author ofHot Commodities, and chairman of the private Beeland Holdings. It was an especially powerful interview, as Jim spoke towards the relentless downward pressure on gold, the upward explosion in interest rates, central bank money printing, and how to protect yourself ahead of the disastrous times he sees coming. When asked if we’re seeing forced liquidation leading the smash down in gold this morning, Jim said, “We certainly are. There are a lot of leveraged players who are now being forced to sell. Usually when you have this kind of forced liquidation, you’re getting closer to a bottom, maybe not the final bottom, but certainly close to a bottom. I even bought a little bit [today].” With regard to the intense bearish news stories being published on gold, Jim suggested investors shouldn’t ”Pay [much] attention to other people.
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