2013/08/29 LEAP/E2020 Press Review on the Global Systemic Crisis. Libertad, Igualdad, Pluralidad. Press-News-Notícies.

GEAB excerpt - Global systemic crisis : The Impacts of the second shock

Historians will certainly consider the 2008 crisis as a warning shot ahead of that of 2013. All the world’s regions won’t be affected in the same way but all will suffer. According to LEAP/E2020 the stages of this second crisis can be summarised as follows: – end 2013, financial impact: collapse of financial markets especially in the US and Japan. Banks can no longer be saved by States and bail-ins are put in place; – end 2013-2014, spreading to the real economy: the financial impasse causes/reveals a major world recession and the reduction of international trade; – 2014, social impact: the economic deterioration causes unemployment to explode, in the United States the dollar’s decline lowers the standard of living, riots mushroom everywhere; – 2014, political crisis: the governments of the most affected countries are under fire for their handling of the crisis, forced resignations and early elections are expected, if not coups; – 2014-2015, international management of the crisis: together Euroland and the BRICS impose a new international monetary system and lay down the bases of a new global governance; – 2015: the least affected regions have exited the crisis definitively; – 2018 : it will take the United States, the United Kingdom and Japan five years to purge themselves of the crisis with, ultimately, a greatly reduced standard of living and a considerable loss of global influence (resulting from their refusal to participate in the re-casting of global governance on new bases).

LEAP/E2020 - Excerpt GEAB N°76

U.S. to hit debt limit in mid-October, Lew says

The U.S. government will hit the debt ceiling and be unable to borrow money to pay its bills in the middle of October unless Congress votes to increase the federal debt ceiling, Treasury Secretary Jacob Lew said Monday...

Market Watch

Cameron backs down on urgent Syria strikes

David Cameron backed down and agreed to delay a military attack on Syria following a growing revolt over the UK's rushed response to the crisis on Wednesday night...

The Telegraph

Cette nuit en Asie : la Chine soulage ses banques

Lors d’une réunion présidée par le Premier ministre Li Keqiang, les autorités chinoises ont annoncé, hier soir, qu’elles allaient étendre un programme visant à autoriser la vente de produits de dette titrisée. Ce programme consistera donc à convertir des crédits bancaires en produits obligataires, qui pourront ensuite s’acheter et se vendre sur le marché. Le but : soulager les banques d’une partie de leurs crédits et améliorer ainsi la liquidité...

Les Echos

Carrefour French Earnings Jump 75% on Pricing Turnaround

Carrefour SA (CA), France’s largest retailer, reported a 4.9 percent increase in first-half profit as a revival in its domestic market more than offset the economic difficulties of southern Europe...

Bloomberg

This muni-bond selloff looks like Lehman all over again: Janney

Invoking comparisons to the financial event that sent markets spiraling and helped set off the financial crisis isn’t usually undertaken lightly. So we take notice when analysts — and analysts known for being even-keeled, at that — call the muni market a “Lehman-like” event...

Market Watch

Turkey’s gold reserves climb: IMF

Turkey, Russia and Azerbaijan increased their gold reserves in July, data from the International Monetary Fund showed on Tuesday, as bullion prices recovered from near three-year lows...

Hürriyet

Sales of New U.S. Homes Fell More Than Forecast in July

Purchases of new U.S. homes plunged 13.4 percent in July, the most in more than three years, raising concern higher mortgage rates will slow the real-estate rebound...

Bloomberg

China's Lofty Goals for Shale Gas Development Just Pipe Dreams, Experts Say

China wants to reap the benefits of a shale gas revolution similar to the one in the United States, but there are many obstacles to this happening, experts say...

Caixin

Moody’s considers downgrading top US banks

Moody's has warned that it could cut the credit ratings of the six biggest US banks, saying the federal government may be less likely to bail them out if they got into trouble in the future...

CNBC

Merkel rival demands halt of EU-US talks

Peer Steinbrueck, a candidate to be Germany's next Chancellor, has demanded to halt EU-US trade negotiations amid revelations that Washington is spying on its European allies...

EUObserver

Les banques fuient les matières premières

JP Morgan, la puissante banque américaine, cède ses activités dans le négoce des matières premières, alors qu'elle était devenue la première banque du secteur...

RFI

Australia unveils levy on bank deposits

Australia has unveiled a levy on some bank deposits to raise money towards a fund aimed at safeguarding against a banking collapse...

BBC

U.S. Workers Are Grounded by Deep Cuts

Five months after gridlock in Washington triggered the deep spending cuts known as sequestration, much of the United States government is grounded...

New York Times

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This special Press Review reviews articles from the French and Engligh-speaking international online media relating to the unfolding global crisis.

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