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Prof. Knight is angry – but does this help to recover and transform? (source: thisislondon.co.uk)
G20 summit under immense pressure
Radical measures must be decided at the G20 summit or it could become the “fateful moment” when the global recession lurches into an outright slump, Liberal Democrat leader, Nick Clegg, said today. (guardian.co.uk, 2009-03-30)
The crisis and the consequences for business and politics are still in the focus of mass media and the blogosphere. When I check the stats of future facts blog I find a lot of phrases containing “financial crisis” still on the top of the most used search terms. Surprisingly most of the visitors checked in here on the post of Oct. 2008 Global financial crisis may end 2009 – which is not really a typical post in a blog concerned with long-term trends. The news seemed significant at that time because
- it had been expressed by an insider, Michel Camdessus, the former chief of the International Monetary Fund (IMF), and
- it was extraordinarily optmistic.
Let us contrast this sunny quote of last year with doomsday news like this of March 25th 2009: “Russia Expects New Financial System Crisis Outburst”. Russia’s Finance Minister Aleksei Kudrin said:
“We were standing on the brink of the financial collapse, but we prevented it, and I must here thank the Central Bank and the State Duma for giving us an opportunity to take decisions quickly,” (my emphasis, www.marketoracle.co.uk)
The coincidence of some news urges me to come back to the issue of the spreading crisis. In these days we read Read the rest of this entry »
The System is falsified – but which one, exactly?
Hello domino crash! The impact of the super-connected world finance system on itself (it is highly self-referential you know) is stronger than the 9/11 attack. Tokio with lowest stocks since 1987. German DAX today starts again with crash below 4.900. The following chart shows indicators of crisis and fear, so says econompicdata.blogspot.com. Anxious people start buying things they need in severe crisis: soup cans and tasers (S&P 500 is reference). Should I laugh or should I cry?
Crisis indicators? People buy more soup cans and ... tasers.
After Armageddon: Transparency will be the key
Global economy could recover as early as end of 2009, a former chief of the International Monetary Fund (IMF) told a business conference in Manila Tuesday.
”… Michel Camdessus, former managing director of the IMF and an honorary governor of Banque de France, told audience attending the 7th Management Association of the Philippines in Makati City that monetary leaders need to meet several conditions to make sure the impact of the US financial crisis permeating around the world halts before 2009 ends.
Collective knowledge. Search behavior according to Google trends, 9/29, last 12 month.
Futurists and analysts are rather bored by some trend phenomena. For example there are trends with rather high predictability and long waves of change – as in demographics. What is exciting and frightening at the same time is the surprise, the unpredicted event with a high impact and a turbulent change pattern. Yesterday 2008-09-29 was historical – the “Black Monday of 2008″.
After a political decision against the rescue plan to save the financial system from collapse the US stockmarket suffered the severest loss in history, more than after the 9/11 disaster. The loss of trust seems to spread from the economical powers to political powers. With high impact to the world economy and maybe geopolitical power equilibrium. Are we witnesses of the agony of a super power – and cui bono? Europe, Russia, China? Read the rest of this entry »
