SERIO RIESGO DE NUEVA CRISIS ECONOMICA MUNDIAL

SERIO RIESGO DE NUEVA CRISIS ECONOMICA MUNDIAL

Introduccion  por Hugo Adan.  Agosto 9, 2014

http://nd-hugoadan.blogspot.com/

Lo dijo el Hindú R Rajan, former chief economist of the IMF, máxima autoridad del Banco Central de Reserva de la India. La economía mundial está a punto de un nuevo crash financiero. Hemos reproducido el mismo tipo de economia parasitaria y auto-destructiva -con los mismos actores- que crearon la crisis del 2008. Pero esta vez sus efectos caoticos se agravaron por la contradiccion entre lo financiero y lo militar (sus fines y medios se excluyen). Esto solo conduce al final de la historia humana (guerra atomica), o a una recesion mundial como la de 1929, que es lo que Rajan prevee. El pueblo tambien lo ve asi. Los bail-outs continúan  (salvatajes a banqueros en quiebra que los trabajadores pagan a duras penas, trabajando doble y abandonando los hijos). Por esto rechazan el pago de impuestos y muchos están abandonando la nacionalidad americana para exigir el reembolso de sus taxes al nuevo lugar de destino. El dolar continua devaluandose, cada día se compra menos con el. La miseria y el crimen avanzan. La banca privada del FED que inunda el mundo con dólares sin respaldo alguno (los QEs o quantitative easing) no se usa para aliviar la deuda de los estudiantes ni para solucionar problemas de salud y techo para el pueblo sino para derroches en guerras y armamentismo. El mundo avanza hacia nueva moneda para depósitos bancarios y el comercio internacional. Los ahorristas de capas medias compran  oro. La caída del dólar es eminente. La guerra financiera la estamos perdiendo los de abajo, el 1% de los ricos sigue enriqueciéndose con la compra-venta de deuda, los sub-primes y otros tóxicos financieros. Eso es fuente de inestabilidad que hoy el mundo rechaza. Los días del imperio están contados, pero la música del Titanic y la danza continua mientras se alista los pocos botes salvavida para los grandes millonarios. La prensa oficial oculta la verdad de la crisis por venir, pero el dia que el internet sea cortado, será el dia que muchos cortaran su relación con el imperio.

RBI GOVERNOR RAGHURAM RAJAN WARNS OF GLOBAL MARKET 'CRASH'

August 7, 2014 | Reuters

Reserve Bank of India ( RBI ) Governor Raghuram Rajan says global markets are at risk of a "crash" should investors start bailing out of risky assets created by the loose monetary policies of developed economies.

Full article in http://www.zerohedge.com

RBI GOVERNOR FEARS MARKET CRASH WITH "WORLD LESS CAPABLE OF BEARING THE COST"

Submitted by Tyler Durden on 08/07/2014

Reserve Bank of India Governor Raghuram Rajan may be set to have his central banker card revoked... for telling too much truth (here in 2012, here in 2013, and most recently here). Having previously noted that "international monetary cooperation has broken down," the WSJ reports that Rajan warned Wednesday that the global economy bears an increasing resemblance to its condition in the 1930s, with advanced economies trying to pull out of the Great Recession at each other’s expense. Simply put, he concludes, "we are taking a greater chance of having another crash at a time when the world is less capable of bearing the cost."

As The Wall Street Journal reports, Rajan explains the difference between now and 1930 is:

competitive monetary policy easing has now taken the place of competitive currency devaluations as the favored tool for playing a zero-sum game that is bound to end in disaster.

Now, as then, “demand shifting” has taken the place of “demand creation,” the Indian policymaker said.

However...

As was the case in the 1930s, the lack of coordination between policymakers is producing spillovers that may be difficult to control, and the world’s financial system may soon face fresh turbulence at a time when central banks have yet to repair the damage that the 2008 financial crisis caused to developed economies.

“We are taking a greater chance of having another crash at a time when the world is less capable of bearing the cost,” said Mr. Rajan in an interview with the Central Banking Journal.

A sudden shift in asset prices could happen in a variety of ways, Mr. Rajan said. The most obvious route would be as a result of investors chasing higher yields at a time when they believe central bank policies will protect them against a fall in prices.

“They put the trades on even though they know what will happen as everyone attempt to exit positions at the same time – there will be major market volatility,” said Mr. Rajan.

And finally on the incompetence of economists (cough central bankers cough)

Mr. Rajan said economists still disregard the central role of financial systems in the economy and believe they can predict upcoming disruptions.

“They still do not pay enough attention–en passant–to the financial sector,” Mr. Rajan said. “Financial sector crises are not as predictable. The risks build up until, wham, it hits you.”

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All very Zero Hedge-like, but from the mouth of a former IMF Director and current world central banker...

As Rajan previosuly concluded: 

"when it comes to what is ailing the global economy, extreme monetary easing has been more cause than cure. The sooner we recognize that, the stronger and more sustainable the global economic recovery will be”

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 NOTE

[1]  Crisis: The build-up of financial imbalances has been fuelled by the money printing machines at the Federal Reserve, the Bank of England and the Bank of Japan

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