Grim tidings 4/6/2012
The latest news from the markets is dire and likely to get worse.
A smart government would now scrap plans for a carbon tax using the looming crisis as justification. Whoa, don’t get hopes up, I said a smart government.
THE Australian share market tumbled in early trade today, with about $20 billion wiped off the value of shares before the market stabilised.
At 11.45am, the All Ordinaries Index had fallen 72 points to 4045, showing no signs of recovering after a miserable May.
The broader ASX 200 briefly fell below the 4000-point level, but stabilised and climbed just above that barrier.
The fall effectively wiped about $20 billion off the value of Australian shares in the space of 15 minutes. The Australian market has lost about $120 billion since the start of May.
The World economy is going to catastrophically collapse very soon, it is inevitable. Weak GDP is now outstripped by monstrous debt across Europe and its banking sector is on the verge of collapse. It is the same situation in the United States as well with debt outweighing weak GDP as nations across the Atlantic experience ratings downgrades never seen before and will inevitably see more, China is now slowing down.
Soon the anti-austerity far left extremists Syriza will gain further power in Greece & its unknown how much power far right extremists Golden dawn will yield after the June 17 Greek elections. This will bring upon a Greek default as the Europe’s banks & the Eurozone collapses as shockwaves go global sending the global & Australian economy into the abyss. This will set off the biggest economic collapse since 1929′s Black Tuesday as the world ushers in the most devastating Great Depression of all time.
It took tens years after the 1929′s Black Tuesday for the rise of extremism
& the false flag terrorism that seen the rise of the Nazi’s & World War II. This global economic collapse will bring upon events very much quicker and unimaginable to most as riots,terrorism and war on a scale not seen before start to happen in 2012.