In 2008 George Bush stated that US banks' bailouts are required or it'll be the end of the world if the global money system crash lands...

In 2011 Obama says the US debt ceiling must be raise above 14 trillion dollars before July 2011 or we face a global recession...

Quite interesting that after 3 years we are on the same page i.e.
- Moral hazard of the big global banks is still intact.
- Oil is again looking to return to $150
- Global food price index is above 2008 highs!?
- National debts are incredibly fattened.
- US subprime is still underwater despite the mega bailouts of 2008.
- Global stocks some have fully recovered and some gone above 2008 highs some just below, but none above 2007 highs.
- USD index is crashing again almost at the 2008 lows as the $ is massacred.

Others can add more that they can remember.

Deja vu... Anyway why am I worried and the global economy is fully recovered even with job losses everywhere. I need to get back to the party. Some lethal hopium cocktail for me please so that I can catch up with highness asap...

http://www.msnbc.msn.com...s/politics-white_house/

And why can't we as Africa wake up & realise that we have our own economic story to BUILD, ENJOY & DESTROY @ our own pace? BRICS came up from the inside 1st...let's keep about building Thika road e.t.c & not being TOO hooked to what our neighbors to the West r doing. Infact let's keep looking East for more inspiration. Thanks YCSN...

As finance ministers convened for the biannual IMF meeting the Brazilian minister had some interesting words for US - "Ironically, some of the countries that are responsible for the deepest crisis since the great depression and have yet to solve their own problems, are eager to prescribe codes of conduct to the rest of the world."
Those are just some 'sweet' words I'd have also liked to say on such a stage.
I also like the Russian take on the Fed bank bonds program (QE2.0) of buying its own debt??! I've termed this a ponzi...

http://www.reuters.com/a...a-idUSTRE73F1TN20110416


@cde - Unless BRICs, S.America and Africa find a way to print their own money & combine their economies, the global economy model under the west still calls the shots.

1. Eurozone defaults are a reality with or without PIIGS... Global recovery
2. S&P downgrades US debt outlook to negative and many other 1st world nations... Global recovery
3. Global food inflation - Global recovery
4. Gold, Silver, metals and soft commodities (food & oil) posting multi year highs - Global recovery

And below is a pictorial of how the PIIGS have faired since the March 2009 global stimulus (bailouts) aka QE1.0 through QE2.0 and soon to come QE3.0

As illustrated by the pictorial, Greece, Ireland and Portugal CDS rates are far worse than the April 2010 eurozone Greece default scare...

Interesting times these are... Why do we go to school to learn financial skills which are not applicable in real world... It is time to unlearn the garbage they teach in these schools. And if you challenge your professor well and put him in a corner, you won't graduate since you are not system aka matrix compatible



Image courtesy of Bianco Research