There has been a recent decline in the global financial system as many countries are facing a severe financial hardship, high unemployment, and a decline in currency value. The global market relies on each country to import and export goods. This is needed to sustain the global economy. When one or more countries are not able to contribute to the global economy, then the impact trickles down to the rest. The global financial system is a balance that must be adjusted according to supply and demand. When a country begins to suffer a financial strain, then the chance of inflation increases. This forces other countries to adjust their monetary value to stabilize the market. These types of actions create the possibility of a crash in the financial system, as countries loose value in their currency.
The talk on the streets is that there is a coming financial crisis, and one that will drastically alter the way we all go about our daily lives. It matters very little if you believe in this coming wreckage or not, as the most important part of this catastrophe is your survival preparedness. To begin with, the chances of something happening (and very soon) in the financial sector are growing considerably.
It’s certainly good for politicians to listen to their constituents–it doesn’t happen enough. But, when their constituents are backed by rich influence, and when their constituents are so woefully close … [Read full article]
In his alarm-ringing NY Times op-ed on Climate Change, professor Homer-Dixon* draws a comparison with the 2008 financial “meltdown” which finally led to new financial regulations, even though warnings of a housing bubble (and an emerging recession) were being made prior to the crisis. He advocates societies designing a contingency plan (‘Plan Z’ ) to deal with the immediate after-effects of one or more climate change disasters.
The financial markets unraveled so rapidly last week, it’s still hard to process all the developments and likely consequences. But there’s no doubt that events on Wall Street carry serious … [Read full article]