'There will be blood'

What impact will a prolonged financial hardship cause say, 2-3 yrs down the road (it won't be over for another two yrs minimum)

Some would say that there might even be an "economic civil war" before the "Great Recession" ends?

Globe and Mail - Feb 23/09

Harvard author and financial crisis guru Niall Ferguson has landed with a thud in Ottawa, spreading messages that could make even the most confident policy makers squirm.

The global crisis is far from over, has only just begun, and Canada is no exception, Mr. Ferguson said in an interview before delivering a presentation to public-policy think tank, Canada 2020.

Policy makers and forecasters who see a recovery next year are probably lying to boost public confidence, he said. And the crisis will eventually provoke political conflict, albeit not on the scale of a world war, but violent all the same.

“There will be blood.”

The Buy America penchant pushed by the U.S. Congress in passing the recent stimulus bill was only the tip of the iceberg.

Abu Dhabi buying Nova Chemicals at bargain-basement prices on Monday is a sign of things to come, with financial power quickly being transferred over to the world's creditors – namely sovereign wealth funds – and away from the world's debtors.

And much of today's mess is the fault of central bankers who targeted consumer-price inflation but purposefully turned a blind eye to asset inflation.
The future does look scary.
There will always be Chicken Littles

Similar Threads

Do you donate blood? If not, why?
by CBC News | Nov 4th, 2008
Blood on Their Hands
by JBeee | Jul 10th, 2007
Oil, Blood and the Future
by mrmom2 | Sep 17th, 2005
Blood Group
by moghrabi | Jun 10th, 2005
Blood and Tears
by peacetakescourage | May 3rd, 2005
no new posts