Wednesday , 20 March 2019
Breaking News
Home » Business » Global Economy on Brink of Total Collapse

Global Economy on Brink of Total Collapse

World economic crisis 2012Till last week it was only the European economy that was in crisis, with new statistics coming in, it is now confirmed that the U.S. and the Asian Economy are also falling fast, as a matter of fact too fast for comfort.

It has been the same since the 2008 recession, through it might seem like the economy recovered after that most of that was confidence fueled economic growth. There wasn’t any real growth in any part of the world.

The U.S. economy, which is the world’s largest has reported a losing job market for a third straight month. Economies in China, India and Brazil which were at top speed even during recession have slowed down to an alarming rate.

The gravest fear is Europe. The most urgent threat is that in mid-June, Greek voters will reject the terms of a $170 billion bailout — which called for painful budget cuts — and abandon the euro. The move could ignite economic and financial chaos as Greek debts shift from denominations in euros to Greek drachmas of uncertain value.

Unemployment in the 17 countries that use the euro is already at 11 percent, the European Union’s Eurostat office reported Friday. It’s the highest rate since the euro was introduced in 1999.

Related stories:

Israel Settlement threat to Peace talk, says American President Barrack Obama
DFW Airport Shut Down due to bad weather
At least 10 dead in Raleigh N.C. storms
US-UK spy link with Libya Exposed
Listeria Outbreak warning issued in Colorado, Texas, Indiana, Nebraska and Oklahoma
American Millionaires should pay 30 percent in Tax : Obama
New Casino Bankruptcy: Reval, Atlantic City!
Coca Cola Cuts 750 Jobs in U.S.