Just what an already indebted world needs, yet more debt. Like a drug addict that just can't get by without another fix, the governments of the world crave another injection of debt financed liquidity. Someday real soon this whole house of cards will come tumbling down, with major consequences.
From the articles:
Now listen, you rich people, weep and wail because of the misery that is coming on you. Your wealth has rotted, and moths have eaten your clothes. Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. You have hoarded wealth in the last days. James 5:1-3 NIV
From the articles:
The world's expected economic growth will have to be supported by an extra $100 trillion (£63 trillion) in credit over the next decade, according to the World Economic Forum.
This doubling of existing credit levels could be achieved without increasing the risk of a major crisis, said the report from the WEF ahead of its high-profile annual meeting in Davos. But researchers warned that leaders must be wary of new credit "hotspots", where too much lending takes place, as the world emerges from a financial catastrophe blamed in large part "to the failure of the financial system to detect and constrain" these areas of unsustainable debt.
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World needs $100 trillion more credit, says World Economic Forum
http://www.ft.com/cms/s/0/4c1ddc9a-23d3-11e0-8bb1-00144feab49a.html
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