Breaking phase ahead for the global financial system in 2008
The rapid aggravation of the global systemic crisis as its phase of impact unfolds has brought our researchers to estimate that the contemporary global financial system will reach a breaking phase in the course of 2008.
Crisis follow-up indicators now show that we should no longer only fear the failure of some large financial institution (and of many small ones) in the US first and the in the rest of the world, but that the global financial system itself is structurally hit.
The network of global central banks’ repeated incapacity to control the “credit crunch” when the two historical pillars of the contemporary global financial system (a US economy in recession and a US dollar in decay), reflects the growing surge of centrifugal forces within this very system.
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