Umair Haque / Bubblegeneration

Tuesday, April 05, 2005

Macropocalpyse

There are many reasons why appointing Wolfowitz to the World Bank is a very bad idea. Global Halliburton capers at the expense of the world's poor is the obvious one.

A much more serious one I haven't talked about is retaliation by emerging markets who are financing our massive consumption.

This line of thinking is being advanced by a very well-known former IMF economist, and you should take it very, very, very seriously. If this kind of retaliation occurred on a serious level (ie, foreign central banks dumping dollars/not buying T-bills)...the ramifications would be enormous - the dollar would plummet, rates would spike, liquidity and credit would dry up, investment would stop, job creation would crash, and wages/productivity would fall through the floor. Think Great Depression 2.0 and you're not too far off the mark.

-- umair // 1:42 PM // 1 comments

Comments:

hi ,

I just noticed that title of the Website contains "Bubblegen - Evil Corporations Only". What does this new title mean ??

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Rajan // 7:56 PM