Godlike Productions - Conspiracy Forum
Users Online Now: 2,192 (Who's On?)Visitors Today: 1,559,085
Pageviews Today: 2,061,550Threads Today: 528Posts Today: 10,111
05:47 PM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

Damn, Ben Fulford did used to write for Forbes

 
Doubter O'Bibble
User ID: 536223
United States
11/02/2008 04:41 PM
Report Abusive Post
Report Copyright Violation
Damn, Ben Fulford did used to write for Forbes
Damn, Ben Fulford did used to write for Forbes...from Feb of '02...
and I just thought he was a poser !


[link to www.forbes.com]

The Panic Spreads
Benjamin Fulford, 02.18.02


You can no longer safely shrug off Japan's economic crisis. It just might drag the world into a depression.

The world--including even the previously sanguine Japanese--is now catching on to the fact that Japan's 12-year slump has deteriorated into a full-blown crisis, threatening a wild global ride. Falloffs in various indicators in the world's second-largest economy resemble the plunge of such countries as the U.S. into the Great Depression of the 1930s.

What about the theory that Japan is so rich a nation that it can buy its way out of a financial collapse? After all, it is said, the huge debt overhang from the country's rotten banking system and the actuarial deceit of its postal- and insurer-based retirement systems is just a case of Japan owing itself. This is not Russia or Argentina or Thailand.

No, it's not Russia or Argentina. In fact, it is potentially something far worse.

"Japan is 42 times bigger than Thailand," says Kenneth Courtis (who is interviewed on page 58), vice chairman for Goldman Sachs in Asia, referringto the country dubbed the epicenter of the 1997 Asian crisis. That bout cut world output by $300 billion in a year. Japan represents the "largest economic crisis since the 1930s," says Courtis.

"The world is heading for a once-in-a-century economic crisis," says Ryoji Musha, a strategist for Deutsche Bank in Japan.

How so? Consider the notion that, with perhaps $11 trillion in savings, the Japanese have enough wealth to cope. It sounds as if they do--until you realize that the total on- and off-balance-sheet claims on the household, corporate and government sectors in Japan are about $30 trillion, according to estimates by Goldman Sachs. That sum is six times Japan's $5 trillion GDP. (The total of U.S. public and private debt is $19 trillion, two times GDP.)

Those ratios in Japan are being made worse month by month, year by year, by deflation, which at perhaps 4% annually in Japan (measured in consumer prices) is the most pronounced in the world. Deflation aggravated the Depression in the U.S. in the 1930s. And it can spread. Cheap Toyotas are already putting pressure on U.S. auto prices. What if Japan devalued the yen, taking it from 133 to the dollar to 140 or 150 These Toyotas would then be even cheaper for U.S. customers. Robert Jay Pelosky, the chief global strategist for Morgan Stanley, says: "This would send a price shock into the U.S. and Europe at a time when we [the U.S. and Europe] are flirting with deflation."

At the same time Japan faces a debt bomb at home, it is also the world's largest creditor. If its banks were panicked into calling in overseas loans, by, say, a run on deposits, an economic contraction would sweep America and the globe.



1 of 4
Annie Oakley
User ID: 503783
United States
11/03/2008 05:50 PM
Report Abusive Post
Report Copyright Violation
Re: Damn, Ben Fulford did used to write for Forbes
Ahhh a new Ben Fulford fan!

WELCOME!

here are two very good interviews with him on Jeff Rense:

Thread: Benjamin Fulford on Rense - October 13 2008

Thread: Benjamin Fulford on Rense October 22 (4 parts)

He should be giving another one soon, so look for a thread about him on GLP.

Try this thread for more brainstorming about his type of ideas:
Thread: The actual New World Order that is here
Annie Oakley
User ID: 503783
United States
11/03/2008 06:32 PM
Report Abusive Post
Report Copyright Violation
Re: Damn, Ben Fulford did used to write for Forbes
bump for the OP.
Want you to see more about Ben...

News