Powers Behind Wall St and Banks, want 100 Trillion more in Credit

[Katashi_itto]

Can you say "Ponzi"? The best line too is "expected economic growth" ...Snicker... That should get an oscar..

Keep in mind the entire PLANET makes somewhere around 40-80 trillion a year.

Plus we are already on the hook for 100 trillion plus in the toxic assets---CDOs .oh wait no It will never be paid off due to the magic of compounded interest rates...Sort of Greece on the Global Scale..


From The Davos

World needs $100 trillion more credit, says World Economic Forum
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.

"Pockets of credit grew rapidly to excess – and brought the entire financial system to the brink of collapse," said the report, written in conjunction with consulting firm McKinsey. "Yet, credit is the lifeblood of the economy, and much more of it will be needed to sustain the recovery and enable the developing world to achieve its growth potential."

http://www.telegraph.co.uk/finance/financetopics/davos/8267768/World-needs-100-trillion-more-credit-says-World-Economic-Forum.html

Max Keisher Report also Mentions it at around 11:01:

http://www.youtube.com/watch?v=YtjbZl6ZwkQ

Personally I think this will happen soon. Bank sheets are sliding downward (go figure) more money (there will never be enough) is needed to offest the zombie banks.

Rec Please, People need to know!

Oh and Hi this is my first Topic!

[TheWraith]

1. Well no, you got almost every part of that post wrong.

For starters, the global planetary product is $60 trillion, not 4 to 8 trillion.

You seem to completely missed the line where they mention over the next TEN years.

And you've spun it all into some kind of conspiracy theory about banks, rather than what the article is about, which is restoring the free flow of credit to get the economy going again.

[Katashi_itto]

3. Not spinning

as a conspiricy it the natural byproduct of bad gambles with other peoples money. Loans leveraging loans, leveraging loans ad nasueam.

[Jack Rabbit]

2. If they're looking to me and about 6 billion others to put it up, they should look elsewhere

Maybe those fellows in Davos should find some honest work, if anybody is left to give them any.