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Posts Tagged ‘Gross domestic product’

100 mln to die by 2030 if world fails to act on climate

Posted by Admin on September 27, 2012

http://in.news.yahoo.com/100-mln-die-2030-world-fails-act-climate-095505632.html

By Nina Chestney | Reuters – 9 hours ago

               LONDON (Reuters) – More than 100 million people will die and global economic growth will be cut by 3.2 percent of gross domestic product (GDP) by 2030 if the world fails to tackle climate change, a report commissioned by 20 governments said on Wednesday.

As global average temperatures rise due to greenhouse gas emissions, the effects on the planet, such as melting ice caps, extreme weather, drought and rising sea levels, will threaten populations and livelihoods, said the report conducted by humanitarian organisation DARA.

It calculated that five million deaths occur each year from air pollution, hunger and disease as a result of climate change and carbon-intensive economies, and that toll would likely rise to six million a year by 2030 if current patterns of fossil fuel use continue.

More than 90 percent of those deaths will occur in developing countries, said the report that calculated the human and economic impact of climate change on 184 countries in 2010 and 2030. It was commissioned by the Climate Vulnerable Forum, a partnership of 20 developing countries threatened by climate change.

“A combined climate-carbon crisis is estimated to claim 100 million lives between now and the end of the next decade,” the report said.

It said the effects of climate change had lowered global output by 1.6 percent of world GDP, or by about $1.2 trillion a year, and losses could double to 3.2 percent of global GDP by 2030 if global temperatures are allowed to rise, surpassing 10 percent before 2100.

It estimated the cost of moving the world to a low-carbon economy at about 0.5 percent of GDP this decade.

COUNTING THE COST

Responding to the report, Oxfam International said the costs of political inaction on climate were “staggering”.

“The losses to agriculture and fisheries alone could amount to more than $500 billion per year by 2030, heavily focussed in the poorest countries where millions depend on these sectors to make a living,” said executive director Jeremy Hobbs.

British economist Nicholas Stern told Reuters earlier this year investment equivalent to 2 percent of global GDP was needed to limit, prevent and adapt to climate change.

His report on the economics of climate change in 2006 said that without any action to tackle climate change, the overall costs and risks of climate change would be equivalent to a cut in per-capita consumption of perhaps up to 20 percent.

Temperatures have already risen by about 0.8 degrees Celsius above pre-industrial times. Almost 200 nations agreed in 2010 to limit the global average temperature rise to below 2C (3.6 Fahrenheit) to avoid dangerous impacts from climate change.

But climate scientists have warned that the chance of limiting the rise to below 2C is getting smaller as global greenhouse gas emissions rise due to burning fossil fuels.

The world’s poorest nations are the most vulnerable as they face increased risk of drought, water shortages, crop failure, poverty and disease. On average, they could see an 11 percent loss in GDP by 2030 due to climate change, DARA said.

“One degree Celsius rise in temperature is associated with 10 percent productivity loss in farming. For us, it means losing about 4 million metric tonnes of food grain, amounting to about $2.5 billion. That is about 2 percent of our GDP,” Bangladesh’s Prime Minister Sheikh Hasina said in response to the report.

“Adding up the damages to property and other losses, we are faced with a total loss of about 3-4 percent of GDP.”

Even the biggest and most rapidly developing economies will not escape unscathed. The United States and China could see a 2.1 percent reduction in their respective GDPs by 2030, while India could experience a more than 5 percent loss.

The full report is available at: http://daraint.org/ (Editing by Janet Lawrence)

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Why Portugal May Be the Next Greece

Posted by Admin on May 22, 2012

http://business.time.com/2012/03/27/why-portugal-may-be-the-next-greece/

Why Portugal May Be the Next Greece

The worst is over for the euro zone, the experts say. But Greece isn’t really fixed and Portugal could become a second big problem before year-end

By Michael Sivy | @MFSivy | March 27, 2012

When Greece celebrated its Independence Day on Sunday, there were scattered protests over the harsh austerity program aimed at stabilizing the country’s finances. The government reportedly removed low-hanging fruit from bitter-orange trees along the parade route, so it couldn’t be thrown by protesters. But, basically, the most recent bailout appears to be successful. As a result, worries about the European financial crisis have diminished somewhat. Indeed, European Central Bank president Mario Draghi has said that the worst is over for the euro-currency zone.

Such optimism may be premature, however. Not only does Greece remain a long-term financial concern, but in addition Portugal is on track to become a second big problem.

The dangers Greece still poses are clear. Higher taxes and government-spending cuts may reduce new borrowing, but such austerity policies also undermine a country’s ability to pay the interest on its existing debt. Unless accompanied by progrowth policies, austerity can become the financial equivalent of a medieval doctor trying to cure patients by bleeding them. In addition, the bailout plan for Greece consisted of marking down the value of much of the country’s debt held by banks and other private lenders. That means entities such as the European Central Bank now hold most of Greece’s remaining debt. And so, in the event of a default, important international institutions would suffer the greatest damage.

(MORE: Is Germany’s Euro-Crisis Strategy Actually Working?)

The net result has been to postpone the Greek financial crisis for months or even a couple of years, while raising the stakes if things go wrong. That could be seen as a considerable achievement, if you believe Greece is a unique case and that the problem has been successfully contained. The trouble is that other countries — and especially Portugal — seem to be heading down the same path. Here’s why forecasters are worried:

Portuguese interest rates haven’t come down. Because of the Greek crisis, bond yields rose to dangerous levels in several financially troubled European countries. Then after Greece was bailed out, yields fell in most of them. In Italy, yields on bonds with maturities of around 10 years dropped from more than 7.2% to around 5%; in Spain, from 6.7% to 5.4%; and in Ireland, from 9.7% to 6.9%. The notable exception was Portugal, where bond yields came down a bit but still remain above 12%. Double-digit borrowing costs are impossible for a heavily indebted country to sustain for any significant period of time. Yet Portugal’s bond yields have been above 10% for the past nine months.

Portugal’s total debt is greater than that of Greece. In one way, Greece really is unique — the country’s massive debt is largely the result of borrowing by the government rather than by the private sector (corporations and households). By contrast, Portugal, Spain and Ireland have far more private-sector debt. As a result, while government debt in Portugal is less than that of Greece, relative to GDP, total debt (including private-sector debt) is actually greater.

(MORE: The Most Important Man in Europe)

The Portuguese economy is shrinking. Portugal’s economy has been weak ever since the financial crisis began in 2008, and the country has actually been in recession for more than a year. Moreover, last month the Portuguese government projected that the country’s economy would contract by 3.3% in 2012. As Portuguese companies struggle to pay off their own massive debt, it’s hard to imagine that they will be able to help pull the country out of recession.

Thanks to a bailout last year, Portugal has enough money to make it into 2013, despite brutally high interest rates and a shrinking economy. But the markets are unlikely to wait that long to go on red alert. In the case of Greece, bond yields topped 13% in April 2011, and by September they were above 20% and heading for 35%. Portuguese yields have been above 11.9% for the past four months and have topped 13% several times. If the country follows the same timeline as Greece, Portugal could suffer a serious financial crisis before the end of the year.

There are a number of reasons such an outcome would be serious, despite the relatively small size of Portugal’s economy. First, the European Union has been operating on the assumption that Greece is a unique case, a poor country suffering from rampant tax fraud and an unusually dysfunctional government bureaucracy. If another euro-zone country experiences similar problems — and they occur partly because of private-sector debt rather than government borrowing — then the flaws in the system start looking more general, and the stability of the entire euro zone is called into question.

(LIST: The 10 Most Memorable Ads Featuring Celebrities And Their Kin)

Moreover, much of the borrowing by Portuguese companies has been financed by Spanish banks. That creates the possibility of a domino effect, whereby a financial squeeze in Portugal leads to a crunch in the Spanish banking sector. Moreover, the debt structure in both Spain and Ireland — with large amounts of private-sector borrowing — is similar to that of Portugal. Germany and the Netherlands are already balking at making further loans to Greece. And although Northern European countries could afford to bail out Portugal, their resources are limited. If a second country goes the way of Greece, several more might well follow.

Since Europe’s problems seem to have receded for the moment, U.S. investors are understandably focused on other risks — like conflict with Iran that could sharply push up oil prices, or fights over taxes and the federal budget in the run-up to the elections. But the danger of a European financial crisis has not gone away — and the ultimate costs could run to more than half a trillion dollars.

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ECONOMIC COLLAPSE 2011 – AUGUST UPDATE

Posted by Admin on August 31, 2011

https://sites.google.com/site/universallawpress/economic-collapse-in-2011/economic-collapse-2011—august-update#TOC-ECONOMIC-COLLAPSE-2011—AUGUST-UPD

By Georgi Stankov, Copyright 2011

This economic update is a response to the question from the journalist Alfred Webrefrom the examiner.com and exopolitics.com to me on August 8, 2011:

Question from Alfred Webre to Dr. Georgi Stankov:

Can you identify causes, coordinates, timelines, and outcomes of the coming economic collapse?


Answer from Dr. Georgi Stankov to Alfred Webre on August 9, revised on August 20, 2011

The current financial crisis is part of the Scenario for the End Times in 2012 and was planned eons of time ago by the AnunnakiThey have left earth in March this year. The renegade Anunnaki that build the blue bloodline of the 13 ruling families (Rockefeller, Rothschild, The British Royal family etc.), which currently control this world financially, have severed all bonds with the initial Anunnaki, who were our original genetic engineers, and declined to observe the divine plan for earth and humanity in the End Times. Hence the many delays in the 2012-scenario, which was planned to begin in 2009 or even earlier.

Thus all the necessary events, which will lead to the collapse of the Old World Order, will now take place within several days or weeks. This is the background information, which one should consider in order to understand the present forecast. Within this framework, I will discuss the actual causes for the financial collapse, which are currently known to the broad public as random events from the mass media, but are not analysed in the context of Ascension. This concept is only known to few light workers, and even among them there is a huge confusion as to what will really happen and how it will happen in the course of this and next year.

The single major cause for the current financial collapse, which has commenced at the beginning of this month (August), is the World inflation. It was deliberately instigated by the Anunnaki and their minions in the financial sector and in all Western governments. Most CEOs and managers are willful, greedy puppets of these alien masterminds, who have long-term plans for the End Times of this planet, which they consider to be their own. I have discussed the Anunnaki’s heinous methods of money inflation in my three essays on the Orion monetary system.

The world inflation, the money supply in circulation worldwide, was about 200 times bigger than the actual industrial production measured as GDP in October 2008 when the current depression began. We are still in the same crisis, which will end with the total destruction of the old economic order this year. As this will happen within the next 90 days, there is no point in giving exact dates, because this will be irrelevant. It is sufficient to point out that the old financial structures will be wrapped up by 11.11.11 (November 11, 2011), when the last, but one star portal will be opened and the ascending timeline of earth and humanity will enter irrevocably the 5th dimension.

The current world inflation is inflation created out of debt. You have the debt of the banks, with which they intended to control the world economy, as they actually did until 2008. The problem of debt is that you can play the game as long as debt is accepted by the other players. As soon as mistrust and fear grip around, the process is reversed. This has happened on many occasions in the past – hence the numerous crises every 3 to 5 years.

The current debt inflation was delegated from the banks to the governments in form of fiscal debt, caused by the huge bailouts of the defaulted banks in 2008 and 2009. This debt was then burdened onto the tax payers, the citizens, in form of austerity programmes. This is the basic mechanism, with which the renegade Anunnaki planned to impoverish the human population and enslave it in the End Times.

But every process on earth and in All-That-is is of dialectical nature. You can stretch the rubber as long as you can in the direction of darkness, but then you have to let it go, and it whiplashes equally further in the opposite direction of light, which is Ascension. Exactly this mechanism, based on the elasticity of All-That-Is (for further information see “Cosmic Laws of Creation and Destruction“) was used by the Forces of Light and by the incarnated human souls from the Higher Realms to overcome the huge resistance of the dark ones in the financial sector and in government in the last several years.

For this reason, the Forces of Light mitigated the financial crisis in 2008 in order to prevent the plan of the 13 ruling families to ruin the Western countries and establish the New World Order. Humanity stayed in the Old Order, which will be wrapped up in the coming 90 days under the conditions of the Forces of Light. This would say that the human dark ones in finance and governance, which have now become orphans after the Anunnaki have left earth, will have to surrender unconditionally to the Forces of Light.

Their only condition will be love, compassion, and forgiveness. This would say that the dark ones, who still believe in controlling mankind and earth, must simply open to this inevitable truth. This will happen with or without their consent, as the huge high frequency waves from the central sun of the galaxy are flooding earth and opening the human hearts (the 4th chakra) for the Christ energies of unconditional love. The only unknown variable is the degree of readiness of each individual to open for these energies and accept unconditional love, transparency, and full rejection of all kinds of manipulation as the only spiritual principles of human behaviour.

This total psycho-mental transformation of all incarnated human entities on earth must be based on the deep spiritual insight that all human beings are part of the Source (All-That-Is) and that the idea of Separation, leading to wars, oppression and endless atrocities against other human beings in the past, is the greatest illusion, to which any sentient entity in this universe can succumb.

Now, I hope that you understand the dynamics and the logic behind the coming events. One should always explore the events on earth from both, the spiritual and concrete point of view. This is the dialectics of any expanded human awareness that enables it to transcend the illusionary duality of 3-space-time on earth.

Now let us go back to the present economic situation. The financial system is broke since 2008 and is on life-sustaining fraud since then. This fraud is termed in financial slang. as “creative accounting”. It means that all broke big banks were allowed by their governments to take all their toxic assets and losses out of their balance sheets. Otherwise, they would have defaulted in October 2008 or several weeks later.

None of the money in circulation currently are real money. The equity charts were kept artificially high by fictive transactions since 2009 through 2011. Specialists have found out that since 2008 90% of all orders on the New Yorker stock exchange are faked and were electronically traded by the biggest Wall Street banks in a coordinated fashion.

They manipulate the charts by short and long orders through computerized programmes as to keep the equity markets artificially stable. Everything is manipulated.  All real private investors have left the equity markets long time ago. There is no free financial market anymore, and it has never been there in the first place. But since the beginning of August, they can no longer manipulate the equity markets, and they have begun to crash. This is the actual situation, and that is why the brokers are so nervous. One has to watch CNBC or Bloomberg to notice immediately the sheer panic of the traders and the journalists in their lifeless eyes.

The bosses of all the big banks behave in the last days like “paralyzed rabbits in front of a cobra”, to quote a German saying.

However, the Forces of Light have chosen the least explosive scenario for the End Times. They have decided to let the system crash when the cosmic energies that flood earth have reached the necessary light quotient that will simply disable the dark ones in the financial sector to control the world events, as this has been the case in the past.

In addition, the coming astral energies of rebellion and upheaval ignite the masses worldwide, and they no longer trust their former masters, be they politicians or financial bosses. The current anti-corruption movement in India that came out of nowhere and swept across this huge country of one billion people caught the Indian government by a total surprise. Its embarrassing retreats in front of a single man in a hunger strike, whom they initially imprisoned in the old oppressive manner. are paradigmatic for the confusion that has gripped the political Elite worldwide and will soon destroy the fragile political and economic order.

If one follows the political development in Europe for example, there is currently the march of indignation which started in Spain and is now engulfing the whole EU.

All EU-countries, except Germany, are practically broke. If the small Greece could derail the Euro currency, how about Spain, Italy, Portugal, Ireland, Italy, and even France put together. All the big banks in these countries are also bankrupt, because they are highly leveraged and sit on huge toxic loans, which they will never get payed back.

This explains the EU-saving package for Greece and the other “pigs” countries – it is a saving belt for the French and German banks. Only Deutsche Bank has 50 billion Euro toxic Greek loans in its books, which Greece will never pay back. This is twice the basic capital of this bank and higher than its capitalisation at the Frankfurter stock exchange. But this bank has much more toxic loans from Ireland, Spain, and Italy in its books.

The actual crash exacerbated when it became known that the Deutsche Bank sold all its Italian treasure bonds because it assumed that Italy would go bankrupt very soon. The same holds true for the big French banks, SocGen and Credit Lyonnais. The big Spanish banks are already broke and some of the big Italian banks as Unicredit have been effectively bankrupt since 2008. The English banks HSBC and Royal Bank of Scotland have actually defaulted in 2008 and are since than de facto state banks, just as the two big Irish banks that caused the current political and economic crisis in this country. And so on.

It always takes 3 to 5 years before a real bankruptcy of a large company is officially declared, as was the case with the Enron scandal. This time-lag between actual default and its official announcement has been defined by myself as “Stankov’s law of financial default”.  It works fabulously in the current situation.

The financial situation in Great Britain is even worse than that on the Continent. The British debt is similar to that of Greece, Portugal, and Italy in terms of GDP, which is more than 100%, Even Germany that ranks strong among all other Western countries has a national debt of 80% of its GDP since its unification with East Germany.

Now Europe and Great Britain (EU) are still in a much better financial and economic shape than the USA, only one talks much more about these countries as to divert the attention of the masses from the disastrous situation in the USA. Even the politically correct Claude Trichet, the chairman of the ECB, had to admit this fact recently under huge pressure from the mass media. The international banksters have already begun to throw stones at each other.

I will not discuss the situation in the USA in detail, as you know it better than myself. I will only add to this that the overall debt of the USA is not the 14,5 trillion fiscal debt, which drew the attention of the mass media in the last several weeks because of the fiscal debt ceiling fiasco of the political Elite at the Capitol, but actually 200 trillion, and thus 13 times bigger than  the GDP of the USA. This is generally acknowledged by all competent experts, even when they prefer to be silent on this issue in front of a camera.

All the federal states and local municipalities in the USA are currently broke, while the real unemployment in this country is 20% and higher – similar to that of Spain, which is the worst hit country by the crisis in Europe.

Now, given this disastrous situation, the question is not if the system will collapse, but why it has not collapse much earlier. This is so, because the Forces of Light kept it on life-sustaining measures for some time,  by allowing the dark ones in the financial sector to continue with their global fraud for a while and thus drain the system to the last drop of its fresh blood, respectively money.

As I have already written to you, there is an invariant seasonal pattern how a major world crisis unfolds on this planet. You can trace this pattern for WW1, WW2, and for the Fall of the Iron Curtain in 1989.

Major global events that change the destiny of mankind always tend to show themselves after spring equinox by numerous symbolic signs, which can only be discerned by far-sighted people at the beginning. Then the signs begin to grow throughout the spring. The first visible manifestations of the coming change take place at the beginning of August and gain momentum throughout September. When this threshold is reached, the dam is broken and the flood inundates the society within days and hours. This will be the timely dynamics behind the coming events that will lead to total economic collapse of the old order and to ET Disclosure and First Contact in the fall of this year.

The financial crisis was announced in early spring when the Greek default became inevitable and the Euro crisis commenced. It reached a preliminary peak in July with the fiscal debt ceiling crisis of the political Elite in the USA and the possible default of this country. Although this crisis was averted in the last minute, this was a Pyrrhic victory as the US-rating was degraded at the same time.

This was the official start of the global financial collapse, which now reached the equity markets at the beginning of August, when all  indices lost 1000-1500 points within 5 days, which is, per definition, already a financial crash. This trend will continue throughout August. Currently, the DAX Index of the most stable economy in the Western world, Germany, has fallen more than 20% – from 7400 points at the end of July to less than 5500 on August 19. This is the worst performance since October 2009.

The more wealth is wiped out at the stock exchange, the more nervous the people will become, and the deeper the crisis. Currently, the total losses on all stock exchanges worldwide are estimated to be in the order of 7 to 10 trillion. But the psychological loss is much more dangerous, because it is contagious. As soon as the banksters realize that they can no longer manipulate the indices, they will crumble within several days, and the rats will begin to leave the sinking ship: This insight is bound to enter the blurred consciousness of the international banksters at the latest by the end of August

Wealth, created out of debt, melts immediately when the people begin to demand the return of the lent money, and it becomes evident to everybody, participating in this fraudulent game, that there is no money left, but only debt. This is how the crisis will explode in the fall. At the very moment, when all participants in the current Ponzi-Scheme realize that they have only debt in their hands, while all real money is gone, the crash will be a done deal.

The world economy is like an addict, who has lived on higher and higher dosages of opiates because their pharmacological effect diminishes as the number of opioid receptors grows in the body. In this case the patient needs higher and higher dosages to achieve the same anaesthetic effect.

When there is a drug withdrawal, the patient experiences an acute withdrawal syndrome and may not survive it, as all vital systems are out of control and run amok. You can use this comparison to describe the current financial situation that will explode in the fall. The economy is already in a financial withdrawal syndrome and can fall in coma anytime soon.

Some seers expect that the banks will close their doors in August. I expect this event in late September or in early October, but I will not be at all surprised, if this crash happens earlier. One should not give any fixed dates in this respect, but it is wise to expect the total collapse of the system in the fall of this year.

After the shock, the whole economy will be paralysed for a while. This is the just psychological moment for ET-Disclosure and First Contact and changing the course of the events on this planet.

There are essentially two scenarios for the End Times: Either the Galactic Federation will show up first and then some Ascended Masters in a physical vessel will officially transform their bodies and appear as such in front of humanity, or it will be the other way round. I am in support of the second alternative. However, this should not influence our prognosis on the coming financial collapse, as one of the two alternatives will definitely take place no later than the opening of thestar portal 11.11.11. This is the pivotal date for all major events that are bound to happen this year.

Ultimately, the divine plan for this planet and humanity is to destroy all material structures of the old economic order of the Orion Empire, before a new provisional order can be established prior to Ascension. There are two pivotal dates, which one should always bear in mind – 11.11.11 and 12.12.12. By November 11, 2011, the old economic order must be abolished for ever and human beings deprived of most distractions in the outer world that hinder them on their way to Ascension.

Human ego hinders Ascension and must surrender to the soul. It can only be neutralized when the carpet is pulled away from under its feet. There is no other way on earth to effectively eliminate the collective and individual ego that shapes the dark destiny of humanity, but to take away any possibility from it to exert its illusionary free will in the outer material world.

After that mankind will fall in its greatest collective depression in the history of this planet. This mental and emotional state is energetically extremely favourable for radical changes that will open the mediality of the incarnated entities to the Higher Self, respectively to the soul. This will be accomplished by the end of 2011.

Many revelations will have to take place in this time, carried out by the human Ascended Masters from the first wave and later on by the Galactic Federation,which will have disclosed by then.

The year 2012 will be dedicated to the preparation for ascension, and it should not be that much chaotic and full of scary events, as this year will inevitably be. Therefore, I do not expect huge natural catastrophes for this time, but there will be some local disasters as in the past.

This is all for the moment.

Further Links

ExoPrediction: “Sharp economic decline”; Solution: Commit to unity consciousness
http://www.examiner.com/exopolitics-in-seattle/exoprediction-sharp-economic-decline-solution-commit-to-unity-consciousness

Posted in Annunaki Overlords, Anomalic Interferences, Conspiracy Archives, Earth Changes, Economic Upheavals, Exopolitical Interventions, Geo-Politics, Global Research, India Forgotten, The Esoteric Agenda of Humanity, Truthout Articles | Tagged: , , , , , , , , , , , | Comments Off on ECONOMIC COLLAPSE 2011 – AUGUST UPDATE