GEAB N°21 (Januray 16, 2008) – Contents

{{2008: Full global impact phase of the Very Great US Depression}}

From now to this summer in particular, the financial crisis triggered by the US subprime mortgage loans will turn into a much wider-ranging crisis involving the implosion of the Credit Default Swaps (CDS) market. This will represent a now tipping point in the impact phase of the global systemic crisis… (page 2)

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{{Asia, Europe and emerging countries in 2008 – Direct but mitigated impact of the Very Great US Depression: Recession, stagflation and Western financial institutions taking control}}

The diving of the US into the Very Great Depression will bear a full direct impact on global economy altogether… (page 3)

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{{Financial planet 2008 – End of effective coordination among world’s large central banks}}

Growing differences among the situations met by each large economic area in the world, combined with the collapse of the US leadership in the financial, economic and political fields, result in growing differences among the strategies implemented by the world’s large central banks… (page 7)

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{{USA 2008 – Political powerlessness and financial collapse as the Very Great Depression hits}}

The agitation gradually seizing the White House as much as the Congress and campaigning candidates is a clear sign that anxiety is growing on the US political leadership. In the next few weeks, each one will start presenting his/her “stimulation of the US economy” plan… (page 8)

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{{A powerless Fed wavers between supporting the economy, fighting inflation and supporting the dollar}}

Simultaneously, the US Federal Reserve will clearly demonstrate the inefficiency of its favourite measures (rate drops and liquidity injections), while most of its action relays worldwide will vanish… (page 11)

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{{2008-2018 – Ten years minimum to get out of the Very Great Depression}}

Whether they like it or not in Washington and New-York makes no difference: the unfolding Very Great Depression is of historical dimension and will require to invent exceptional measures with no equivalent in any of the US policies conducted since the 1930s… (page 12)

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{{2008 – After the mortgage loans crisis, here comes the corporate debts crisis}}

It is now the time of company profits to be directly and suddenly affected by the ongoing recession, as they are caught in the crossfire between insolvent consumers and banks in a state of shock… (page 13)

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{{‘7-UP AND 7-DOWN’, FOURTEEN KEY-TRENDS IN 2008 – Seven subjects lose momentum along the year 2008 / Seven subjects gain momentum along the year 2008}}

Which trends will go up? Which trends will go down among the 14 following subjets: protectionism, European central Bank, sovereign funds, energy and food commodities, Nicolas Sarkozy, Chinese leaders, interest rates drops, new EU-member states’ economies, the US model, central banks coordination, hedge funds, Vladimir Putin, the US crisis, the EU? (page 17)
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{{The GlobalEurometre – Results & Analyses }}

Though they no longer fear too much an IRAN-USA military conflict, it does not means that the Europeans are ready to see their common defence placed under NATO control… (page 21)

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