The Global Recession Will Accelerate

Dr. Michael LaitmanOpinion (from Comstock Partners): “The U.S economy has been slowing in the last two or three months. Either downside surprises or actual declines have been reported in key economic indicators relating to consumer spending, new orders, production and employment. …

“The Chinese economy is slowing, perhaps by more than the official numbers show. … China’s economic model is heavily dependent on capital investments and exports, while internal consumer spending remains a relatively small part of GDP. … All in all, it seems that it will be difficult to avoid a hard landing.

“The slowdown in Europe, the U.S. and China is also impacting the economies of the emerging nations, which are heavily dependent on exports. Declining growth is also driving down commodity prices. Despite all of the talk of decoupling, it seems apparent that the economies of all nations are linked and that there is little prospect of an oasis of prosperity in an increasingly dependent world. …

“Unfortunately, the monetary and fiscal authorities are out of ammunition. … We believe that the April 2nd peak in the S&P 500 marked the top of the uptrend from the March 2009 lows, and that a major market decline is ahead.”

My Comment: Not a single expert has a plan of getting out of the general crisis because it is total, multi-faceted, and interrelated. The world has become interconnected and requires a similar interconnected approach. It can be provided only by an integrally organized community that has a feeling and understanding of the interconnected world.

Of course, it is possible to continue the attempts to lead this world in an egoistic, protectionist manner, but this promises huge suffering that will bring us to the need to change ourselves to survive in the new interrelated world. We will not manage without implementing mandatory integral education and upbringing for the population, and the sooner we realize this, the less damage the exit of the crisis will cause us.

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