The comment,"The world has to prepare for the next financial crisis, even though this one is not over yet", rings afrightening tone. It started in the US of 2008, then Dubai, then the present weaker European countries, then as suggested by this video, the next one would be China and India?Would Singapore be pulled in also, considering the billions our GLs poured into the Chinese real estate, and the disturbingly report in today's Papers, the local banks rushing in to fill the vacuum of Loans lending in the PRC, most probably again related to the Property sector.Better to be hands off the local listed Banks and Property Developers who have huge over exposure to China or India.
Governments all over The World should ban companies like MF Global, rating agencies and companies that prey on weaknesses of others. These companies exagerate the financial weaknesses of Governments, companies, organisations and individuals.In the past, countries which were in financial dire straits could take time to plan and implement austerity programmes which could put them back to fianancial health. These days, those sickening vultures ruthlessly tear those countries apart and cause untold miseries to their citizens.
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