Opinion (Robert Zoellick, The head of the World Bank): “Beware a rerun of the Great Panic of 2008:’ Head of World Bank warns Europe is heading for ‘danger zone’ as world markets suffer bleakest day of the year so far. …

“ Mr. Zoellick…said ‘it was ‘far from clear that eurozone leaders have steeled themselves’ for the looming catastrophe amid fears of a Greek exit from the single currency and meltdown in Spain.

“The flow of money into so-called ‘safe havens’ such as UK, German and US government debt turned into a stampede yesterday. …

“There was a raft of dismal economic news from around the world, with manufacturing output falling in Britain and Europe, unemployment jumping in the eurozone and America, and fast-emerging economies such as Brazil and China showing signs of running out of steam.”

My Comment: Well, we finally hear true statements, and not advertising. It’s no longer possible to hide the collapse of the consumption system. There is only one way out—to change it. But still no one is talking about the one and only solution. So, the crisis will continue until the stubborn people capitulate. Just how much misery, deprivation, and hunger will people suffer because of the short-sightedness and stubbornness of financiers?
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