Russia bans agricultural products from EU, USA, Australia, Norway, Canada | Reserve Bank of India Governor Raghuram Rajan warned Wednesday that the global economy bears an increasing resemblance to its condition in the 1930s

NOTHING BUT A "GODDAMN PIECE OF PAPER"  REALLY!

ISRAELI FIRSTERS NANCY AND HEINZ KISSINGER ARE LEADERS IN THE/A GANG OF CRIMINALLY INSANE GLOBALISTS' THAT HAVE DESTROYED THE UNITED STATES CONSTITUTION FOR THEIR PERSONAL DRESS-UP AND PAEDOPHILIA AGENDAS "21" ET AL ET CETERA (METZITZAH B'PEH PRACTITIONERS) DOING APARTHEID-GENOCIDE OVER AND OVER AND OVER AND OVER AGAIN

 By David Llewellyn-Smith, founding publisher and former editor-in-chief of The Diplomat magazine, now the Asia Pacific’s leading geo-politics website. Originally posted at MacroBusiness

The Wall Street Journal is reporting that:

Reserve Bank of India Governor Raghuram Rajan warned Wednesday that the global economy bears an increasing resemblance to its condition in the 1930s, with advanced economies trying to pull out of the Great Recession at each other’s expense.

The difference: competitive monetary policy easing has now taken the place of competitive currency devaluations as the favored tool for playing a zero-sum game that is bound to end in disaster. Now, as then, “demand shifting” has taken the place of “demand creation,” the Indian policymaker said.

As was the case in the 1930s, the lack of coordination between policymakers is producing spillovers that may be difficult to control, and the world’s financial system may soon face fresh turbulence at a time when central banks have yet to repair the damage that the 2008 financial crisis caused to developed economies.

“We are taking a greater chance of having another crash at a time when the world is less capable of bearing the cost,” said Mr. Rajan in an interview with the Central Banking Journal.

Before you write this off as the ramblings of a subaltern crackpot, recall that it was Raghuram Rajan that warned in August 2005 that:

Developments in the financial sector have led to an expansion in its ability to spread risks. The increase in the risk bearing capacity of economies, as well as in actual risk taking, has led to a range of financial transactions that hitherto were not possible, and has created much greater access to finance for firms and households. On net, this has made the world much better off. Concurrently, however, we have also seen the emergence of a whole range of intermediaries, whose size and appetite for risk may expand over the cycle. Not only can these intermediaries accentuate real fluctuations, they can also leave themselves exposed to certain small probability risks that their own collective behavior makes more likely. As a result, under some conditions, economies may be more exposed to financial-sector-induced turmoil than in the past. The paper discusses the implications for monetary policy and prudential supervision. In particular, it suggests market-friendly policies that would reduce the incentive of intermediary managers to take excessive risk.

He issued this warning at the FOMC’s Jackson Hole gathering where he was greeted with genteel jeering and was publicly dressed down by Larry Summers.

Rajan was proven very precisely to be right. Unfortunately he is almost certainly right again this time. The only question is when.

On that I’m on the record arguing that the Chinese property market may trigger the event some time after 2015. But another scenario that is a persuasive alternative is the Jeremy Grantham theory of a 2016 bubble bust for US markets following its Presidential election. On that Goldman today provides a nice trigger:

The S&P 500 will generate an annualised total return of 6 per cent between now and 2018 when Fed funds reach a “neutral” level of 4 per cent…We assume a neutral Fed funds rate will be reached in 2018, and 10-year Treasuries will yield 4.5 per cent. Our baseline scenario implies an annualised total return of 1 per cent on a constant maturity 10-year Treasury note through year-end 2018…Buying a 10-year Treasury note and holding it through 2018 would also generate a nominal annualised return of 1 per cent.

If we ever reach 4% I will very happily eat my hat.

[sidebar:   How to translate this Reserve Bank of India Governor Raghuram Rajan warning on Wednesday?  What happened that was a major significance in the globalists' agenda?

RUSSIA >> http://rt.com/business/178636-russia-bans-products-medvedev/ 


[sidebar:continued ... Now appearances may appear to be what is appearing, however, the reality is human beings are addicted to the ideologies of such as, but not limited to, money.  Where is all this money coming from, going to and furthermore where is this money actually co-created from?  How does money become money, to do all this money trading and exchanging that the Reserve Bank of India Governor Raghuram Rajan speaks in code to-for-of-about those that are the controllers obviously of the 'money'  ??

Russia may appear to be doing what appears.  However, there wasn't any country not in on the AGENDA 21 AGENDA.  Please this planet has been operating more systematically than what appears for much longer than the appearance.  Israel isn't on the list of being banned by Russia, hmmmm.  O.K. moving right along the pulling out of globalism is happening and the great recession is being said as words of obfuscation.

The 2005 words were about how the financial innovative products had failed.  Too many fake products of supposed country wealth (DERIVATIVES) were criminal financial fraud against the people that were not told that money is already criminal fraud against the people of earth, the multitudes of "Homo Sapiens" are defrauded via the criminally insane of our species.

Ann L. Aiken, with ?  A HANDLER for the "New World Order GREEN AGENDA 21"?  It was a REICH and this time George W. Bush "Jr" the dumbest poly addict in the land, got to be leader of 'Merica.

CHOSEN ONES.  We got to have the Chosen Israeli Firsters this time around, the TIM GEITHNER and LARRY SUMMERS, Et Al.  Ann L. Aiken was chosen by the Clinton criminally insane duo of Rockefeller Ilk.

Reptilian Brain Ann L. Aiken has proven her criminal insanity knows no bounds.  She put Daniel Ernst in prison, disappeared him from the world and what for?  Weed.  What does she do?  Well her portfolio was all about SUICIDE OREGON, until her own son committed with a kit bought on-line, SUPPOSEDLY "self-suicide".   ?!

LEGAL TRIBE & ONE OF ITS' MASTERS

LOVE FEST BURNING THE ENLIGHTENMENT INTO NEVER ENDING GHETTO HELLS

WHAT A THRILL TO BE THE DEMONS IN HELL

RONALD FRASHOUR III, READY FOR PORTLAND, OREGON'S AGENDA 21 GREEN KILL-KILL-KILL, ESPECIALLY WHEN THE BLACK SKIN IS ON THE HUMAN BEING

WTF THEY CAUGHT US SPYING ON RUSSIA

RUSSIA IS PULLING OUT GODDAMN THE FUTURE OF MY RETURN TO OWNING A KINGDOM THERE

DO AS WE SAY OR BURN IN OUR CORRECTIONS CORPORATIONS OF AMERICA

SIDEBAR continued ... America is drowning, and also simultaneously rising.  COMMUNISM in China, Russia and almost here as bad as there and there!

What chaos that seeks to find a balanced order.  Can't allow the criminals that have gone totalitarian insane to control the world earth.  And most certainly NOT with the criminal fraud of manufacturing so-called MONEY out of virtual this-and-that AND then charge usury interest into PERPETUITY ANN L. AIKEN.  Oh, yes, yes the DERIVATIVES WEAPONS OF FINANCIAL DESTRUCTION (Warren Buffett was correct), have never been addressed in the United States of America.  Why have no obscene real profits been discussed?  Century 21?  Agenda Green 21 is in full bloom, why not address the MONEY to be AGENDA 21 GREEN FULL EXPOSURE?

Americans have been criminally defrauded.  The CRIMINAL FRAUD has been a long time ongoing and those that have committed the CRIMINAL FRAUD are known, mostly, unfortunately, as the LEGAL TRIBE -- which has been found accountable via world earth's deciding the deciders in the USA aren't exactly trustworthy power brokers of GLOBALISM'S GOBBLE-ISM$.  Over is coming alright, over for the hidden hand of the Israeli Firsters that do Metzitzah B'Peh, and can't therefore, be considered sane to lead the world earth in Century 21, for absolute certain.

http://theartof12.blogspot.com/2014/05/cliff-high-half-past-human-grand-penis.html

http://www.halfpasthuman.com/wujo/wujo3242012peniscon.mp3

.. to be continued ...