We live in interesting times

[Flagg]

Due to the News of the World phone hacking scandal, every media outlet is buzzing and scrutinizing Murdoch and his empire. Apparantly the FBI are going to investigate allegations of phone hacking of dead 911 victims. Any bets how long it will take before an allegation emerges that Fox News has been doing "naughty" things as well?

Heard on the radio today that the U.S. is going to try and defer it's debt. Not sure that is a good idea at all. Source here:
http://economicsnewspaper.com/policy...ebt-43394.html

Also hearing reports that Ireland may have to not only defer their bail out but also may need another one.

Italy in serious trouble. Looking like it could go under, but unlike Greece, it will cost around 1.6 trillion dollars to get Italy back on its feet. To cut a long story short, NO ONE has the means of actually bailing Italy out.

Revolutions popping up all over the Muslim world. Egypt, Iran and now Syria. I think it's a good thing. The young generation of the Muslim world has been exposed to the internet and they are sick of the old ways. A lot of violence and blood will be shed but it will be worth it in the end.

All in all, I think the world entire is going to go through some radical changes, economically and politically. Could we be seeing the end of the US dollar and the Euro? I'm beginning to think China and India are going to end up replacing the US and the EU as dominate world powers at some point in the future. I don't think anyone in the West will revert to poverty, but we're beginning to weaken our grip on the world.

[DCI]

You would be correct. The power of the West will wither with all this rubbish of bail outs. Ireland should be ok/ Our exports are flat out but it's national spending is in free fall with all the unemployment and the fact fuel, food everything has increased by about 3/4% in the past year it's insane people are litterally going from one payment to the next and have nothing in reserve. I think but Spain and Italy will take the whole bundle of cards down when they crash. Note I said when they crash and they will crash hard. The Euro is gone. The Germans are trying to take over the EU again but this time instead of doing via an army they are doing it via the EU.

The US is up to it's tits in Debt and it owes all it's money to China. With India and china making up nearly a 1/3 of the worlds population I can see them getting bigger and bigger and the fact for the past 5-8 years china has been stock piling resources at an obsecene rate and now the fact they have one of the biggest car industries in the world they are only going to grow and want more of the resources.

As you say it is interesting times. I work for a the largest food company in the world and when they are looking to invest in developing nations it is for a reason. They are building factories left right and center in these places.