The UK banking sector is under intense scrutiny with predictions that VAT contributions, energy prices and import prices are all set to decline as we make the transition from 2011 to the fabled '2012'. With unemployment at a 15-year high of 8.3% and serious concern that the Bank of England may be planning further Quantitative Easing measures, it stands to reason that the end of the 5,125 year Mesoamerican long count calendar, and the global catastrophe that comes with it is firmly on course for December 21st 2012.
A computer program called the Web Bot has predicted that a cataclysmic event will devastate the planet in 2012. The program, that is created by Clif High and George Ure, who call themselves 'The Time Monks', purports to analyse 'Internet chatter' and shifts in 'emotional tension' to generate predictive reports of the future. But much like scaremongering reports in the foreign exchange industry these doomsday visions can be tossed into your mental trash can.
The Eurozone has already suffered enough widely documented problems, pre-2012, with 10-year bonds yielding close to 7.0% in Italy, Greece and Spain. These 3 countries have all undergone parliamentary upheavals over the past month and the latest one - Mariano Rajoy's election victory in Spain - was actually democratic. Although Rajoy is at the helm of a ship in stormy waters; a stagnant economy; 23% unemployment; tough austerity measures; and a public debt figure stretching to 67% of GDP; his strong majority victory seems to have won the trust of investors - at least momentarily anyway.
Rajoy enjoyed the biggest majority of a Spanish election in almost 30 years, with his People's Party winning 186 of the 350 seats in Parliament deposing the Socialists from their 8 years of power. Rajoy remains under no illusion of the task at hand commenting that: "Hard times lie ahead... We are going to govern the most delicate situation Spain has faced in 30 years."
Rajoy's pragmatic outlook on the tough timescale of his planned Spanish resurgence coupled with comments from Barclays Capital in London that his hard work must be complimented by bolder steps from the European Central Bank in order to contain the Spanish sovereign debt problem, suggest that confidence in the Euro may remain a short-lived venture.
The gains made on the back of the election by the Euro against the Pound may be reversed soon if the fickle reaction to new Prime Minister's in Greece and Italy are anything to go by. On the other hand, if the Web Bot is right in its predictions then 10-year bonds are meaningless and will never yield - cosmic hey!
Cutting Edge Current Affairs Courtesy of:
Josh Ferry Woodard
Cutting Edge Current Affairs | Equipping you with the Currency of Culture | Making Foreign Exchange Fun.
Read more on my blog @ Cultural Currency | Current Affairs
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Josh Ferry Woodard
Economics Article FeedFind More ArticlesSearchSimilar ArticlesThe Ongoing Plight in the EurozoneRecent ArticlesHow To Solve The Homeless SituationProgressivism Isn't Progress, VIIIHow Secure Is Your "Secure" Job?A True Comparison Of Increasing Debt Between Bush And Obama AdministrationsHow To Compete With ChinaWould Einstein Think Us Insane?What Will Happen If Greece Defaults?A Cluster of (Minor) ErrorsThe US Recovery Is Producing SurprisesA Sigh Of Relief For The Economic Status Of The USSubmitted On December 01, 2011. Viewed 16 times. Word count: 451.MLA Style Citation:Woodard, Josh F.".".1 Dec. 2011EzineArticles.com.26 Jan. 2012
Woodard, J. F. (2011, December 1). . Retrieved January 26, 2012, from http://ezinearticles.com/?Does-2012-Mark-the-End-of-the-World-or-Just-the-End-of-the-Eurozone?&id=6728205Chicago Style Citation:
Woodard, Josh F. "." EzineArticles.com. http://ezinearticles.com/?Does-2012-Mark-the-End-of-the-World-or-Just-the-End-of-the-Eurozone?&id=6728205
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