Last updated on February 18, 2012
The global economy is running haywire: youngsters are demonstrating for the last three weeks on domination of Wall Street in the American economy, young Spaniards have been demosntrating for the last half of 2011 because of high unemployment amongst then reaching 40%, the Portuguese are ready to pounce on their government against austerity measures that will be introduced in that country, Italy has been having a chronical budget deficit and national debt above stipulated Masstricht levels, the Greeks have been demonstrating and fighting the their govt for austerity measures as a result of economic mismanagement by various govts., France and Germany are running the risk of having their rating reduced because their banks have long positions in Greek, Spanish and Portugues financial instruments. Then the derivatives industry has got a ticking bomb for us: the top four global financial institutions have between them US$600 trillion in outstanding derivatives. If one of them fails to honour its obligations, then ….. In this program we present the prospectives for a global crunch that might be awaiting the World. We go on to discuss how it is likely to happen and debate as to when it can take place. We will try answer quesyions like: how will it look like? what will the the consequences? is it avoidable? what are the consequences for the Zambian econmy? You are invited to call in and give your opinion and forecasts.