Direct quote from The Money Map press

Mark your calendar: On September 7, 2011 - world financial markets could implode.
On that day, Germany's highest court will decide if it's constitutionally legal for the German government to fork over billions in bailout money to Greece.
If the answer is no... then it's almost certain that the entire Eurozone will collapse like a deck of cards... The result? A massive financial crisis that would make the 2008 market meltdown look like child's play in comparison.
As you can imagine the most powerful decision makers and power brokers from Wall Street to Washington... and all around the world... are quickly preparing for a worst-case scenario. They want to be ready to act if and when this crisis unfolds.
should you be ready too?

Whats your take?

I believe the term "Global Markets" is inappropriate. We need de-coupling i.e Western, Eastern & African markets and each one be judged by its own underlying economic story. This blanket statement "Global Markets" is grossly misleading. IMHO.

When they say "global markets", trust me they don't think about Africa. Sure enough, we don't have sovreign debt crisises here but drought and food insecurity and low infrastructure. LoL!

When they add any African state to G7 to make G8 then I can be convinced that Africa is fully "globalised" OTW, they can languish in their self inflicted poverty as Africa proceeds in exploiting its vast potential. That's why KFC and all are in Kenya. They know where demand will emanate from next. Empires rise and fall, that's life and life goes on. New leaders are born too, like B.R.I.C.Africa.

@ Cde Monomotapa... I just wrote something in another trend, you should read it, it might help you! Someone has a valid discussion and you're feeling the page with pure Idiology! God help us

In my opinion and if you look at the history of the market for the past 60 yrs, there is a seemingly noticable bubble-bust every 10 to 14 yrs that blows the markets out of proportion. Credit crisis late 2006 to now, tech bubble-bust late 1990s, oil market bubble bust early to mid 80s and you can go back for years and look at it.

However, the difference between this and any other bubble bust is the underlying asset, house. The bright side is, the banks already have written off close to $20 billion in bad loans and another $20 billion will be written off this fourth quarter but unless another industry surface that is bubbling we might have to suffer a little longer.

I guess the world didnt end, banks fell only minimally!!
I guess QE3 is coming, you gotta love Benjamin Shalom Bernanke, if money had a face it would be Bernanke's, especially with the way he slightly raises his upper lip when talking
http://finance.yahoo.com...in&asset=&ccode=