by The Daily Bell:
O’Neill’s BRICs Risk Hitting Wall Threatening G-20 Growth … Even Jim O’Neill is asking whether the BRICs need reinforcing 11 years after he coined the term to describe the world’s future powerhouse economies. O’Neill, chairman of Goldman Sachs Asset Management, says his thesis that Brazil, Russia, India and China would together increasingly buoy the global economy faces “a more challenging test” as investors dump the countries’ stocks … Leaders attending next week’s Group of 20 summit in Mexico are already expressing concern, with Brazilian President Dilma Rousseff warning June 4 that emerging markets can’t carry the weight of the world on their shoulders. Rich-nation policy makers “are so wrapped up in their own problems they’re praying some of this weakness is just temporary in the BRICs,” London-based O’Neill, 55, said in a telephone interview. “If it’s not, then it’s pretty worrying.” – Bloomberg
Dominant Social Theme: It’s pretty bad. But maybe, somehow it will get better
Free-Market Analysis: There is surely a power elite that is trying to drive the world into depression. We would tend to believe it is succeeding. This latest squawk from Goldman Sachs is testimony to that.
Read More @ TheDailyBell.com
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