Global Financial Crisis

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Financial 'Perfect Storm' win real Cycles & Global Economy win real Goldberg: 35th Century Tech. win real
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Date:	01-12-09
Host:	George Noory
Guests:	David Smick, Dr. Bruce Goldberg

Appearing during the first three hours, financial advisor David Smick offered analysis of the global financial predicament. The current economic crisis goes well beyond the subprime loan/mortgage implosion-- it reveals fundamental problems in our financial architecture, and a serious lack of trust in the institutions themselves, he said. We could be looking at a "perfect storm" of further financial trouble, with the bursting of as many as eight other bubbles, including the commercial real estate market, adding up to a staggering loss of $200 trillion, he warned.

We allowed the leveraging of financial institutions to get out of hand-- government regulators were "asleep at the switch," he declared. European countries and other nations are likely in a worse situation than America since they are largely export dependent, and exports are dropping off, Smick noted, adding that European banks are heavily exposed to Emerging Market debt. The civil unrest and chaos in Greece, fueled by unemployed youth, could spread to Spain, Italy and France, he added.

Innovation and risk taking are drying up because of the lack of capital, Smick pointed out. Obama's stimulus plan could end up creating a "debt bomb" and may not employ many of the laid off white collar workers, he continued. Banks in the U.S. may eventually have to be nationalized to deal with the crisis, he suggested.

Life in the 35th Century

Hypnotherapist Dr. Bruce Goldberg, appearing in the last hour, shared what he sees in store for life in the 35th century. Among the breakthroughs: a food simulator which can prepare any meal as directed by human thought, teleportation devices in homes and offices, to instantly arrive at local destinations, and "information pills" that can pass on the knowledge of books.

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Bumper Music

Bumper music from Monday January 12, 2009

1.	Midnight Express (The Chase) Giorgio Moroder	2.	How Long Ace	3.	Black Cow Steely Dan
4.	Jessica Allman Brothers Band	5.	Sunglasses at Night Corey Hart	6.	Big Log Robert Plant
7.	Taken In Mike & the Mechanics	8.	Black Magic Woman Santana	9.	Saved by Zero The Fixx
10.	Hold Your Head Up Argent	11.	Time Has Come Today Chambers Brothers	12.	Voices Russ Ballard
13.	Who Can it Be Now? Men at Work	14.	Does Anybody Really Know What Time It Is? Chicago	15.	Major Tom (Coming Home) Peter Schilling
16.	Inca Dance Cusco