Is the World Economy 'A House of Cards'?

By: Ian Campbell | Thu, Aug 16, 2012
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Why Read: Because this is an interesting summary of one person's view of why 'a physicist turned risk consultant' sees the global economic system as a 'house of cards waiting to be blown down' - and a summary 'in one place' to think hard about.

Commentary: TEOTWAWKI is an unpronounceable acronym that stands for 'the end of the world as we know it'. David Korowicz, an Irish risk consultant - described as 'a thoughtful, deeply knowledgeable, highly analytical, and caring man' - worries, for the following reasons, that we may be headed for the ultimate global economic crash which will not be reversible. He apparently focuses on seven things:

I suggest you read the referenced article and, importantly, focus on the conclusion reached by its author summarized Mr. Korowicz's concerns. That conclusion is, simply stated, that 'things are not as bad as all that', and that the wealthy minority who depend on the economy likely will succeed in averting a collapse in at least the 'medium term'. I consider the referenced article to be a real 'think for yourself' one - and recommend it to you.

Topical Reference: How cascading failures in the global finance system could mean TEOTWAWKI, from Energy Bulletin, Kurt Cobb, August 5, 2012 - reading time 4 minutes.



Ian Campbell

Author: Ian Campbell

Ian R. Campbell, FCA, FCBV
Business Transition Simplified

Through his website and his Business Transition & Valuation Review newsletter Ian R. Campbell shares his perspectives on business transition, business valuation and world economic and financial markets influences on those two topics. A recognized business valuation and transition authority, he founded Toronto based Campbell Valuation Partners Limited (1976). He currently is working to bring his business valuation and transition experience to both business owners and their advisors in our new economic, business and financial markets normal.

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