Just read an article by turbulence, which is absorbed by Simon Johnson, the British-American economist. It is now Ronald A. Kurtz Professor of Entrepreneurship at the Sloan School of Management at MIT. He was also a professor of economics at Duke University Fuqua School of Commerce. From March 2007 to August 2008 he was chief economist of the International Monetary Fund. The following is from material that forms the basis of the evidence of Professor Johnson before the Senate Budget Committee has been made.

Despite all the statistics, think the one that the economic recovery is under way that could have a mix of hiding debt crisis in Europe. While small countries are most affected today, especially in Greece, which could easily be extended in the UK and thwart economic growth in Europe, which to weaken the euro, threatening economic growth in the world.

While some European efforts to minimize the disaster and debt of Greece to the detriment of other countries to continue to hold, it will be too little, too late. The International Monetary Fund is not considered able to play a strong role now. PIIGS group of nations, Portugal, Ireland, Italy, Greece and Spain will all be by the pressure of speculative efforts involved in the fight against their credit. To intervene because of the reluctance of their more powerful counterparts in Europe, the economic weaknesses PIIGS “are used by speculators.

Basically, these efforts have come from speculative trading on the market for credit default swaps. Sound familiar? The same procedure is reduced, that Lehman and AIG, to name just two. This market behavior is so opaque, it is difficult to judge exactly what transpiring, and general economic risks and the status of the participants, among other factors, the major banks and could melt into a full-on economic-European global catastrophe.

I quote Professor Johnson. “Another situation of Lehman / AIG is hiding somewhere, like on the European continent, most of the G7 (or G20) leaders slowly, see the risk,” and, as in America, medium stimulus almost all been drained, leaving little influence to stop the bleeding in case of disaster.

So while the boom times could be the next departure from the general state of the global economy is a fragile foundation on which to build. How it all plays is clearly uncertain. There are simply too many unknown factors and predict the future other than words in this case.

No matter how you cut, the prognosis is having to do with the economies of many countries around the world and risky. But the connections between the economy and their different effects on each other and the world economy as a whole is clear: we are all connected and inter-affected.