THE SECOND GREAT DEPRESSION : A wild expansion in government and personal borrowing has fuelled credit growth in the period 1995-2005 setting many English-speaking and other Western economies for a serious downturn....the Great Recession starting 2005-2010.
"Any wholesale retrenchment of Beijing's US dollar reserves would lead to a run on the US dollar and send interest rates up, in a greater economic disaster than the one the world is witnessing now."
...and that is precisely what is going to happen and why these are still the "good times".
A quote from today's The Australian:
ReplyDelete"Any wholesale retrenchment of Beijing's US dollar reserves would lead to a run on the US dollar and send interest rates up, in a greater economic disaster than the one the world is witnessing now."
...and that is precisely what is going to happen and why these are still the "good times".