Announcement
Collapse
No announcement yet.
The British Goverment trys something ..."New"
Collapse
X
-
Re: The British Goverment trys something ..."New"
Ambrose only thinks it's 1931
Bad news: we're back to 1931. Good news: it's not 1933 yet
Barack Obama inherits an economy already contracting at an annual rate of 6pc, much like the mid-Depression year of 1931 (-6.4pc), writes Ambrose Evans-Pritchard
26 Jan 2009
...
It buys time. But it does not solve the deeper problem, which is that a West addicted to Ponzi credit has put off the day of reckoning with ever more extreme monetary policy with each downturn, stealing prosperity from the future.
Wasn't there a government official who was telling the truth and people couldn't belive it, I'm not sure, was it Darling?
Comment
Comment