Central bank body warns of Great Depression

[wirenut]

http://www.bankingtimes.co.uk/09062008-central-bank-body-warns-of-great-depression/

 

[danberkeley]

according to the article, "body points out that the Great Depression of the 1930s was not foreseen." that's not necessarily true. many Austrian economists foresaw the consequences of the rapid expansion then rapid contraction of the money supply during the two decades before the Great Depression.

 

[ItsTime]

according to the article, "body points out that the Great Depression of the 1930s was not foreseen." that's not necessarily true. many Austrian economists foresaw the consequences of the rapid expansion then rapid contraction of the money supply during the two decades before the Great Depression.

this is why we need to speak up now so if another depression happens they can not rewrite history saying no one saw this coming.

 

[buffalokid777]

It also raises concerns about the Chinese economy and questions whether China may be repeating mistakes made by Japan, with its so called bubble economy of the late 1980s.

The above quote is from the article from the OP.....

MY Reply......

I don't think China is in a bubble like Japan.....

China has essentially slave labor and a totalitarian government to keep the slaves in their place.....as long as the Chineese government houses and feeds them.....China has a labor force that can't be matched by any other country.........

So I would disagree China is entering a bubble like Japan of the late 1980's......Japan was not a totalitarian government like China nor had the amount of labor China has access to.......

 

[IPSecure]

Greatly Depressed People Warn of Central Bank...