Albert Edwards, strategist at the bank Société Générale, said the west was about to be hit by a wave of deflation from emerging market economies and that central banks were unaware of the disaster about to hit them. His comments came as analysts at Royal Bank of Scotland urged investors to “sell everything” ahead of an imminent stock market crash.
“Developments in the global economy will push the US back into recession,” Edwards told an investment conference in London. “The financial crisis will reawaken. It will be every bit as bad as in 2008-09 and it will turn very ugly indeed.”…The Guardian
Beware the great 2016 financial crisis, warns leading City pessimist
Larry Elliott, Economics editor
3 comments:
it's like they think there's no cultural backstop except Central Banks
no one's heard of the REST of human governments?
we're supposed to use those parts only to support militaries and wars?
When all your ideology has is NeoLiberalism ... every problem looks like a balance sheet quandry.
In Double Entry Bookkeeping, there's no ledger entry for creation, innovation, adaptation or evolution (but those things occur, nonetheless)
all this from a 0.25% rise in the discount rate?
"If true, then one flap of a confidence fairy's wings can be enough to alter the course of world economics forever"
[with apologies to Lorenz & weatherpeople]
Predicting the future is a tough business. Just ask the gypsy lady in the tent.
The future is comprised of black swans and impromptu visits to Saint Peter.
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