Tuesday, Jun 17, 2008
“BIS warns of Great Depression” is actually a year old already
bankingtimes: Central bank body warns of Great Depression
The Bank for International Settlements (BIS), the organisation that fosters cooperation between central banks, has warned that the credit crisis could lead world economies into a crash on a scale not seen since the 1930s.
In its latest quarterly report, the body points out that the Great Depression of the 1930s was not foreseen and that commentators on the financial turmoil, instigated by the US sub-prime mortgage crisis, may not have grasped the level of exposure that lies at its heart.
Posted by malct @ 12:57 PM (1943 views) Add Comment
3 Comments
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1. Colloboss said...
Are we to assume that a major global conflict is in the pipeline too, there is nothing worse than rich people becoming poor people when all is said and done, all this sounds so familiar just a repeating cycle of infinite stupidity.
2. wdbeast said...
It feels like Dr Who caught in a "time loop"
3. wdbeast said...
Is anybody else in this alternative dimension?