Wednesday, October 15, 2008
The Real – Human – Cost of the Bailout.
At least $45 trillion will now be wiped off people's wealth and trigger a decade-long depression. Fred Harrison will release his forecast today at a Press conference at the Foreign Press Association, London. His estimate is based on conservative assumptions, it therefore under-estimates the true scale of the losses that are destroying banks and peoples savings around the globe. “By using the methodology that enabled me to forecast the current crisis back in 1997 – a full 10 years before the credit crunch crushed the banks – I am left in no doubt that the assets of home-owners and investors will be savaged.”