depression

Tyche - We expect a Depression in the United States

Submitted by on

This is one frightening opinion.

From CNBC:

"We expect a depression in the United States. We expect a depression, very possibly, also in Europe," Hennecke said on "Worldwide Exchange."

The estimated $300 billion cost of the Fannie/Freddie bailout will probably be considered as a loss that the government will have to take, therefore passing it on to taxpayers, he explained.

"We already have $3 trillion of debt, as far as the U.S. government is concerned. These debt figures across the U.S. economy are rising very sharply."

UK Central Bank warns of Great Depression - Yes "D" word!

Submitted by on

Wow, either something is really awry or ....maybe our sky is falling event really is coming:

The Royal Bank of Scotland is warning of a global market crash.

Really from 2007, bit a fear mongering here:

Bankiing Times reports:

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.

Pages