Warnings

June 2007: BIS warns of Great Depression dangers from credit spree

By Ambrose Evans-Pritchard
Published: 12:01AM BST 25 Jun 2007

“The Bank for International Settlements, the world’s most prestigious financial body, has warned that years of loose monetary policy has fuelled a dangerous credit bubble, leaving the global economy more vulnerable to another 1930s-style slump than generally understood.”

BIS again in 2008:  BIS slams central banks, warns of worse crunch to come

“In a pointed attack on the US Federal Reserve, it said central banks would not find it easy to “clean up” once property bubbles have burst.”

The Man Nobody Wanted to Hear

“William White predicted the approaching financial crisis years before 2007’s subprime meltdown. But central bankers preferred to listen to his great rival Alan Greenspan instead, with devastating consequences for the global economy.”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: