Posted on 09/14/2009 10:16:34 PM PDT by Kartographer
The world has not tackled the problems at the heart of the economic downturn and is likely to slip back into recession, according to one of the few mainstream economists who predicted the financial crisis.
Speaking at the Sibos conference in Hong Kong on Monday, William White, the highly-respected former chief economist at the Bank for International Settlements, also warned that government actions to help the economy in the short run may be sowing the seeds for future crises.
(Excerpt) Read more at ft.com ...
Wow, nobody said that before! /S
Yep, I don’t see much chance of a recovery until after the 2010 or maybe the 2012 elections.
The Democrap’s entire financial philosophy dictates continuing economic downturn (that is Bush’s fault).
As long as the DemonRats are in power we are in for a rocky road.
The no growth, anti business, anti Capitalism policies of the 0 solution are a guaranteed path to collapse. Abaddon is coming out of the pit. Get ready.
I should be an economist. I’ve saw both downturns well before their time.
Yeah Abbadon is probably pissed that the billionaires aren’t making enough money...
“And behold the thrid seal was broken and camels flew threw the eyes of many needles and the heralds proclaimed that the creator hated the poor and loved the rich.”
The economy will start to recover when we hear the words “Obama is no longer President” That will restore confidence and the recovery will begin.
Funny how crappy things have been since the Democrats took control of congress.
No, that will happen when either the House or Senate becomes a different party. Mercy, the voters were really stupid this last election cycle - but they will make up for it in 2010.
After that, we can then vote out the Pretender in Chief...
That too :)
After the ‘job-less recovery’ comes the ‘business-less economy’, thanks Democrats!!!
Especially if they pass the Cap n Trade bill.
Any business that uses carbon based energy may as well close their doors because they will not be able to compete internationally.
read
Talking to a Car Dealer he said after Clunker program it has slow to a trickle and says next thing it dies.
Except that BO is manipulating the markets.
When will inflation kick in?
I see it like a flight from Point A to Point B. To get there from here you have to fly over a mountain range with the lowest peak 10,000 feet. You start out your trip at 20,000 feet and all is well. But then you have a series of problems and one after another they cost you altitude and control of your aircraft. Suddenly you find yourself in a spin! You manage to correct the spin, stop the altitude loss and then get busy celebrating your snatching of victory from the jaws of defeat. But wait, your altitude now is only 8,000 feet. True, your in full control of the aircraft, all is well on board and the celebrations goes on at full strength. And everything will be just fine until you reach the mountains, at which time you will discover you are considerably below the lowest peak. Uh oh.
That’s how I see us. We are sailing along with no chance whatsoever of getting over the peaks ahead. A $2 trillion deficit for just this year alone. What can possibly go wrong?
I guess you think the poor are going to be better off now. Abaddon has a bridge to sell you.
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