The Bank of International Settlements (BIS) is warning that the global economy could be on the brink of a major depression similar to the one that passed in the 1930s. The BIS said that years of loose monetary policy have fueled a dangerous credit bubble leaving the global economy more vulnerable to an economic catastrophe than is generally understood. In its 77th Annual Report for the financial year April 1, 2006-March 31, 2007 that was submitted to the BIS' annual general meeting held in Basel on June 24, the BIS - which one source described as "the ultimate bank of...