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Economics

Central Bankers Admit a Crash is Likely

Written by Joe Scudder

The alternative media has known that we are building to another recession, but central bankers are now admitting it too.

The Bank for International Settlements (BIS) consists of prominent central bankers. They are not only warning of a recession but are using rather fearsome rhetoric to describe how it will happen—i.e. “with a vengeance.” While many Americans are optimistic because of the Donald Trump victory, it is probable that the stupid money-printing schemes of the Federal Reserve and other central banks are going to yield painful consequences.

The Independent reports, “Great recession fears as bankers warn next global crash could arrive ‘with a vengeance’

A new financial crisis is brewing in the emerging economies and it could hit “with a vengeance”, an influential group of central bankers has warned.

Emerging markets such as China are showing the same signs that their economies are overheating as the US and the UK demonstrated before the financial crisis of 2007-08, according to the annual report of the Bank for International Settlements (BIS).

Claudio Borio, the head of the BIS monetary and economic department, said a new recession could come “with a vengeance” and “the end may come to resemble more closely a financial boom gone wrong”.

Read the whole story at The Independent.

The views expressed in this opinion article are solely those of their author and are not necessarily either shared or endorsed by EagleRising.com


About the author

Joe Scudder

Joe Scudder is the "nom de plume" (or "nom de guerre") of a fifty-ish-year-old writer and stroke survivor. He lives in St Louis with his wife and still-at-home children. He has been a freelance writer and occasional political activist since the early nineties. He describes his politics as Tolkienesque.

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