October 10, 2009

'Depression is coming'

(From the Washington Post via LB Now Ltd.)

THE global economy is still in for rougher times ahead as the underlying problems that caused the recession have been merely “papered over.” This was the assessment on Thursday of Louis Boulanger, CFA, founder and director of LB Now Ltd.

“The problems at the source of the crisis still exist. There’s been fiscal stimulus and there’s been a lot of monetary stimulus. The US Treasury added a lot of money in the system as well as the central bank [Federal Reserve]. (Click BusinessMirror for the rest.)

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