[Marxism] Guardian: Fears grow of repeat of 2008 financial crash as investors run for cover
shalva.eliava at outlook.com
Thu Jan 21 06:45:29 MST 2016
"William White, a former chief economist of the Bank for International Settlements (BIS), the central bankers club, who now chairs the OECD’s review committee warned that central bankers had “used up all their ammunition”.
“The situation is worse than it was in 2007. Our macroeconomic ammunition to fight downturns is essentially all used up. Debts have continued to build up over the last eight years and they have reached such levels in every part of the world that they have become a potent cause for mischief,” he said on the eve of the event."
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