Letter Re: The BIS Issues a Global Economic Depression Warning, Points to China as Potential Trigger
James: UK’s Daily Telegraph has a warning from Bank of International Settlements (BIS) about danger of global economic depression. [JWR Adds: This was also featured by NewsMax in the US.] Here are some excerpts from the Daily Telegraph article: [begin quote] “The Bank for International Settlements [BIS], the world’s most prestigious financial body, has warned that years of loose monetary policy has fueled a dangerous credit bubble, leaving the global economy more vulnerable to another 1930s-style slump than generally understood… …The BIS said China may have repeated the disastrous errors made by Japan in the 1980s when Tokyo let rip …