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An interesting article from the British perspective.
Quote:
Ann Pettifor is a member of a select club — the seers who saw it all coming. Now the economist, who predicted the credit crunch as far back as 2003, believes that the worst is yet to come unless there is radical reform of the financial system.
Six years ago she parodied the International Monetary Fund’s annual economic forecast with her own — The Real World Economic Outlook. Then, in 2006, her book The Coming First World Debt Crisis, warned that rich countries were heading for a debt crisis that would overshadow anything seen in the developing world. Both were ridiculed.
With the British and world economies languishing in the worst recession since the Great Depression and with once-mighty banks reliant on government life support, she could be forgiven for being a little smug. Not a bit of it: “No, being Cassandra is not something I wish for. I hate this role of being a gloomer and doomer, as I’m an optimist by nature. But I am very pessimistic now.”
As much as I would love to believe that the economy is improving, I have to admit that the guy is probably right. I fear things will get much worse before they improve.
As much as I would love to believe that the economy is improving, I have to admit that the guy is probably right. I fear things will get much worse before they improve.
But the point he is making is that nothing has changed!
Bad behaviors were rewarded not punished. How can one not see that this will all happen again. Nothing has changed, Wall st fat cats will get fat again, they will continue to lie steal and cheat and continue to hold their hands out for bailouts when things go wrong.
I wonder if this would have been posted if the OP knew that Ann Pettifor is a lefty progressive. And just for the record, the club that she is a member of is not so exclusive as the article makes out. She was one of a number who were sounding alarms from late 2003 onward -- alarms that were all ignored by the Bush administration and its principal regulators and policy makers...
I wonder if this would have been posted if the OP knew that Ann Pettifor is a lefty progressive. And just for the record, the club that she is a member of is not so exclusive as the article makes out. She was one of a number who were sounding alarms from late 2003 onward -- alarms that were all ignored by the Bush administration and its principal regulators and policy makers...
I actually read the article...what difference does it make her political beliefs as to whether she is correct or not?
Unlike some here,I can take what information that is provided and do not need to run it through a special political filter.
You might also try reading my second post on this thread.
The Economist in the article is a woman with a name only an English person could have.....Ann Pettifor.
Sounds like a character from Peter Pan.
It is a good read and the woman is actually left leaning in her views.
Basically there needs to be an overhaul of the system NOT just propping it up to keep going a little longer.
Quote:
Originally Posted by saganista
I wonder if this would have been posted if the OP knew that Ann Pettifor is a lefty progressive. And just for the record, the club that she is a member of is not so exclusive as the article makes out. She was one of a number who were sounding alarms from late 2003 onward -- alarms that were all ignored by the Bush administration and its principal regulators and policy makers...
Yes, it seems the poster was aware. Maybe if you read before making knee jerk assumptions you would not look foolish and diminish your posts to useless.
Yes, it seems the poster was aware. Maybe if you read before making knee jerk assumptions you would not look foolish and diminish your posts to useless.
Saggy seems to be getting a lot more politically partisan and blind since I ordered him to ignore me.
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