| Subject: | Rogoff: "Horrible" China Crisis May Trigger Regional Slump |
|---|---|
| Date: | Wed, 24 Feb 2010 03:54:50 -0800 |
| From: | Jas Jain |
Rogoff: "Horrible" China Crisis May Trigger Regional Slump
This was reported on Bloomberg. Kenneth Rogoff is among a rare breed of born-and-bred American economists who understands my words of warning for the past dozen years: "It is the debt, stupid!" He, with a coauthor, recently published a book about financial crises caused by debt and leverage over the last eight centuries. Some of us cranks had read a part of that history long time ago. Plus, some of us cranks do understand debt and its consequences. It is definitely not a rocket science.
I think that China's crisis would trigger lot more than "regional slump." It would simply confirm the global Greater Depression, made in America in 1990s, that has been working its way slowly and would explode at some point is time over the next few years. There is no reason to wait for the whole world to acknowledge the Greater Depression before one puts his house in order. Better safe than sorry.
Jas
Kirk's Notes:
The above are the opinions of Jas Jain, not Kirk Lindstrom. Jas has given me permission to document his email alerts here. I often disagree with Mr Jain, especially his use of language to insult others, but I respect his observations.
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