vrijdag 8 juli 2011

Overdose: The Next Financial Crisis

When the world's financial bubble blew, the solution was to lower  interest rates and pump trillions of dollars into the sick banking  system. "The solution is the problem, that's why we had a problem in the  first place". 

For Economics Nobel laureate Vernon Smith, the Catch 22  is self-evident. But interest rates have been at rock bottom for years,  and governments are running out of fuel to feed the economy. "The  governments can save the banks, but who can save the governments?"  Forecasts predict all countries' debt will reach 100% of GDP by next  year. Greece and Iceland have already crumbled, who will be next? Read more.

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