Central
banks in the Western world have set the scene for an “even bigger
version” of the 2007-2008 global financial crisis, Societe
Generale’s bearish strategist Albert Edwards has claimed.
In a
research note on Thursday, Edwards said that China’s intervention
to stabilize its volatile stock market was part of a larger global
story, in which “rock bottom” interest rates and large fiscal
deficits in the western world were pushing the global economy towards
a fall.
“QE
(quantitative easing) will be stepped up to such a pace that you will
hear the roar of the printing presses from Mars,” Edwards said.
“I have
not one scintilla of doubt that the western central banks have set us
up for an even bigger version of the 2008 Great Financial Crisis.”
…Given his
forecast step up in money-printing, Edwards said that gold, which
tends to perform well during periods of high inflation, was a
“must-have” safe-haven investment.
Source:
Armstrong predicts that a
sovereign debt crisis will start to unfold on a global level after
October 1, 2015 – a major pi turning point that his computer
model forecasted many years ago.
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Increasing global debt levels
is a fact - next global crisis ahead
22 countries are already in
debt crisis; a further 71 could be soon
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