Wednesday, January 20, 2016

William White, international banker, predicts another 2008-like crash for entire world economy, based on unstable debt outside the West

William White, of the OECD, believes that the world economy has become dangerously unstable, with a likely wave of bankruptcies, according to an article by David Scuitt in an Australian business journal Jan. 16, here. He seems to take aim at the “rent-seeking” class of people who own assets (equities and bonds) that they actually think are “worth something”.

Other nations seems to be repeating the behavior that the US saw in 2008.

The UK Telegraph has a version of his theory written up by Ambrose Pritchard-Evans .

He does think that FDR-style infrastructure projects, producing real wealth, are in order.  How about tending to the security for the world’s power grids.
White had predicted the Lehman crash back in 2008.

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