As we trudge through the news of the economy everyday, it just seems like it will never recover. Even with all the reports of a boost in the economy, No one really sees it. I own a retail store and campground and I dont see it. The only thing I see an increase in is my campground and no, I am not talking about camping, I am talking about people giving up their houses and moving into my campground full time. So yes we might just see the great depression upon us!
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NaturalNews/The
risk of a new depression - a sustained, severe recession - has struck
fear into the heart of markets and driven monetary policy in developed
economies since the current financial crisis began.
"We're in a very unfortunate position to be here," Richard Duncan, author of The New Depression, warned on CNBC's "Squawk Box Europe" Monday.
"When we broke the link between money and gold, this removed all constraints on credit creation. This explosion of credit created the world we live in, but it now seems that credit cannot expand any further because the private sector is incapable of repaying the debt it has already, and if credit begins to contract, there's a very real danger that we will collapse into a new Great Depression," he argued.
Read the full story here: http://finance.yahoo.com/news/close-great-depression-142400188.html
"We're in a very unfortunate position to be here," Richard Duncan, author of The New Depression, warned on CNBC's "Squawk Box Europe" Monday.
"When we broke the link between money and gold, this removed all constraints on credit creation. This explosion of credit created the world we live in, but it now seems that credit cannot expand any further because the private sector is incapable of repaying the debt it has already, and if credit begins to contract, there's a very real danger that we will collapse into a new Great Depression," he argued.
Read the full story here: http://finance.yahoo.com/news/close-great-depression-142400188.html
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