Monday, March 16, 2009

Bank of England comes clean about the Depression

Finally the bank has admitted that the conditions are ripe for the 30s style depression when there was massive unemployment and deflation and what do our governments do but print money to get us out Weimar republic anyone?

They tried this in the 1930s and it failed miserably, it was only the war which primed our economy, we got taken off the Gold standard in 1931 and we've never been able to return to it

This is the beginning of the end

Link here to the Telegraph story

1 comment:

  1. Which was flagged by some of us over a year ago?

    ReplyDelete