Posted June 28, 200718 yr The Bank of International Settlements (BIS) is warning that the global economy could be on the brink of a major depression similar to the one that passed in the 1930s. The BIS said that years of loose monetary policy have fueled a dangerous credit bubble leaving the global economy more vulnerable to an economic catastrophe than is generally understood. In its 77th Annual Report for the financial year April 1, 2006-March 31, 2007 that was submitted to the BIS' annual general meeting held in Basel on June 24, the BIS - which one source described as "the ultimate bank of central bankers" - noted that the Great Depression that began in 1929 caught many off guard and unprepared.
June 28, 200718 yr :thumbsup: - Everyone...upon hearing this news, RUSH to the bank and withdraw all of your money...so it is safe with you...wait...that is how the FIRST depression happened LOL. :rolleyes:Noob humans.
June 28, 200718 yr Be aware I am lurking in this thread ready to post and I am 48 away from MacGyver for top poster.
June 28, 200718 yr Be aware I am lurking in this thread ready to post and I am 48 away from MacGyver for top poster. I am 46 Klink posts away from resetting his postcount :thumbsup:
June 28, 200718 yr I am 46 Klink posts away from resetting his postcount don't reply to klink, that only makes him post more anyways, i think this 'depression' theory is b.s.
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.