John Ward – Crash2: No Way Out For The Big Five – & That Spells Disaster For The Emerging Economies – 16 August 2014

ONE OF THE FEW MEN WHO CALLED THE LAST CRASH WARNS OF THE NEXT ONE’S IMMINENCE

Reserve Bank of India Governor Raghuram Rajan (left) warned last Wednesday that the global economy bears an uncannily terrifying resemblance to the early 1930s, with advanced economies trying to pull out of the Great Recession at each other’s expense. The only difference this time around is that competitive monetary policy easing has replaced competitive currency devaluation as the favoured scam for playing a zero-sum game.

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