{"id":16770,"date":"2016-01-21T12:52:30","date_gmt":"2016-01-21T17:52:30","guid":{"rendered":"http:\/\/olduvai.ca\/?p=16770"},"modified":"2016-01-21T12:52:30","modified_gmt":"2016-01-21T17:52:30","slug":"top-economist-who-predicted-the-2008-crash-confirms-what-alternative-financial-sites-have-been-saying-for-a-decade","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=16770","title":{"rendered":"Top Economist \u2013 Who Predicted the 2008 Crash \u2013 Confirms What Alternative Financial Sites Have Been Saying for a Decade"},"content":{"rendered":"

Top Economist \u2013 Who Predicted the 2008 Crash \u2013 Confirms What Alternative Financial Sites Have Been Saying for a Decade<\/a><\/h3>\n
And Wise People Have Been Saying for Thousands of Years<\/strong><\/div>\n
\n

William White is one of the world\u2019s top economists.<\/p>\n

He was the head economist for the Bank for International Settlements (BIS) \u2013 the world\u2019s most prestigious financial institution, called the \u201ccentral banks\u2019 central bank \u2013 comprised of the\u00a0world\u2019s central banks<\/a>.\u00a0 He is now the chief economist for OECD, made up of most of the world\u2019s\u00a0richest and most powerful countries<\/a>.<\/p>\n

As chief economist for BIS, White\u00a0predicted the 2008 crash<\/a>.<\/p>\n

While the mainstream financial media like CNBC has been\u00a0trumpeting fake, happy news<\/a>\u00a0for many years, White confirmed yesterday what the best alternative financial sites have said for a decade,\u00a0telling<\/a>\u00a0the Telegraph (at the World Economic Forum in Davos):<\/p>\n

The global financial system has become dangerously unstable [he\u2019s\u00a0right<\/a>] and faces an avalanche of bankruptcies that will test social and political stability \u2026. [Uh<\/a>\u2013huh<\/a>]<\/p>\n

\u201cThe situation is worse than it was in 2007. [Accurate<\/a>] Our macroeconomic ammunition to fight downturns is essentially all used up\u201d \u2026. [True<\/a>]<\/p>\n

***<\/p>\n

\u201cDebts have continued to build up over the last eight years and they have reached such levels in every part of the world that they have become a potent cause for mischief,\u201d he said.\u00a0 [Indeed<\/a>]<\/p>\n

\u201cIt will become obvious in the next recession that many of these debts will never be serviced or repaid, and this will be uncomfortable for a lot of people who think they own assets that are worth something\u201d [Yup<\/a>]<\/p>\n

***<\/p>\n

\u201cThe only question is whether we are able to look reality in the eye and face what is coming in an orderly fashion, or whether it will be disorderly. Debt jubilees have been going on for 5,000 years, as far back as the Sumerians.\u201d [Exactly!<\/a>]<\/p>\n

***<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Top Economist \u2013 Who Predicted the 2008 Crash \u2013 Confirms What Alternative Financial Sites Have Been Saying for a Decade And Wise People Have Been Saying for Thousands of Years William White is one of the world\u2019s top economists. He was the head economist for the Bank for International Settlements (BIS) \u2013 the world\u2019s most […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1733,1269,193,2164,5510,11873,889],"class_list":["post-16770","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-for-international-settlements","tag-bis","tag-davos","tag-oecd","tag-washingtons-blog","tag-william-white","tag-world-economic-forum"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16770"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16770\/revisions"}],"predecessor-version":[{"id":16771,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16770\/revisions\/16771"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}