So Brown is either lying or incredibly incompetent.
Everybody who does not buy into corporate media brainwashing and has only the slightest interest in economics and politics saw this crisis coming. In fact it was very difficult not to see it.
In 1994 we were taught in university that there would most probably be a crisis coming around 2008 – 2010, by 1999 I knew that there would be a ‘staged’ world economic crisis. Long before 9/11 I told people that gold is ‘the’ investment for the future and I am definitely not a prophet.
Ron Paul, Peter Schiff, Jim Rogers, Max Keiser, Paul Craig Roberts and Marc Faber have warned years ago about this crisis and told people about possible solutions to the problems we are facing right now.
The U.K. and the U.S. are broke.
Britain’s recession could be the worst since the 1930s, an expert warned today in the wake of Gordon Brown’s admission that he hadn’t seen it coming.
As the pound dropped to a new low, economics boffins confirmed that the massive downturn was already bigger than anyone had predicted.
Charles Davis of the Centre for Economics and Business Research told The Telegraph that the contraction of the economy ‘supports our view that in 2009 the economy is set for the steepest contractions in the post-war era, with a fall in the region of 3 per cent year-on-year’.
Mr Davis added: “Today’s figures are the final nail in the coffin for Prime Minister Gordon Brown’s claim to have ‘ended boom and bust.”
His sentiments were echoed by Roger Bootle, managing director of Capital Economics, I think there’s a very good chance this recession will be the worst since the 1930s. I suspect the economy could shrink by 6 per cent from last year to the end of next year – and that might not be the end.”
As the recession took a firmer grip yesterday, it emerged that the pound had closed at its lowest level in 24 years – sliding by more than three quarters against the U.S. dollar to $1.3668.