Sunday, March 08, 2009


Thanks to the Bank it's a crisis; in the eurozone it's a total catastrophe
As it is we have seen industrial production collapse in every region. The drops in January were: Japan (-31pc), Korea (-26pc), Russia (-16pc), Brazil (-15pc), Italy (-14pc), Germany (-12pc). Falls that took two years from late 1929 have been compressed into five months.

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