"This bright new system, this practice in the United States, this practice in the United Kingdom and elsewhere, has broken down. Growth in the economy in this decade will be the slowest of any decade since the Great Depression, right in the middle of all this financial innovation. It is the most complicated financial crisis I have ever experienced, and I have experienced a few...Changes are going to have to be made'' to the global financial system."
-Paul Volcker, former Federal Reserve Chair, 1979-87
If you won't listen to crazy guys like me and some of the other doomsday bloggers...I think Volcker has a pretty good resume. The bandwagon continues to grow. The comparisons to the Great Depression will grow as well.
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