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Stephen King Warns “The Second Great Depression Only Postponed, Not Avoided”

Saturday, May 16, 2015 13:58

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Reading like his name-sake’s horror novels, HSBC’s Chief Economist Stephen King unleashes a torrent of truthiness about the Titanic-like economic ocean liner that is headed for an iceberg except this fragile ship doesn’t have lifeboats. As ValueWalk’s Mark Melin notes, what is different with this economic recovery is that, unlike most, “the recovery phase has not marked a return to economic growth,” nor has it ushered in a return to policy “normality.” From King’s point of view, the normal recovery “typically allows policymakers to rebuild their stocks of ammunition, providing them with room to fight the next economic battle.” Problem is, under the regime of quantitative easing, the central bank central planners are now out of bullets as the economic recovery and the stock bull market is long in the tooth.

Source: http://silveristhenew.com/2015/05/16/stephen-king-warns-the-second-great-depression-only-postponed-not-avoided/

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