2001 Forecast

In the autumn of 2001 the British Journal Geophilos published my forecast of the global financial crisis in an article called “The Coming Kondratieff Crash: Rent-seeking, income distribution & the business cycle“.

But Ben Bernanke believes he can remedy the economic depression by printing money. Good luck with that one, Ben!

“Paper money eventually returns to its intrinsic value: zero.”

- Voltaire, 1729

“Nowadays society is at the mercy of all kinds of would-be specialists, economists, businessmen, political commentators, even theologians, all contributing to the general chaos of thought, not unlike the proliferation of quacks on the fringe of medicine, without real knowledge of how the economy works naturally if left to itself.”

- EB Donohue, “Rescuing the Economy”, 1984