Director of Australian Reserve Bank: Global Economic Train Wreck Coming
July 2nd, 2011Via: Sydney Morning Herald:
THE global economy is facing ”a slow-motion train wreck” with Greece only the first nation to be hit, Reserve Bank director Warwick McKibbin has told a Melbourne conference.
Referring to the most recent global economic crisis as a mere ”blip”, he said the coming crisis could undo the mining boom and bring on inflation of the kind not seen since the 1970s.
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