Little by little, the word “depression” is creeping into the press. Yesterday, GE’s top man warned that the downturn could turn into a depression. And Britain’s Prime Minister, Gordon Brown, let slip the d-word during a parliamentary session.
The TIMES of London reports:
“Gordon Brown appeared to acknowledge for the first time today that the world economy was heading for a 1930s-style ‘depression…
February 9th, 2009 | Bill Bonner | 7 comments | Continued