So Jamie Dimon the CEO of JP Morgan Chase is predicting another recession on the scale of the last one in 2008. Dimon does not want to use the D word and especially the G.D word. But watch closely how Italy and Spain recover financially or not as they are the EU canary’s in the mine.
The housing bubble was created by Democrats Barney Frank and Chris Dodd when they pressured the banks to eliminate Red Lining, which fellow democrat Bloomberg blamed it on. The elimination of Glass Steagall didn’t help either! The Democrats then fixed the Great Recession by pushing the Fed to spend 4 trillion dollars on buying up mortgages. All of this will push the West into a G.D. Depression.
And that is all I’m going to say about that.