Royal Bank of Scotland Says Worst Economy Since Before Queen Victoria Was Crowned
from Washington’s Blog:
Leading British newspaper the Telegraph reports today:
Ministers today admitted Britain is facing “very, very grave difficulties” after figures showed the economy did not grow at all in 2012.
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Economists from the Royal Bank of Scotland said the last four years have produced the worst economic performance in a non post-war period since records started being collected in the 1830s.
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“It’s the worst economic performance since at least 1830, outside of post-war demobilisations,” he told The Daily Telegraph. “It’s worse than the 1920s, it’s worse than the Great Depression.”
If it weren’t for govt’s printing cheap money the whole fiat monetary system would have already collapsed. Since 2008 the world basically went into a depression. There are many in the EU that already in a Great Depression.
The scary thing is that it’s still has not collapsed. Because it will and it has to. I just hope the bastards (politicians and banksters) who have swindled the system are put in jail for their crimes.
I hope we’ll never see another CB again. The Federal Reserve has so devalued the US currency, it’s criminal what they have done. It’s more powerful than the POTUS.
Fuck the Brits and the Monarch. They’re part of the problem.
We are in the position we are now in primarily due to bankster and brokster greed and the greed and incompetence of our so-called “leaders”. These people are not leaders in any sense with which most of us are familiar. They are too busy feathering their own nests to worry much about what happens to the rest of us. Unfortunately, these people are parasites and then parasites expand in number, they kill the host and then both they and the host die. We are in an unsustainable economic situation that has caused and continues to cause severe structural damage to our economy, yet no one in power wants to really do anything that has even a remote chance of fixing it. Because of this, the US economy will collapse and when, not if, it does, it will take down the US bond market and the US dollar itself. We are sliding towards the abyss and all our leaders can do is point fingers, play politics, and tell us how great they are for bringing us along on this ride.
When the US collapses it will take the rest of the world with. My guess is, this is what China is hoping for as their gamble is to make the YUAN the world reserve currency.