Over My Shoulder

Are the central banks signalling Credit Crunch Mk2?

September 16, 2011

Quick read from London: "Central banks don’t do that sort of thing [provide massive liquidity to banks] unless something is up; and something is most certainly up. In the eurozone, an unfolding Greek tragedy is careering towards its final, brutal act. And, in our joined-up, global economy that spells trouble everywhere, with the odds shortening by the day on a return to recession. So, are the central banks signalling Credit Crunch Mk 2 and a rerun of all those hilarious jokes (What’s the difference between an investment banker and a large pizza? A pizza can feed a family of four)? Well, yes and no. They could be signalling something worse."

Download - Financial_crisis__central_banks_do_not_take_this_kind_of_action_unless_somet.pdf