Global Elites Speak!

One of Global Finance's Biggest Doctors Warns: The World Economy Is About to Get Very Sick

Unless banks and governments switch gears from tax cuts to addressing inequality, we may be in for a lengthy economic downturn soon.

When Claudio Borio speaks, the big bankers and investors, the economics profession, and senior policymakers listen quite carefully—even if his sentiments don’t reach the shores of the popular media. Borio, the chief economist for the Bank for International Settlements (BIS), the central bankers’ central bank, recently remarked on the fragility of the global economy, and suggested that we were on the verge of a significant relapse similar to the global crash experienced 10 years ago. Among the parallels he perceives: the proliferation of “collateralized loan obligations (CLOs), which are ‘close cousins’ of the infamous instruments known as collateralized debt obligations, or CDOs, and securities backed by residential mortgages,” the prevalence of which helped to crater the credit system in 2008.

DYI:  The Bank of International Settlements located in Basel Switzerland is the world’s central bank for all of the world’s central banks within their grasp.  This super central bank is controlled by the top tier elites and when their mouth piece senior economist speaks we need to listen.  Their turn-around regarding income inequality is NOT based upon seeing moral errors but simply declining profits.  Don’t expect for those who labor for a living having the upper hand.  Simply put enough of a push up of living standard to keep the masses from revolting and the elites firmly in control.

DYI