1929 mk 2

I have blogged before here, here and here that the credit crunch is going to be more like a 1929 re-run.

It looks as though the IMF agree as they say that the credit crunch "has inflicted heavy damage on markets and the financial institutions at the core of the financial system". The IMF actually said "The financial market crisis that erupted in August 2007 has developed into the largest financial shock since the Great Depression"


It is good that someone agrees with me!