-- The Philippines’ central bank is actually trying to inflate a credit bubble, which is very alarming and reminiscent of the pro-credit growth policies of the Greenspan Fed during the 2002 to 2007 credit bubble...expect the ultimate popping of the emerging markets bubble to cause another crisis that is similar to the 1997 Asian Financial Crisis, and there is a strong chance that it will be even worse this time due to the fact that more countries are involved (Latin America, China, and Africa), and because the global economy is in a much weaker state now than it was during the booming late-1990s. forbes/sites/jessecolombo/2013/11/21/heres-why-the-philippines-economic-miracle-is-really-a-bubble-in-disguise/
Posted on: Sat, 23 Nov 2013 02:26:06 +0000
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