World Heading for a 'Depression', Gordon Brown

Gordon Brown appeared to acknowledge for the first time today that the world economy was heading for a 1930s-style "depression".

Mr Brown stumbled slightly over his words at Commons question time, just a week after admitting that Britain was facing a "deep" recession....

Read more Predicts World Depression

Source: timesonline

'Risk of a near-depression shouldn't be underestimated'...

At the World Economic Forum two years ago, Nouriel Roubini warned that record profits and bonuses were obscuring a “hard landing” to come. “I really disagree,” countered Jacob Frenkel, the American International Group Inc. vice chairman and former Israeli central banker.....

Read more Roubini: 'Risk of a near-depression shouldn't be underestimated'...

Source: bloomberg