Prominent establishment economist William White warns “More dangers now than 2007”

Wednesday, September 13, 2017
By Paul Martin

By: Michael Kosares
GoldSeek.com
Wednesday, 13 September 2017

First a quick background check on William White so we know whether or not to grant his opinions more weight and status than the average analyst, this from an older, but still functional, Economist article titled The curious case of Willliam White (September, 2012):

“Most recently, we have William White, a brilliant Canadian economist who used to do research at the Bank of England and the BIS before taking over the Economic Development and Review Committee at the OECD. He is not, in other words, a nut who hides in the woods with gold bricks and canned food. Moreover, he (along with his colleague Claudio Borio), presented one of the earliest and most thoughtful warnings of the financial crisis back in 2003. Anyone with a brain ought to take him seriously, especially when he bucks the conventional wisdom.”

Overlooking the out-of-place “gold bricks and canned food” comment, it pretty much tells us that William White’s opinions should be taken seriously. It is not often that an economist of his stature goes off the reservation.

White, as hinted in the Economist profile, has consistently warned that the global economy stands at a precipice – that essentially the 2007 crisis was not an end but a beginning. If that stance sounds familiar, it should. It falls in line with the fourth turning analysis covered here in previous posts. Neil Howe, the author of The Fourth Turning, calls the 2007 crisis the catalyst for the protracted fourth turning now in progress and scheduled to end, by his estimate, sometime in the 2030s. (Please see “Historical inevitability and gold and silver ownership“)

White renews that warning in a Bloomberg interview on Monday (fittingly September 11) under the banner OECD warns “More dangers now than in 2007.” In that six minute interview, White keenly and concisely outlines the bind in which central bank find themselves and the depth of the problem that we need to guard against in our own investment plans. We recommend you take the time to watch it.

He concludes with a warning –

“We have to be cautions. We are in a very tough place… Be careful of what you do and be very cautions of the side effects because you might not like it.”

The Rest…HERE

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