The strategist says he expects the crisis to be even more severe than than what occurred from 2007 to 2009.
Here’s an excerpt from a July 30 CNBC article:
Central banks in the Western world have set the scene for an "even bigger version" of the 2007-2008 global financial crisis, Societe Generale's bearish strategist Albert Edwards has claimed.
In a research note on [July 29], Edwards said that China's intervention to stabilize its volatile stock market was part of a larger global story, in which "rock bottom" interest rates and large fiscal deficits in the western world were pushing the global economy towards a fall.
"QE (quantitative easing) will be stepped up to such a pace that you will hear the roar of the printing presses from Mars," Edwards said.
"I have not one scintilla of doubt that the western central banks have set us up for an even bigger version of the 2008 Great Financial Crisis."
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