That’s the latest from Simon Johnson and Peter Boone in “The Doomsday Cycle Turns: Who’s Next?” Who is next? America, Japan, the euro zone are the triple threat next in the line of fire, in danger of collapsing, thanks to a doomsday conspiracy where global “political and financial systems have aligned to build these dangers rather than suppress them.”
Three years ago, the first warning: “The Doomsday Cycle.” Since then Simon Johnson, former IMF chief economist, co-authored two bestsellers, “13 Bankers: The Wall Street Takeover and the Next Financial Meltdown,” and recently, “White House Burning.” Peter Boone is a research associate at the London School of Economics, which published their doomsday warnings.
In the first they warned: “Over the last 30 years, we have built a financial system that threatens to topple our global economic order, we have let an unsustainable and crazy ‘doomsday cycle’ infiltrate our economic system.” This doomsday “cycle will not run forever … The destructive power of the down-cycle will overwhelm the restorative ability of the government, just like it did in 1929-31.”
