Pimco’s El-Erian Sees Synchronized Global Slowdown!

[youtube=http://www.youtube.com/watch?feature=player_embedded&v=xURH4e55co0]

• Global slowdown or global collapse? We will know soon!
  –
  “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
  – Ludwig von Mises, Austrian Economist

end