Bank of Korea indicates global hyperinflation and record rise in rates all over the world – a global depression imminent
Joe Weinman
Jul. 1, 2008

According to the central bank of Korea, inflation will accelerate to the fastest pace in a decade this year, propelled by record fuel and food prices that will also hinder household spending and business investment.

Economic growth will ease to 4.6 percent this year from 5 percent in 2007, the central bank also forecast, highlighting the challenge facing Asian policy makers as they balance slowing expansions against a pickup in inflation.

This just confirms that Asia is plunging into deep recession with hyperinflation. This will eventually turn into a global depression driven by deflation. Asian economies that survive on dumping goods and services into US markets will be the worst hit.

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