by Fred E. Foldvary

The Depression of 2008by fred E. FoldvaryThe Depression of 2008by fred E. FoldvarySecond edition, Sept. 18, 2007 Copyright 2007. All rights reserved. Permission to copy excerpts for publication is granted providedthat full credit (author, year, title, publisher, page numbers) is given and acopy of the publication is sent to the Gutenberg Press. ISBN 0-9603872-0-XThe Gutenberg PressPO Box 9597 Berkeley CA and depressionsThe economy as well as much of the global economy willvery likely fall into a depression in 2008. This booklet will explain whythere will be a recession and depression by the end of the decade of 2000-2010, and why the most probable year is 2008.

2 There are two causes of the business cycle. One is financial and the other is real. The financial cause is the expansion of money and credit by

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