Samenvatting

The world is in the throes of the deepest economic depression since the 1930s. Worst is yet to come. The financial crisis has spread to the real economy on a global scale. A global recession combined with the current credit crunch is a rare, but a deadly cocktail. This will lead to a recession of unimaginable magnitude - a deflationary depression. This doom scenario is based on the conjuncture waves of the Russian economist Nikolai Dimitrievitsj Kondratieff (1892-1938) and the strong similarities between 1920-1929 and 1980-2000, both autumn seasons in the Kondratieff cycle. Soon it will become clear that all measures taken by governments have had only a little, temporary positive effect. The stock markets, housing markets and world economy will reach new depths in the coming decade. Social chaos will be the result. The history of the 1930s could serve as our guide here.