This is Ambrose's first article for two months and it looks like a good one, too.
The verdict is in. The Fed's emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed.
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Yields on two-year US Treasuries plummeted to 1.63pc on Friday in a flight to safety, foretelling financial winter.
Looks like Ambrose is scared!
"For the first time since this Greek tragedy began, I am now really frightened."
For more:
By Ambrose Evans-Pritchard,
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/03/ccview103.xml
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