CHAPTER 42––The Cousins Club Siegmund Warburg had the spark... (1947)
Citations (1)
- The Warburgs: The Twentieth-Century Odyssey of a Remarkable Jewish Family whole source · open book
In the early postwar years, he again pictured Western economies slouching toward Armageddon. After a New York visit in 1947, he told Fritz, “A real depression in the United States is just around the corner.”1 A few years later, he warned “be prepared for an international inflation wave … which may be on a scale comparable to the German inflation wave of 1921/2 (though not 1923!).”2 At first he despaired of American global leadership, then was heartened by the Marshall Plan and Jimmy Warburg’s activism for it. Admiring of the Soviet Union during the war, he had come to regard it as the chief bogeyman.
chapter: 42 - The Cousins Club