The Indian central bank chief who saw the financial crisis coming thinks the world is now facing Great Depression-era problems .. Raghuram Rajan*: “Are we now moving into the territory of trying to produce growth out of nowhere? We are in fact shifting growth from each other, rather than creating growth. Of course, there is past history of this during the Great Depression when we got into competitive devaluation .. We have to become more aware of the spill-over effects of our actions and the rules of the game that we have — of what is allowed and what is not allowed — needs to be revisited.” .. it’s financial repression ..