Nothing comes into existence without a force to create it. Our financial world and its many ups and downs is no exception to this rule. Sure, current U.S. economic expansion is on a roll. “Goldman Sachs says there’s a 90 percent chance this expansion will break the prior record set during the 1990s tech boom…
DATELINE: March 23, 2013. The New York Times headline blared: “Cyprus Makes Plan to Seize Portion of High-Level Deposits.” The story details how the island nation devised a raid on civilian checking and savings accounts in an attempt to avoid a national banking collapse.
Yale University Economics Professor and Nobel Laureate Robert Shiller warns that no amount of regulation can really protect the world from the next financial crisis because human nature is unpredictable. “The international regulatory framework has changed for the better since 2008, but no such changes can anticipate all the kinds of change in narratives that…
“This gags me.” So said Elizabeth Warren in response to a Quora user, who asked, “What do you think are the real reasons that no Wall Street executives have been prosecuted for fraud as a result of the 2008 financial crisis?” Her answer, which she expounds on more thoroughly in her report Rigged Justice, is, “Weak…
Allianz Chief Economic Adviser Mohamed El-Erian said Tuesday the world economy is at the end of the era of borrowing growth and profits from the future in the form of easy monetary policies. “Either we validate the financial asset prices and growth faster, or alternatively we will slip into a global recession with financial disorder,”…
The S&P 500 has begun 2016 with its worst performance ever. This has prompted Wall Street apologists to come out in full force and try to explain why the chaos in global currencies and equities will not be a repeat of 2008. Nor do they want investors to believe this environment is commensurate with the…
The City of London’s most vocal “bear” has warned that the world is heading for a financial crisis as severe as the crash of 2008-09 that could prompt the collapse of the eurozone. Albert Edwards, strategist at the bank Société Générale, said the west was about to be hit by a wave of deflation from…
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