IMF Fears the World’s Financial System is Even More Destructive Than in 2008

• IMF Fears the World’s Financial System is Even More Destructive Than in 2008
  by Ambrose Evans-Pritchard, https://www.telegraph.co.uk/
  The International Monetary Fund has presented us with a Gothic horror show.  The world’s financial system is more stretched, unstable, and dangerous than it was on the eve of the Lehman crisis.
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  Quantitative easing, zero interest rates, and financial repression across the board have pushed investors – and in the case of pension funds or life insurers, actually forced them – into taking on ever more risk. We have created a monster.
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  There are ‘amplification’ feedback loops and chain-reactions all over the place. Banks may be safer – though not in Europe or China – but excesses have migrated to a new nexus of shadow-lenders. Woe betide us if this tangle of hidden leverage is soon put to the test. …
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  read more.

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