When the bottom fell out of the economy in 2008-2009 we all were shocked and surprised. How could it happen? Why did it happen? Since then there have been many theories and finger pointing, but nothing has been done to fix the problems that led up to the last crash. What about debt? It is higher than ever. What about sub prime loans? They are back in vogue. What about high margin transactions? Back at record levels. What about financial institutions being too big and involved in too many conflicting areas? They are even bigger (and fewer) now. What about the derivatives market? That market has grown so large that estimates can barely be made of the size of the market. The reality is that the world is right back to where it was when the last crash happened. Only this time, things are worse. There are no reserves. There are no financial or governmental entities that are in a financial position to bail the world out. In other words, we are screwed if (and when) things take a turn for the worse. Wow, people don't learn from their mistakes do they.
What do you think?
For more see: http://theeconomiccollapseblog.com/archives/exactly-like-7-years-ago-2014-is-turning-out-to-be-eerily-similar-to-2007