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Sunday, 25 November 2018

Ten years on > and the Next Crash

It was ten years ago:
Futures Forum: "Ten years after the failure of Lehman Brothers brought the global financial system to the brink of collapse we still have not addressed the fundamental problem: the nature of how finance operates."

Many of us got our fingers burnt:
Futures Forum: UK public finance: councils building a credit bubble >>> In October 2008, UK councils lost heavily from speculative investments. Could this happen again?
Futures Forum: Ten years on: the housing crisis, who's to blame and whether we've learnt from 2008

A lot of the confusion has been over the role of banks and the realities around money:
Futures Forum: Most MPs do not know that 97% of money comes into being when a commercial bank extends a loan.
Futures Forum: Positive money @ Radio 4 and Switzerland

The Adam Smith Institute back in February published a paper on the issues:
Monetary Policy After The Crash: Lessons Learned — Adam Smith Institute

This evening's Analysis on Radio 4 has also looked at where we are now:

The Next Crash

What could cause a future financial crash? 
Ian Goldin, professor of globalisation and development at Oxford University, talks to some of the world's leading economists about whether we have learnt lessons from the 2008 financial crash and whether countries are now better prepared to meet the next crisis. 
Or are we condemned to another economic meltdown, perhaps even more severe, which would provide new fuel to the fires of populism? 
A decade ago, the world was taken by surprise. Will it be again? 
Featuring contributions from the IMF's Managing Director, Christine Lagarde, Lord Nick Stern, Professor Peter Piot, Pascal Lamy and Jeffrey Sachs.

BBC Radio 4 - Analysis, The Next Crash
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