I predicted the last financial crisis – now soaring global debt levels pose risk of another

This phrase may have religious roots, but there is no better way to describe the dominant sect in economics today than as wilfully blind. A decade after the 2007-08 crisis, most still repeat the mantra that it could not have been predicted.

Nonsense. The data that showed what would cause the crisis, and arguments by non-mainstream economists that one would occur, were available before it hit. There was a runaway bubble in asset markets caused by too much credit being created by banks.

 

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