The tremendous economic collapse in 2008/2009 brought the world to the brink of extinction. Could it happen again?
Not sure about that kind of a ‘brink’, but yes, of course it could, as long as we tax payers tolerate the bailouts. From the fraudulent creation of the subprime market, no one was punished, no one went to jail, and billions were absorbed by taxpayers and innocent investors. Investors? Companies created AAA products that were actually junk and the rating agencies approved them! A MUST WATCH is the movie “The Big Short” – It’s on Netflix. The movie ends claiming that we – since 2015 – have created new and similar instruments again and thus are doomed to repeat.