His findings, in a paper titled The Financial Crisis of 2015: An Avoidable History, sound a cautionary tale.
The 24-page study outlines how banks, unwilling to accept the lower returns on equity that result from requirements to carry higher levels of capital, could inadvertently be fuelling a new asset bubble by chasing high returns in commodities or emerging markets – mostly through Asia.
Regulators, by focusing on curbing the risky behaviour of banks, may be driving risk-taking into unregulated funds that pose a danger to the system, the study finds.
The shadow banking system has been singled out as providing the conditions that inflated the US housing bubble. This quickly evolved into a global crisis.
2015? Where was he in 2008, 2009, 2010 and 2011?
We’ll be lucky if we can make it to 2012.
Obama’s pals will make sure it happens earlier than 2015.
http://www.mrc.org/bmi/commentary/2011/Unreported_Soros_Event_Aims_to_Remake_Entire_Global_Economy.html
http://globaleconomicwarfare.com/2011/03/30/the-invisible-gorilla.aspx
All the “tools” that the Fed contains to combat the collapse can only stall it, not contain it. They’re just buying time until the new leftist-Leninist-Marxist government can surely hold on to their power through the crisis duration. That’s all.