"These are dangerous times — far more so than many now recognise" - Martin Wolf

Martin Wolf warns of the high risk investors and the economy faces: Valuations of risky assets are, in many cases, stretched and balance sheet vulnerability is pandemic, as the (IMF's) Global Financial Stability Report ( https://www.imf.org/en/Publications/WEO/Issues/2018/09/24/world-economic-outlook-october-2018 )makes plain. Just a small shift in global financial conditions managed to damage some emerging economies. But, as the financial stability report points out, the aggregate debt of households, non-financial companies and governments in countries “with systemically important financial sectors now stands at $167tn, or over 250 per cent of aggregate gross domestic product”, compared w

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