Causes of the GFC - now more extreme

What caused the GFC? The Bank of International Settlements says it was because there was too much debt. Professor Warwick McKibbin: 'In a very real sense the global economy today looks very much like the global economy in 2006 – but worse. There has been a long period of low interest rates and a large build-up of public and private debt.' 'as interest rates rise, the distortions in the world economy built up over many years will begin

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