With hyperinflated sectors across multiple asset markets, the next crash could be so severe that it prompts a restructuring of global finance.
Stock prices are nervously high, bond and real estate prices are under downward pressure, cryptocurrency assets have sustained falls and global debt is at record levels. One common factor behind these coinciding and worrying trends is that much of the world is living on excess credit. Payment is now due.
Another is how markets have bloated as financial systems fail to properly channel savings into good investments.
This all suggests the coming correction in financial markets will be more “shocking” (in all senses of that word) than previous cases.
