Perspectives on the global economic changes

Austin · Post by **Austin** » 16 Jun 2016 22:54

^^ Nice Interview there

Emerging-Stock Market Slump Is the Beginning of the End David Stockman

Neshant · Post by **Neshant** » 17 Jun 2016 04:37

What's going to happen after the US election is predictable.

Its exactly what the Japanese PM is running around the world asking for. i.e. more global "fiscal stimulus" aka running up national debt & govt spending it wastefully. Half of it landing up in the pockets of private banks & other cronies.

All this is a proven failure. But they will do it anyway.

Neshant · Post by **Neshant** » 17 Jun 2016 09:13

Austin wrote:Nice Interview , The Next Crash & Fears Of A New Collapse 2016 with Mohamed El Erian

I didn't get a thing out of that interview. I wasted my time listening to it.

Its so obvious that trillions from the productive economy is being sucked up by a hoard of useless banking goons and that is the reason for the bad state of the economy. Yet he dances around the issue still wondering how/why it is that despite trillions being spent & printed by govt that the economy is still in a rut. Finally he gets around to identifying the cause and then proceeds to an even more idiotic suggestion - which is govt should spend more money on infrastructure like building roads. As if building roads is some unthought of game-changer (and that too built with more debt being taken out).

These guys have spent so long producing nothing of value, they really don't have a clue what powers an economy. Innovation, entrepreneurship, savings, non-debauchery of the monetary system, no crony capitalism and bailouts to crooks producing zero, no by-passing of the justice system through bribery & corruption and certainly no useless, middleman "industry" like banking sucking wealth from the productive economy. That's the real stimulus the economy needs.

Austin · Post by **Austin** » 17 Jun 2016 09:29

Neshant wrote: Its exactly what the Japanese PM is running around the world asking for. i.e. more global "fiscal stimulus" aka running up national debt & govt spending it wastefully. Half of it landing up in the pockets of private banks & other cronies.

All this is a proven failure. But they will do it anyway.

So you expect another QE i.e fiscal stimulus or some other kind of stimulus ?

Japan's public debt is around 250 % of GDP and owned by its own people , why not just make it to 500 % instead of asking the world for fiscal stimulus after all they have their own printing press and own people to consume it

Neshant · Post by **Neshant** » 18 Jun 2016 03:44

I would think there is a limit as to how much debauchery of a country's finances can be carried out without the whole system falling apart.

Were it not so, no country would ever face economic problems.

Simply keep "stimulating" and running up bigger and bigger debts ad infinitum and then fire up the printing press to dissolve those debts.

What the central banking goons are peddling is to have all nations get in on the act of debauchery and putting in place a nefarious system of compulsory wealth confiscation from which they profit.

The only good news here is their theories are beginning to sound more and more idiotic not only to the people at large but even to themselves.

ramana · Post by **ramana** » 21 Jun 2016 05:41

Pros and Cons of BREXIT for India?
Any pointers?

Austin · Post by **Austin** » 21 Jun 2016 09:04

Why there is disparity on Money Supply for say India and China , India M2 is ~ 78 % of GDP and China M2 is ~ 190 % of GDP , considering the vast disparity on nominal GDP between the two nation , What does High Money Supply for China Indicates ?

http://data.worldbank.org/indicator/FM.LBL.MQMY.GD.ZS

Satya_anveshi · Post by **Satya_anveshi** » 22 Jun 2016 07:52

Brexit drama is like a constipation, a way for shit to remind the body of its importance. Britain will not exit and will remain within EU to continue to keep it constipated.

These freeloaders will need to find another host to parasite on before they leave the current host (EU).

My guess is that the voting will be rigged in favor of 'Remain' by slim margin to keep this lever alive for later use.

For India, it is better they be in EU else we get undue focus from the freeloaders and their machinations. I hope we wizened up to not allow the repeat.

Rajan's exit email was timed to deliberately make India/RBI feel his absence during the time of potential chaos. His advise will hardly be needed.

In case, just in case, wonder does happen and voting is not rigged, and the free loaders choose to be on their own then it means US/UK will engage in deep fk of EU but resulting geopolitical/geo-economic scenarios are going to be interesting. We will have to take the chocolate soldier's (Petro Puroshenko) words seriously that 2017 will be tumultuous and many maps will be re-drawn.

I hope that brexit wins and bring EU closer to Eurasia.

-edited to mean EU in place of Euro.

vera_k · Post by **vera_k** » 22 Jun 2016 08:01

^^
Britain has never been in the Euro

Satya_anveshi · Post by **Satya_anveshi** » 22 Jun 2016 08:06

sorry have used Euro to mean EU.

vera_k · Post by **vera_k** » 22 Jun 2016 08:07

ramana wrote:Pros and Cons of BREXIT for India?
Any pointers?

Better for India if BREXIT happens I think as the UK then is a beach head close to the European mainland. For instance, EU threats to impose a pollution tax on airline overflights would no longer be effective once Heathrow was taken out of the equation. Plus there is more in common between the UK and India due to the British Empire than between India and the EU.

Satya_anveshi · Post by **Satya_anveshi** » 22 Jun 2016 08:29

What Is ‘Brexit’? A Look at the Debate and Its Wider Meaning - June 20, 2016

1. What is Brexit?

A portmanteau of the words “Britain” and “exit,” it is the nickname for a British exit of the European Union after the June 23 referendum asking voters: “Should the United Kingdom remain a member of the European Union or leave the European Union?”
The debate leading up to this week’s vote is playing out, however, as a broader choice over what national values to prioritize.

Pro-Brexit advocates have framed leaving the European Union as necessary to protect, or perhaps restore, the country’s identity: its culture, independence and place in the world. This argument is often expressed by opposition to immigration.

“Remain” supporters typically argue that staying in the union is better for the British economy and that concerns about migration and other issues are not important enough to outweigh the economic consequences of leaving.

The debate has also cut along the country’s famously deep class divides: Voters with less money and education are more likely to support leaving the union. Robert Tombs, a historian at the University of Cambridge, said this stems from a sense of abandonment among poor and working-class Britons. The Brexit debate has become a vessel for anti-establishment and anti-elite feelings directed at the leaders of mainstream British political parties as much as at Europe.

Neither side is defending the European Union as a meaningful or admirable institution. In part, this speaks to particularly British views that the rest of Europe is somehow alien.

This also reflects a Euroskepticism, or opposition to the European Union, rising across the bloc as the union veers from crisis to crisis. In this way, the Brexit vote is a particularly noticeable manifestation of a sense that European institutions have fallen short of their lofty promises and have created burdens, such as absorbing migrants or bailing out troubled economies, that many Europeans are tired of bearing.

2. What is the case for leaving?

A lot is implied in one of the campaign’s slogans, “Take control.” Britain’s loss of full authority over its economic policies and regulations has so rankled many of the country’s citizens that it has spawned an entire genre of urban legends over the years, called “Euromyths.”

These stories usually feature some aspect of classically British culture that is supposedly under threat. One claimed that double-decker buses were to be banned, while another suggested that fish and chips would have to be written in Latin on menus. The subtext is barely subliminal at all: Gray-suited Brussels bureaucrats are the enemy of Britishness, a threat to Britain’s identity in all its deep-fried, double-decker glory.

“There are two things at play here,” said Brian Klaas, a fellow in comparative politics at the London School of Economics. “One is the cultural nostalgia for Britain’s lost place in the world. This idea that Britain used to matter, Britain used to be able to do things without having to consult Brussels.”

Then there is immigration. “There’s this feeling that we’re losing our cultural identity and our national identity,” Mr. Klaas said, “at the same time that there’s this influx of people who are willing to work for low wages.”

A 2013 British Social Attitudes Survey found that more than three-quarters of Britons want the country’s immigration policies reduced, and about 56 percent said they should be reduced “a lot.”

Though Britain has accepted a small number of refugees relative to other European countries, British tabloids have implied the country is being overrun by an uncontrollable “swarm” or “tide” of foreigners. Labor migration, particularly from Eastern Europe, has often been painted as economically threatening.

Terrence G. Peterson, a fellow at Stanford University’s Center for International Security and Cooperation, said there is “a sense that Britain has lost something, that it has lost its sovereignty.”

“It can’t close its borders in the way that it wants,” he said. “It can’t have the economic policies it chooses.”

3. What is the case for staying?

What is most striking about the “Remain” campaign is what it has not done: countered the arguments for leaving. Rather than defending the European Union or immigration as good for Britain, the campaign warns that leaving would be disastrous for the British economy.

Most economists agree with that claim. Europe is Britain’s most important export market and its greatest source of foreign direct investment, and union membership has been crucial to establishing London as a global financial center. A British exit would jeopardize that status — and the high-paying jobs that come with it.

The mere fact of the referendum has already affected the economy; the pound is at its lowest valuation in seven years.

But it is telling that those who want to stay, including Prime Minister David Cameron and the leadership of Britain’s two main political parties, have not expressed much enthusiasm for the European Union itself. Instead, their arguments are focused narrowly on British self-interest. Their message is not that membership in the bloc is an exciting opportunity so much as a basic economic necessity.

That is a sign of how unpopular the union has become throughout Britain, according Mr. Klaas, partly because of bad public relations. “If you get funding from Europe for a road, you take credit,” he said. “But if you can’t get funding, it’s Europe’s fault.”

4. Why are Britons so wary of Europe?

Spend enough time in the United Kingdom, and you will hear people refer to “the Continent.” Travel agency windows advertise flights and package tours “to Europe,” as if it were someplace else.

As Mr. Peterson of Stanford put it, “Britain has always kept Europe at a distance, even when they were favorable to the E.U.”

Britain initially refused to join the European Economic Community when it was founded in 1957. It became a member in 1973, only to have a crisis of confidence that led to a similar exit referendum two years later. (The pro-Europe campaign won that round with 67 percent of the vote.)

A strain of populist opposition to Europe remained in the decades that followed. Britain has never joined other countries in using the euro as currency, for example, or participated in the union’s Schengen Area open-borders agreement.

5. O.K., so why now?

Recent challenges within the European Union have given Euroskepticism new urgency.

“There wouldn’t be a referendum without the eurozone crisis{of course what is british identity if not for exploiting the weakness of others} , which made the E.U. look badly organized and dysfunctional,” said Charles Grant, the director of the Centre for European Reform, a London-based research group. “The refugee crisis hasn’t helped either. It made the E.U. seem out of control.”

Mr. Peterson said the deeper issue is that the union remains an unfinished project, which allowed these economic and migration crises to become so severe.

The European Union never developed centralized political institutions strong enough to manage its diverse constituent countries. Individual nations have little incentive to make sacrifices for the common good, and European unity is weakest when it is needed most.

6. What will happen to Britain if it leaves?

Projections differ significantly over the precise economic effect, but there is a consensus that leaving would hurt Britain financially, at least in the short term.

Without access to the union’s open markets, Britain would probably lose trade and investment. And while the influx of migrant workers has created anxiety over British culture and identity, losing that labor force could lead to lower productivity, slower economic growth and decreased job opportunities, a study by Britain’s National Institute of Economic and Social Research found.

A Brexit could also quickly spawn, err, a “Scexit.” Nicola Sturgeon, the first minister of Scotland, has said that if Britain votes to leave the European Union, she will hold a new referendum in which Scots could vote to exit Britain — and then rejoin the union as an independent nation.

Scotland’s voters rejected such a measure by nearly 10 points in 2014, but analysts say a Brexit could change that because the Scots overwhelmingly support European Union membership.

If Scotland were to leave, that could dramatically alter Britain’s political character, as Scotland’s members of Parliament lean to the left.

7. What are the wider ramifications?

Britain makes up about a sixth of the European Union’s economy. A Brexit, Mr. Klaas said, “would be akin to California and Florida being lopped off the U.S. economy.”

That destabilization could affect the United States’ economy: Last week, the Federal Reserve in Washington cited the possibility of a Brexit as a reason to not raise interest rates.

There could be political consequences, as well. If Britain leaves the union, that could give momentum to the nationalistic, anti-migrant message and policies of populist, far-right parties that are already rising across Europe.

The implications for the European project itself are unclear, but that uncertainty may be the greatest threat to the union, which has helped bring Europe 70 years of peace and is already under growing strain.

It also undermines trust between member states, whose commitments seem less reliable every time one of them toys with leaving.

“Members of the eurozone will realize that things can come unstuck,” Mr. Grant said. “Entropy can happen.”

In his view, Germany already has too much power in the bloc, and a British exit would make that imbalance more pronounced. It would undermine the European Union’s legitimacy and make it more difficult to respond to internal crises, like the Greek economy or the migrant influx, and to outside security threats, he said.

Mr. Klaas said, “A more unified Europe is a powerful counterbalance to people like Vladimir Putin.”

“Putin has stayed silent on this,” he said of the Russian leader. “But he’s probably silently cheering the pro-Brexit side.” {any person who knows the current world order and its flaws would}

Austin · Post by **Austin** » 23 Jun 2016 09:33

This Is What Yellen Told Congress When Asked If The Fed Is Boosting The Stock Market

http://www.zerohedge.com/news/2016-06-2 ... ock-market

Austin · Post by **Austin** » 23 Jun 2016 13:16

Janet Yellen Doesn't Know Murphy's Law

Austin · Post by **Austin** » 24 Jun 2016 09:19

US Banks in Stronger Position to Lend During Major Recession

03:04 24.06.2016(updated 06:53 24.06.2016) Get short URL
318601

US banks have been expanding their accumulations of capital and credit-worthiness, putting them in better shape to withstand the financial pressures of any major economic downturn, the US Federal Reserve Board said in a press release.

WASHINGTON (Sputnik) — Since 2009, the 33 banks have added more than $700 billion in common equity capital, the Federal Reserve noted.

"The nation's largest bank holding companies continue to build their capital levels and improve their credit quality, strengthening their ability to lend to households and businesses during a severe recession."

The latest series of stress tests supervised by the Federal Reserve indicated that loan losses at the 33 participating bank holding companies would total $385 billion during the nine financial quarters tested, the release continued.

"The ‘severely adverse’ scenario features a severe global recession with the domestic unemployment rate rising five percentage points, accompanied by a heightened period of financial stress, and negative yields for short-term US Treasury securities."

Austin · Post by **Austin** » 24 Jun 2016 11:07

Looks like entire Western World MSM media are shocked with Breexit Vote.

Ammanpour blames it on refugee crisis and why Assad needs to be bombed to solve the Syria crisis which interviewing foreign secretary on Bri-exit only to be counted by him saying the refuges coming from Syria is small part compared to refueege coming from Asia and other places

Austin · Post by **Austin** » 24 Jun 2016 21:54

This is the worst,' Alan Greenspan says of British break from EU

http://www.cnbc.com/2016/06/24/alan-gre ... eberg.html

Former Fed Chairman Alan Greenspan told CNBC on Friday the U.K. vote to leave the European Union ushers in a period that's even worse than the darkest days of October 1987.

Britons voted by 51.9 percent to quit the 28-country union, shocking markets that had priced in a win for the remain camp.

"This is the worst period, I recall since I've been in public service," Greenspan said on "Squawk on the Street."

"There's nothing like it, including the crisis — remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away."

The former Fed chairman said that the root of the "British problem is far more widespread." He said the result of the referendum will "almost surely" lead to the Scottish National Party trying to "resurrect Scottish Independence."

Greenspan said the "euro currency is the immediate problem." While the euro and the euro zone were major steps in a movement toward European political integration, "it's failing," he said.

"Brexit is not the end of the set of problems, which I always thought were going to start with the euro because the euro is a very serious problem in that the southern part of the euro zone is being funded by the northern part and the European Central Bank," Greenspan said.

"This is the worst period, I recall since I've been in public service. There's nothing like it, including the crisis — remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away." -Alan Greenspan, speaking on CNBC about the Brexit vote

Even with that in mind, the European Central Bank is limited in what it can do because these fundamental problems like the stagnation of real incomes don't have easy solutions, Greenspan told CNBC.

"There's a certain amount that monetary policy can do, but our problem is fundamentally fiscal," he said, adding that this is true in the United States as well as "every major country in Europe."

Part of the problem is that the "developed countries are all aging very rapidly," which is leading to a higher ratio of government spending in the form of entitlements, Greenspan said.

The 90-year-old Greenspan presided over the Federal Reserve for 19 years, starting with the administration of President Ronald Reagan through that of George W. Bush.

Christopher Sidor · Post by **Christopher Sidor** » 25 Jun 2016 03:41

Austin wrote:Looks like entire Western World MSM media are shocked with Breexit Vote.

Ammanpour blames it on refugee crisis and why Assad needs to be bombed to solve the Syria crisis which interviewing foreign secretary on Bri-exit only to be counted by him saying the refuges coming from Syria is small part compared to refueege coming from Asia and other places

. I think West should do it. Create another Iraq by overthrowing Assad and watch IS/Desh get reborn. This would give a flip to the sectarian conflict from levanant to the Persian gulf. Go for it. After all Iraq was just a mishap. They would have definitely learned from their mistake. Go Ammanpour, kick Assad out. Go France kick Allawites out of power in Syria.

Austin · Post by **Austin** » 25 Jun 2016 16:34

Christopher Sidor wrote:. I think West should do it. Create another Iraq by overthrowing Assad and watch IS/Desh get reborn. This would give a flip to the sectarian conflict from levanant to the Persian gulf. Go for it. After all Iraq was just a mishap. They would have definitely learned from their mistake. Go Ammanpour, kick Assad out. Go France kick Allawites out of power in Syria.

Response here http://forums.bharat-rakshak.com/viewto ... 3#p2034383

Austin · Post by **Austin** » 25 Jun 2016 16:35

Global Markets Lose $2 Trillion As Britain Votes To Exit EU

http://profit.ndtv.com/news/global-mark ... ome-latest

Austin · Post by **Austin** » 25 Jun 2016 17:48

Bravo Brexit! - David Stockman

http://davidstockmanscontracorner.com/bravo-brexit/

Neshant · Post by **Neshant** » 26 Jun 2016 10:14

Blatant attempt by private bank scam artists (aka central bank cronies) to manipulate the markets to profit private banksters caught on the wrong side of the Brexit trade. Note how the language is couched in terminology like "support financial markets" as if it's for the good of the nation when all it amounts to is market rigging to profit their cronies who made bad leveraged bets.

The power over the money printing press and it's role in distorting contracts in the free market and profiting cronies at the expense of others is what capitalism inevitably degenerates into.

------

Central banks ready to cooperate after Brexit result

https://www.yahoo.com/news/central-bank ... -container

ZURICH (Reuters) - Central banks are ready to cooperate to support financial stability in the wake of Britain's vote to leave the European Union, the Bank for International Settlements said on Saturday.

Central bankers gathered at the organization's global economy meeting in Switzerland discussed the implications of the referendum.

"Governors endorsed the contingency measures put in place by the Bank of England and emphasized the preparedness of central banks to support the proper functioning of financial markets," said Agustín Carstens, chairman of the global economy meeting.

"Central banks will carefully monitor market functioning and stability, and cooperate closely.”

Neshant · Post by **Neshant** » 26 Jun 2016 11:16

Banksters are already plotting how to reverse the Brexit vote

Singha · Post by **Singha** » 26 Jun 2016 17:58

http://www.ndtv.com/india-news/tripuras ... eststories

photos - road to tripura badly damaged by rain, 1000 trucks stuck
railways down for 45 days due to damage in NC hills

Austin · Post by **Austin** » 26 Jun 2016 18:33

Neshant wrote:Banksters are already plotting how to reverse the Brexit vote

Watching CNN that'seems to be the trend how to reverse bre- exit , looks like US is more worried of brexit than UK itself.

Janet gets good reason to not drive the interest rate for 1-2 yrs now, she shld be happy

Austin · Post by **Austin** » 26 Jun 2016 22:09

Keiser Report: Your Special Brexit Coctail (E932)

Neshant · Post by **Neshant** » 27 Jun 2016 02:16

Brexit is a non-event.
A lot of EU bureaucrats will become surplus to requirements and be out of a job.
I suspect that's one reason they are desperate to make the process of exit complicated.

shyam · Post by **shyam** » 27 Jun 2016 08:00

It became non-event because...

Carney Pledges $345 Billion to Fund First Line of Brexit Defense

Compare these with the circus Hank Paulson had to do for TARP.

Neshant · Post by **Neshant** » 28 Jun 2016 02:34

Liquidity and swap agreements by central banks is nothing more than a fancy name for banker bailouts & bonuses. These fools were caught on the wrong side of the Brexit trade with leveraged bets and now want to make good on their gambling bets by offloading the loss onto the public in the name of financial stability.

However had the vote gone their way, they would have pocketed the profits.

Austin · Post by **Austin** » 28 Jun 2016 11:42

Neshant wrote:Liquidity and swap agreements by central banks is nothing more than a fancy name for banker bailouts & bonuses. These fools were caught on the wrong side of the Brexit trade with leveraged bets and now want to make good on their gambling bets by offloading the loss onto the public in the name of financial stability.

However had the vote gone their way, they would have pocketed the profits.

+ 1 , Bankers can get it both ways , Tails I win Heads you loose

Austin · Post by **Austin** » 28 Jun 2016 22:02

Rickards -" Weighs In On Brexit And Economic Collapse , Death Of Money (JULY 2016)"

Austin · Post by **Austin** » 15 Aug 2016 08:48

FORBES: Alan Greenspan And Marc Faber Agree The Fed Has Reached Zero Hour

Christopher Sidor · Post by **Christopher Sidor** » 15 Aug 2016 13:43

God dammit, it is good to be back and have this forum up and running.

Happy Independence day Bharat.

The coming quarters are going to be very interesting. Will it be a repeat of 2008 or will it be a repeat of 2000 dot-com bubble or will it be a repeat of 1997 Asian Financial crisis? And will we learn the correct lessons or will the lessons be half learned?

Austin · Post by **Austin** » 15 Aug 2016 17:36

John Williams-World Class Crash Coming No Matter What

https://youtu.be/4xAjR7-QHZg

video thing does not work ,so posting the link

SaiK · Post by **SaiK** » 16 Aug 2016 19:08

ramana wrote:ToothAu, Read this
https://t.co/8hZCwfgsnB
World Affairs Council of San Francisco had podcast of interview on 15 August 2016. Try to look it up. Also someone post this on Forum.
http://www.simonandschuster.com/books/T ... 1501121975
This Brave New World
India, China and the United States
By Anja Manuel
based on 29 ratings | 5 reviews on Goodreads.com
“Incisive...lively and accessible...Manuel shows us that an optimistic path is possible: we can bring China and India along as partners.” —San Francisco Chronicle

In the next decade and a half, China and India will become two of the world’s indispensable powers—whether they rise peacefully or not. During that time, Asia will surpass the combined strength of North America and Europe in economic might, population size, and military spending.

Both India and China will have vetoes over many international decisions, from climate change to global trade, human rights, and business standards.

From her front row view of this colossal shift, first at the State Department and now as an advisor to American business leaders, Anja Manuel escorts the reader on an intimate tour of the corridors of power in Delhi and Beijing. Her encounters with political and business leaders reveal how each country’s history and politics influences their conduct today. Through vibrant stories, she reveals how each country is working to surmount enormous challenges—from the crushing poverty of Indian slum dwellers and Chinese factory workers, to outrageous corruption scandals, rotting rivers, unbreathable air, and managing their citizens’ discontent.

We wring our hands about China, Manuel writes, while we underestimate India, which will be the most important country outside the West to shape China’s rise. Manuel shows us that a different path is possible—we can bring China and India along as partners rather than alienating one or both, and thus extend our own leadership in the world.

chanakyaa · Post by **chanakyaa** » 17 Aug 2016 07:00

The coming quarters are going to be very interesting. Will it be a repeat of 2008 or will it be a repeat of 2000 dot-com bubble or will it be a repeat of 1997 Asian Financial crisis? And will we learn the correct lessons or will the lessons be half learned?

What would cause such event/what is the driver?? 2000-dot-com, 2008 and Asian crisis, or 1998 for that matter were caused by different reasons?

SaiK · Post by **SaiK** » 17 Aug 2016 09:52

2020 will be all about BIG bubble!

Neshant · Post by **Neshant** » 17 Aug 2016 11:43

Back from the grave..

Austin · Post by **Austin** » 17 Aug 2016 12:56

chanakyaa wrote:
The coming quarters are going to be very interesting. Will it be a repeat of 2008 or will it be a repeat of 2000 dot-com bubble or will it be a repeat of 1997 Asian Financial crisis? And will we learn the correct lessons or will the lessons be half learned?
What would cause such event/what is the driver?? 2000-dot-com, 2008 and Asian crisis, or 1998 for that matter were caused by different reasons?

I dont remember the earlier crisis but 2008 I do and it was due to sub-prime which had domino effect on banking sector and subsequent bail outs.

They did not fixed the problem of 2008 but simply kicked the can by introducing QE of which 98 % went into Stocks & Bonds.

Any one of the thing can create the next crisis , Bond market collapse , Recession , Stock Market collapse , Chinese Massive Credit Bubble collapsing , EU Banking issues any one can be a trigger ......We are into 90 months since the last collapse and due to cyclical nature of the system and even with healthy systems Financial crises do take place every 7-8 years.

I was just looking at MICEX yesterday and it is at all time high , For a Russian economy which is in recession having a Stock Market at all time high should tell you the Bubble in Stocks are at all time high! Look at Dow that hardly corresponds to health of the US economy , Look at Shanghai Index it at 3000 ! Well one might argue that it was 5000 about year and half back though before it crashed.

QE has provided a unique position to the market where the Real Economy and Stock Market Performance have diverged from each other.