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British newspaper expects a new financial crisis will hit the world
Editorial date: • 2017/5/14
A British newspaper predicted a new financial crisis would hit the world.
"There is a possibility of a new financial crisis, but the politicians will not tell you that," the Independent quoted one of Britain's leading economic journalists and writers as saying.
MacRae says that while some see economic contraction as a long way off, many of the more troubling symptoms are sweeping global financial markets, which are currently nearing their highest levels, but in reality the specter of a new financial crisis is not over.
He explains that the upcoming elections in Britain, for example, dominate the interest of politicians in the country so no one will talk about the possibilities of a financial crisis and economic contraction in the developed world during the next five years.
McRae points out that Western governments have not learned the lesson. The more these governments think the economy is becoming stronger and more resilient, the big bump suddenly occurs in what appears to be a inevitable global economic cycle that can not be avoided.
"This economic cycle is reaching the economic bottom point every seven or eight years," he says, adding that the previous lapse point in the United States and Britain was in 2008, meaning that we spent almost 10 years of the economic cycle.
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Editorial date: • 2017/5/14
A British newspaper predicted a new financial crisis would hit the world.
"There is a possibility of a new financial crisis, but the politicians will not tell you that," the Independent quoted one of Britain's leading economic journalists and writers as saying.
MacRae says that while some see economic contraction as a long way off, many of the more troubling symptoms are sweeping global financial markets, which are currently nearing their highest levels, but in reality the specter of a new financial crisis is not over.
He explains that the upcoming elections in Britain, for example, dominate the interest of politicians in the country so no one will talk about the possibilities of a financial crisis and economic contraction in the developed world during the next five years.
McRae points out that Western governments have not learned the lesson. The more these governments think the economy is becoming stronger and more resilient, the big bump suddenly occurs in what appears to be a inevitable global economic cycle that can not be avoided.
"This economic cycle is reaching the economic bottom point every seven or eight years," he says, adding that the previous lapse point in the United States and Britain was in 2008, meaning that we spent almost 10 years of the economic cycle.
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