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GLOBAL financial crash 'MONTHS away': Bubbles are bursting EVERY DAY, warns Yale academic
FINANCIAL bubbles across the globe are imploding and the problem is only set to get worse, an academic from one America's top universities has warned.
By LANA CLEMENTS
05:17, Sat, Mar 5, 2016 | UPDATED: 08:39, Sat, Mar 5, 2016
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Vikram Mansharamani, an author and, lecturer at Yale University has warned of the financial crisis
GETTY
Vikram Mansharamani, an author and, lecturer at Yale University has warned of the financial crisis
Prices are falling around the world thanks to the collapse of China's debt fuelled economic growth and this has triggered a succession of disastrous events that are starting to be realised, according to Vikram Mansharamani, an author and, lecturer at Yale University.
Fears are growing that the world could face a financial crash of unprecedented levels and could even be just six months away.
Bubbles created by the mountain of cheap money made available by low interest rates since the last financial crisis are now starting to burst, said Mr Mansharamani.
He told CNBC: "[The bubbles] are in the process of deflating…It all started with the China investment bubble that has burst and that brought with it commodities and that pushed deflation around the world and those ripples are landing on the shores of countries literally everywhere."
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Falling oil prices and a collapse in other commodity prices, in part thanks to China's slowing economy, have kept prices low globally over the past year.
Economies heavily dependent upon commodity profits have suffered enormously, and the knock-on affects are now being felt.
Mr Mansharamani added: "We've got a bubble bursting, I would argue, in Australian housing markets — that is beginning to crack; South Africa — the whole economy; Canada — housing and the economy; Brazil. We can keep going on and on."
George Osborne is facing challenges as Chancellor
PA
George Osborne is facing challenges as Chancellor
The Bank of England and centra bankers in other developed countries are now battling against the toxic deflationary forces that push prices down and threaten to condemn economies to years of stagnation.
Inflation in Britain has barely risen above zero over the past year, and for the first time since the 1960s the country last year dipped into deflation.
There are now signs that economic growth in the UK is starting to slow and London's huge property bubble could be about to burst.
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56 Comments
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57 days ago
Hauldyerwisht
Deutsche bank the beating heart of Merkles economy is currently sitting on a debt time bomb of 5 x times that which crashed Leaman brothers in the US.
When the creative accounting tricks they are pulling to hide this disaster run out of steam its going to need a massive transplant. We dont want to be around to pick up the pieces.
Brexit us out of this mess!!
ReplyShare0
66 days ago
Jackie, Devon
The only way to get the poison out is to let it burst. It will burst whether we leave or remain. But if we leave we are less likely to be forced to bail out the Eurozone banks etc. So please vote leave.
ReplyShare1 reply+5
66 days ago
stuperman
The UK does not have to bail them out. Keep up.
ReplyShare-3
66 days ago
Robin123
Damn China we may have a war with them over the South China Sea after all this is in International Waters and the Chinese want it for themselves.
ReplyShare+1
66 days ago
the light
Not allowed to say who is causing these problems - I wonder why
ReplyShare+4
66 days ago
Middle Englander
Another prophet of doom, sod off !
ReplyShare-4
66 days ago
The ungagged
Poor little old grey britain. The remain group have already blamed the possible economic downturn of the EU if we leave and now the GLOBAL economic is being blamed on us if we leave.
The plague and pestilence will be the next things the remain group blame on us getting OUT.
Vote LEAVE. You know it makes sense.
ReplyShare+8
66 days ago
Ewiak
I'm not surprised this message. Let me remind here a fragment of an ancient vision: "And [the king of the north = Russia since the second half of the nineteenth century (Daniel 11:27)] will go back (to) his land with great wealth [1945. This detail indicated that Hitler will attack also the Soviet Union and will fight to the bitter end. In the beginning there were no signs of such the ending of this war]; and his heart (will be) against the holy covenant [hostility towards Christians]; and will act [it means activity in the international arena]; and turned back to his own land [1991-1993. The collapse of the Soviet Union and the Warsaw Pact. Russian troops returned to their country]. At the appointed time [he] will return back." (Daniel 11:28, 29a) The return of Russia in this context means crisis, which will eclipse the Great Depression. Not only the eurozone will break up, but also the European Union and NATO. Then many countries of the former Eastern block will return to Russia's zone of influence. Russian troops will be stationed here again. This will be the last sign before the global nuclear war. (Daniel 11:29b, 30a; Matthew 24:7; Revelation 6:4)
ReplyShare+3
66 days ago
the light
All very carefully planned by those in charge of global finance and politics. Taxpayers are still waiting for their money back having bailed out the banks last time while the bank bosses continue to receive millions in bonuses, our politicians vote themselves extra pay rises, the wealthy continue to withhold taxes
ReplyShare+7
66 days ago
Brize103
The Austerity cuts were too severe and too quick, he followed the Japanese mistake which decimated their economy for nearly 20 years. The prat was warned by many economists not to go down that route but he didn't listen, We're heading down the same dangerous road. Globalisation has been the biggest folly of all, our manufacturing base is a joke and we rely solely on people spending money (service sector) to keep our economy afloat. Now with the world economy on the brink of recession again, the muppet wants to cut hard again, repeating the SAME mistake as before. We should be borrowing a set amount of money whilst interest rates are low and build our economy through house building and infrastructure projects.
ReplyShare1 reply+6
66 days ago
Forage
The deficit has been reduced by over a half, employment is the highest on record, unemployment continues to fall continuously, and the manufacturing sector is in the top-ten in the world. Moreover, the UK has grown to be the fifth-largest in the world and the second-largest economy in the EU. What a success Osborne has been, rather than having an ever-increasing deficit under Labour.
ReplyShare0
66 days ago
tonydartford
The so called brains and money people bent over backwards to lend money to China forcing the bubble bigger and bigger. For a short term gain they are now going to suffer.
ReplyShare+3
66 days ago
BigL
No doubt Cameron will jump on this as being a direct result of a possible Brexit vote. The fact is that all financial highs and lows are carefully orchestrated by just a few very wealthy and very clever people whose greed knows no bounds. Osbourne would love to be among them but he's just not in their league.
ReplyShare+8
66 days ago
Alasserendipity
If the Euro starts to tank it will be incentive to LEAVE
If the migrant crisis gets worse it will be incentive to LEAVE
If there is another terrorist attack on mainland Europe it is incentive to LEAVE
Not much going for the remain campaign other than fear...
BREXIT
ReplyShare+10
66 days ago
Itsme
the coming financial crash was always planned..it's all part of the 'plan' to rob people of their money and their security..and I'm betting it happens right before the referendum...
ReplyShare1 reply+9
66 days ago
Richard (Thailand)
Monday June 20th will be about right.
ReplyShare+3
66 days ago
Happy1
Starting with France and Italy..Eurozone can't afford to bail them out.
ReplyShare1 reply+7
66 days ago
RTA Rev 1
add Spain and Greece, maybe Ireland as well
ReplyShare+4
66 days ago
OBOne
Imagine those fools who paid 500k for a flat in Brixton when it drops to 200K !!
ReplyShare1 reply+8
65 days ago
DAY1676
Yes it's comming soon,one big bubble burst.
ReplyShare+1
66 days ago
wicca
whoopee do........how come this guy makes a fortune for his predictions while I get naff all......any fool can see the markets have been rigged and a massive correction is inevitable.........suppose this will be another reason for staying in a rigged europe.......rubbish
ReplyShare+6
67 days ago
anglefun
With the bubble bursting we will have to stop giving money away for this country to survive and get back control. Vote leave.
ReplyShare+7
67 days ago
Tory-party-evil-party
Please let the London's property bubble burst. I want to see prices drop by 70%.
ReplyShare+11
This comment has been deleted
1 reply
66 days ago
bannon
FreeLance255.Tk
Based in the south Pacific and linked to new zealand. A S cam haven ready to milk you!
ReplyShare+2
67 days ago
Templar
About time the London property ''bubble'' bust and hopefully a similar knock- on effect will be felt in all other parts of the UK..............Then our younger generation will be able to afford homes of their own!
ReplyShare1 reply+7
66 days ago
EnlightenedPatriot
But no housing problems if you are one of the recent invaders - you may even be put in a couple of £Million mansion.
ReplyShare+2
67 days ago
AJAX
... here it comes ....
ReplyShare+4
67 days ago
ekimwar
A controlled implosion, no more nor less; and this is no surprise. They play the same crooked game as if we don't know who will always win in every Depression and Recession; and those who will always lose.
ReplyShare+8
67 days ago
udonmalc
yes he is right.europe has to go under.one cannot keep giving money away and letting millions of migrants in giving them houses and money.plus fighting wars everywhere.its got to implode.the sooner the better
ReplyShare1 reply+9
67 days ago
Laugh a minute
Cameron can, Cameron does. !!
ReplyShare+3
67 days ago
florence4
It's not the failure of China, it is the complete fault of the west policy of giving the banks for nothing known as Quantitative Easing
ReplyShare3 replies+12
66 days ago
EnlightenedPatriot
Spot on! That is why those of us with some life savings are steadily being robbed of them in a transfer of wealth by zero, soon to be negative, interest rates. I'm quietly getting mine out.
ReplyShare+5
66 days ago
Richard (Thailand)
I think you mean printing worthless bits of paper and calling it money.
ReplyShare1 reply+2
66 days ago
EnlightenedPatriot
As well!
ReplyShare0
67 days ago
Laugh a minute
Oh no, another bloody expert, we need to take two banksters from each institution and execute them, this will send a signal to the rest of the rogues, problem solved. !
ReplyShare1 reply+5
67 days ago
EnlightenedPatriot
Agreed. The too-big-to-fail banks and their criminal fat cat heads manipulate markets and commodities, launder money from terrorists, drug cartels, arms traders, etc, and make many other dirty, underhanded dealings, yet not one goes to jail. Just a paltry fine, a small part of the ill-gotten gains, effectively paid for by us but going back as a cut to the government! You or I risk jail for not paying the TV TAX.
ReplyShare+8
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