OECD Warns: The Global Financial System Is at Another Perfect Storm

brisbanetimes.com.au  ( Original )
JAN 23, 2018

ORIGINAL SOURCE: 'Perfect storm': Global financial system showing danger signs, says senior OECD economist Ambrose Evans-Pritchard of brisbanetimes.com.au on 1/23/18

Professor William R. White, former manager of the Bank for International Settlements (BIS) and now the chairman of the Economic and Development Review Committee (EDRC) at the OECD in Paris is warning that the global financial system is dangerously close to another perfect storm similar to the 2007/2008 banking crises just before that "Lehman Moment".   He says that central bankers are adding more fuel on the fire and now at a dangerous juncture.

Central banks are now caught in a "debt trap". They cannot hold rates near zero as inflation pressures build, but they cannot easily raise rates either because it risks blowing up the system. "It is frankly scary," said Prof White.


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