From American Thinker; Steve McCann
Lately one of the primary topics discussed among my business associates in Europe is the question: How long before we [the U.S. and the world] confront a new financial crisis? In fact, an overview of the financial landscape indicates there are many potential triggers that could initiate a new catastrophe.
Normally a severe crisis, such as the one in 2008, takes a number of years to evolve into a prolonged recovery cycle. Economies have to recover and bank capital has to be rebuilt concurrent with debt workouts. These factors as a rule constrain risk appetite thus allowing for an orderly transition into growth and prosperity as well a gradual rebirth of optimism. However, in just a few short years the markets are already experiencing uncontrolled optimism, excessive leverage and overpriced assets — the central factors inherent in any financial crisis.
Read it here.