Punk Economics – Lessons from the Banking Crisis. Here is a direct video link.
“Guarding against the unthinkable is more necessary than ever in a world home to over $700 trillion in derivatives (including $75 trillion housed at a single institution, Deutsche Bank) and tens of trillions of dollars of debt weighing down sovereign and central bank balance sheets. The unthinkable only has to happen one time to destroy us. It almost destroyed us six years ago. And while the surface of things is telling us that the bull market is intact and another crisis is not imminent, the architecture of the global economy and financial markets remains far more leveraged than before the financial crisis and therefore highly fragile.” —Credit Strategist, author, Michael E. Lewitt, March 2014
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