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A GLOBAL FINANCIAL GURU WHO PREDICTED THE CRISIS OF 2008 SAYS MORE TURMOIL MAY BE COMING

Tuesday, September 9, 2014 12:02

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The U.S. investor community was reveling in the high growth and stable financial conditions then prevalent around the world, but Rajan had examined global financial markets and come to a very different opinion. He argued that increasingly complex markets, which spewed out complicated instruments like credit-default swaps and mortgage-backed securities in ever greater quantities, had made the global financial system a riskier place, not less so as many believed. Such comments were considered near blasphemy at the time, and Rajan’s audience didn’t take him very seriously.

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After three years in 2008, on the other hand, his perspectives demonstrated prophetic. Rajan had for the most part anticipated the wellsprings of the most exceedingly terrible money related breakdown since the Great Depression of the 1930

Today, Rajan, now governor of the Reserve Bank of India, the country’s central bank, is worried again. This time, he’s fretting about the impact of the superloose monetary policies pursued by the U.S. Federal Reserve and other central banks to combat the financial crisis and resulting recession. Long-term low interest rates and unorthodox programs to stimulate economies — like quantitative easing, or QE — could be laying the groundwork for more turmoil in financial markets, he argues.

Credits: A Global Financial Guru Who Predicted the Crisis of 2008 Says More Turmoil May Be Coming

Source: http://truthelementnews.com/?p=1300

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