June 20, 2019

The world can’t afford another financial crash – it could destroy capitalism as we know it

But no developed nation today could possibly tolerate another wholesale banking crisis and proper, blood and guts recession.

We are too fragile, fiscally as well as psychologically. Our economies, cultures and polities are still paying a heavy price for the Great Recession; another collapse, especially were it to be accompanied by a fresh banking bailout by the taxpayer, would trigger a cataclysmic, uncontrollable backlash.

Source: The world can’t afford another financial crash – it could destroy capitalism as we know it – Telegraph

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