WEB Notes: Nothing has changed, he has that right. They papered over the crisis. What does that mean? It means through bailouts and artificially cheap interest rates they brought the market back to life. The next crash I would anticipate being far greater than before and lead us further down prophecy lane.
Former British Prime Minister Gordon Brown warned that the world is on the verge of sleepwalking into another financial crisis because governments have failed to tackle the causes of the last major financial crash a decade ago.
Britain’s leader when the collapse of the U.S. investment bank Lehman Brothers triggered the worst financial crisis since the Great Depression said the world is leaderless and was now entering a period of vulnerability.
“We are in danger of sleepwalking into a future crisis,” Brown, 67, told The Guardian. “There is going to have to be a severe awakening to the escalation of risks, but we are in a leaderless world.”