Rising debt threatens to plunge world back into financial crisis, top economists warn

Financial Post | Business

As if the fast degenerating geo-political situation isn’t bad enough, here’s another lorry load of concerns to add to the pile.

[np_storybar title=”Historians will ‘tar and feather’ Europe’s central bankers, says Nobel laureate” link=”http://business.financialpost.com/2014/08/21/historians-will-tar-and-feather-europes-central-bankers-says-nobel-laureate/”]

Prize-winning economists say policy blunders have pushed Europe into a depression that will put Japan’s Lost Decade in the shade
[/np_storybar]

The UK and U.S. economies may be on the mend at last, but that’s not the pattern elsewhere. On a global level, growth is being steadily drowned under a rising tide of debt, threatening renewed financial crisis, a continued squeeze to living standards, and eventual mass default.

I exaggerate only a little in depicting this apocalyptic view of the future as the conclusion of the latest “Geneva Report”, an annual assessment informed by a top drawer conference of leading decision makers and economic thinkers of the big challenges facing the global economy.

The only way…

View original post 1,002 more words

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