The economist Jesse Colombo, who warned about the onset of the 2008 global financial crisis, said that the world economy will face another shock, only much worse. Information about this forecast was published by The Independent.
According to the publication, Colombo 12 years ago revealed a “bubble” formed in the American real estate market and which subsequently brought down the global economy.
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According to the analyst, now there are many more such bubbles and some of them should burst now. The economist found these bubbles in almost 20 markets: European real estate, corporate debt and US stocks, student loans, car loans, shale energy and technology startups.
According to Colombo, these “bubbles” have helped restore the global economy in the past 12 years. However, the largest and most dangerous such “bubble” is the Chinese “credit bubble”.
The economist noted that the upcoming global financial crisis will be much worse than the crisis of 2008, as already now there are accumulated debts of $ 100 trillion more than last time.
According to the analyst, the coronavirus epidemic could become the “trigger” for starting a new crisis.