The lessons of the 2008 banking crisis seemed obvious. Economic growth built on the shaky foundations of unsustainable debt was nothing more than a house of cards ready to come crashing down.The lessons of the 2008 banking crisis seemed obvious. Economic growth built on the shaky foundations of unsustainable debt was nothing more than a house of cards ready to come crashing down.
A decade on, it’s hard to make a case that much has changed. On the face of things, there is a renewed mood of optimism that we might be on the verge of good times again. The IMF’s latest World Economic Outlook upwardly revised its prediction for global economic growth to 3.9 per cent for 2018 and 2019, up 0.2 per cent from its forecast just six months ago.
Read more: Global Growth Forecasts Are On the Up… But So is Debt