COINCIDENTAL NEW NORMAL

When two experienced economy and finance analysts, who both correctly predicted the derivative crisis of 2008, again warn of an imminent crash one better listens up. Today Yves Smith of  Naked Capitalism  writes about the now  Inevitable Financial Crisis : For months, I have been confident that Europe would suffer a financial crisis and a depression, as in a real economy catastrophe accompanied by a market crash. It might not be that severe and lasting as 1929, but the breadth would mean there would not be 1987 quick bounceback nor a 2008 derivatives crisis concentrated at the heart of the banking system. Even though that looked like financial near-death experience, the same factors that made it more acute in many respects also made it easier for the officialdom to identify and shore up the key institutions that took hits below the water line. The short version of what follows is things are looking even worse now, and on multiple fronts. ... Below we’ll discuss the rapidly accelerating