BIS: Worldwide credit excess ‘worse’ than pre-Global Financial Crisis

[BlackListedNews]

The Swiss-based ‘bank of central banks’ says a hunt for yield is luring investors en masse into high-risk instruments, “a phenomenon reminiscent of exuberance prior to the global financial crisis”. “This looks like to me like 2007 all over again, but even worse,” said William White, the Bank for International Settlement’s former chief economist.


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