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"Banks fiddled while Rome burned: how to predict the next global financial crisis"

"Amid signs of another asset bubble, and as memories of the last crisis fade, we might be seeing the beginnings of the next crash"

Link to The Guardian

"The past week has seen a shudder pass through stock markets as investors have taken a closer look at some of the more highly valued technology stocks. Easter traditionally marks the start of the British house-buying season, and this year's begins with sales at a six-year high and prices up almost 10% on a year ago. The appetite for risk was highlighted by the demand for the five-year bonds issued by the Greek government.

"Inevitably, the talk is of bubbles about to pop, of a new speculative mania, of lessons not learnt. This talk is a bit premature but the warning signs are there.

"... There are a couple of reasons to beware. One is that central banks could leave policy too loose for too long. Dario Perkins, of Lombard Street Research, is one analyst cautioning that if the Fed leaves policy as loose as forecasts suggest, it could create new asset bubbles. The other is that in the age of Facebook and Twitter, only 'now' matters. If we have lost our capacity to remember, trouble may come sooner than we think."

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