"The second round of the great global financial crisis is about to begin."
If you keep on saying that you will be right, eventually. But you probably wont be around to enjoy the kudos. The GFC of 2008 was a once in 80 year event.
Yes. The game has changed. There has been "credit creation" since the GFC, but globally banks have been accumulating protection in the form of regulatory capital at a faster rate.
