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Simon Johnson: We’re Setting Ourselves Up For An Enormous Catastrophe

Simon Johnson: We’re Setting Ourselves Up For An Enormous Catastrophe

Courtesy of Clusterstock, by William Wei

"The conventional wisdom is you can’t have back-to-back major financial crises. I think we’re going to push that, we’re going to have a look and see whether that’s true. And the next 12 months could really be exciting. People could be very positive, but we are setting ourselves up for an enormous catastrophe."

He thinks the catastrophe is likely to happen in emerging markets such as China where it looks like we’re following the same Japanese pattern of the 90′s.

Watch the interview below:

 

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