Great description of the situation: In the shadow of the volcano
The central theme was that we shouldn’t be gulled by the clear evidence of recovery into thinking it’s business as normal again.
There are signs of new bubbles being pumped up – in China, for example. Perhaps more importantly, the structural flaws to the global financial system (banks that are under-capitalised and remain too big to fail, the excessive indebtedness of the West, and so on) have not yet been fixed.
Watch the video embedded in Robert Preston’s blog posting.