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Ian Fraser
@Ian_Fraser
, 8 tweets, 8 min read Read on Twitter
What will cause the next global financial crisis? My three-part investigation.

Thanks for all your help with this @ProfSteveKeen @DUBusSchool (Kevin Dowd) @grepsul @AnnPettifor @stephanygj @EdinburghLoM @JosephEStiglitz icas.com/ca-today-news/…
.@DUBusSchool's Prof Kevin Dowd says British banks are even more vulnerable to collapse than they were in 2007-8. He said post-crisis reforms failed to address the root causes of excessive risk-taking and created new hidden systemic risks. My CA mag piece (via @ICASaccounting)
. @AnnPettifor, author of The Coming First World Debt Crisis, warns that post-crisis reforms have only scratched the surface. “The international financial architecture – the framework in which the banking system and financial institutions operate – has remained largely untouched"
. @stephanygj, financial markets director at @Policy_Dialogue, says the austerity imposed by George Osborne post 2010 was misguided, foolish and counterproductive. << My piece on the next financial crash.
. @ProfSteveKeen warns that post-2008 financial reforms are bound to fail as the policymakers who drew them up can't tell their fuel from their lubricant << Part 1 of my 3-part series on the next crisis global icas.com/ca-today-news/…
Will China trigger the next global financial crisis? @EdinburghLoM's Russell Napier and @stephanygj believe so. icas.com/ca-today-news/… << Part Two of my piece on the next crash
The next financial crisis will be caused by global debt levels that are higher than in 2008, the unwinding of QE and a rising dollar. @federalreserve chairman Jerome Powell is "locked in a process", says @AnnPettifor icas.com/ca-today-news/…
Michael Lewis: "Trump could precipitate a financial crisis that would make the 2008 crisis seem trivial" icas.com/ca-today-news/… << part 2 of my three part series on the next global financial crisis. Also quoted: @ProfSteveKeen @AnnPettifor @EdinburghLoM @stephanygj
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Ian Fraser
@Ian_Fraser
How an alleged British spy, Simon Bracey-Lane, a fellow of the Institute for Statecraft's "Integrity Initiative", infiltrated Bernie Sanders's 2016 presidential campaign. via @jimmy_dore
So, the Institute for Statecraft's Integrity Initiative wants to ramp up the Russia threat to get the UK military removed from democratic oversight? Leaked minutes of private discussion between II's Chris Donnelly & Gen. Sir Richard Barrons pdf-archive.com/2018/12/28/ric…
In a private chat, the Integrity Initiative's Chris Donnelly and General Sir Richard Barrons agreed the UK armed forces must be removed from democratic oversight. Doesn't this require a military coup? pdf-archive.com/2018/12/28/ric…
Read 11 tweets
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Ian Fraser
@Ian_Fraser
. @kevinhollinrake, chairman of the @APPGbanking has made clear to Lloyds CEO António Horta-Osório that the cross-party group *will publish* the Project Lord Turnbull Report unless Lloyds does so first. uk.reuters.com/article/uk-llo…
One of the most devastating documents about a British bank to have surfaced since the crisis, the #ProjectLordTurnbull report reveals how Lloyds/HBOS + KPMG (PWC?) buried the £1bn HBOS Reading fraud. Full report available to download here. Tx @RNW_MITCHELL eamonnblaney.com/project-lord-t…
The explosive 'Project Lord Turnbull' report was first referred to the Commons by @kevinhollinrake MP on 10 May. He is now calling for a public inquiry into the contents, which allege a 9-year coverup by Lloyds of a massive and devastating internal fraud yorkshirepost.co.uk/news/kevin-hol…
Read 18 tweets

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Taylor Pearson
@TaylorPearsonMe
1/ A Thread on the importance of context, modernism vs. postmodernism, and how to be a genius.
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Garrett Wollman
@garrett_wollman
Hey, guess what? It's time for my weekly summary of the @MBTA FMCB meeting. No meeting the next two Mondays because of the holidays, and the meeting was jam-packed. Scheduled start time was 11:00 but the @MassDOT Capital Programs Committee didn't release the room until 11:15ish.
I have nine pages of notes in addition to the written version of my own comments. The meeting started with two items pushed up on the schedule ahead of the public comments. First up was a retirement citation for the MassDOT highway division's chief snow and ice engineer.
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ℓʋℓʋ ℓɛ Who?
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Jeffrey Epstein is a free man, despite sexually abusing dozens of underage girls according to police and prosecutors. His victims have never had a voice, until now.
amp.miamiherald.com/news/local/art… ht @soychicka
On a muggy October morning in 2007, Miami’s top federal prosecutor, Alexander Acosta, had a breakfast appointment with a former colleague, Washington, D.C., attorney Jay Lefkowitz.
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Patrick Wyman
@Patrick_Wyman
Part of the reason that things in the US feel so turbulent right now is that we're in the midst of a good, old-fashioned, full-blown elite crisis.
This is most obvious in politics but also within the economy and society more generally. American elites largely define themselves as a meritocracy; a meritocratic elite is supposed to be fundamentally competent, so when they do incompetent things, it's hard to square.
The last two decades are full of examples of elite failure: never-ending wars in the Middle East and beyond, a global financial crisis, drastically rising inequality, growing political instability, an entire downwardly mobile generation.
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Julian Gough
@juliangough
"For now, few experts think that a broader crisis is imminent."

Well, I think a broader crisis is imminent. Let me put that on the record: We will have a worse global financial crisis than 2008, starting within the year. Let's see who's right.

washingtonpost.com/business/econo…
This is just irritating.

"Authorities in the United States and Europe took steps after the 2008 crisis to avoid a repeat episode."

No, they took steps that guaranteed a repeat episode. They tried to solve the problem at the wrong level.
The problem is that the main economic theory that all the authorities' actions are based on (general equilibrium theory), is wrong in its fundamental assumption. (Spoiler alert: it's that "equilibrium" bit.)

So it keeps being startled by crises it causes.
en.wikipedia.org/wiki/General_e…
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Ugo Obi-Chukwu
@ugodre
Hello Everyone, welcome to the December installment of Corporate Stories by @Nairametrics.

#NMCorporatestory is BTU by @BluechipTechNG

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On this latest installment of corporate story, we are going to tell the story of a young man and his start-up, who dared to take on a mighty monopoly.
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About displacing a corporate monopoly and the perils of riding that success.

The intersection between crony capitalism, patient capital and executive exuberance.
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