1/6 Corona may be the fuse triggering a systemic crisis. We already have 1) Disruption of supply chains 2) commodity slump 3) market corrections 4) oil wars
2/6 Next will be consumer demand collapse. Entire industrie from aviation to tourism will be hit.
3/6 The oil wars may trigger the meltdown in debtridden US shale. Disruption of Chinese industry may trigger collapse of debtridden Chinese SOCs and/ or banking sector
4/6 Central banks have no tools to fight another financial crisis #lowinterest #QE If these tools would work in this new type of crisis at all. Euro states have limited fiscal space to stimulate
5/6 with the end of Post-2008 interregnum, the financial system looks at a regime change. What will anchor it, who will guarantee the order? Both potential hegemons look vulnerable. We pivot- but to what?
6/6 Is this the end of the fossile industrial era? Looks like peak oil is a financial, not a geological question.
