T&B recently participated in a series of broadcasts on the global economy and its influence on Russia for Russia’s Channel One. We requested a list of questions to help prepare for the filming, and, after the show, decided that they would make a useful stand-alone, summarizing our current views quite neatly, while we struggle to finalize our next full report…
Channel One: The president of the World Bank has just warned that the world is “one shock away from a (new) full-blown crisis”. Does the crisis have to be “global” – can Russia avoid it?
Eric Kraus: The amazing thing is that we have seen, in rapid-fire succession, a political meltdown in the Middle East, the world’s second largest economy being hit by a ten-metre wall of water, crude oil prices soaring out of control, a tanking US dollar, a major debt crisis in Europe with a far more dangerous one brewing in the US causing S&P to downgrade the US credit outlook – and yet the markets continue to sail along, oblivious to it all. THAT is the weird thing. What will it take for it to unwind? For how long can the continued provision of liquidity by central banks and deficit‐governments continue to delay the day of reckoning?
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Through Western Eyes: T&B’s Eric Kraus on Russia’s Channel One TVTélécharger :
Eric Kraus
