Financial systems fail when they become so complex no-one has any idea of how interlinked they (and especially their bad debts) have become.
It’s what happened in Japan when its stock market peaked in 1989 — triggering a 12-year bear market — what happened globally in 2008, and something that’s currently being worked out in various ways in the Chinese r…
Keep reading with a 7-day free trial
Subscribe to GamesTX to keep reading this post and get 7 days of free access to the full post archives.