● Zombie Banks: How Broken Banks and Debtor Nations Are Crippling the Global Economy
By Yalman Onaran
Q&A with author via PLFNews
Everyone is afraid that the world economy is about to go into a second recession. Why are we heading in that direction?
That’s because we haven’t fixed the problems that had caused the one in 2008. Leaders in the U.S. and Europe patched up the troubled spots, printed lots of money and avoided the underlying issues. Especially the banking system, which blew up to bring the world economy down a few years ago, is still fragile, too wounded to support a recovery and filled with even more risk. That’s why I call the banks zombies. They will make the next blowup more spectacular.
