(Updated: 14:46 15/09/2018)
WASHINGTON, September 15 (Itar-Tass) – RIA Novosti, Ekaterina Sobol. Survived by the global economy, the financial crisis of 2008, which turns 10 on September 15, may be repeated due to inflated government debt and corporate debts, loss of investor confidence and new wave companies that do not know the principles of the bear market, RIA Novosti economist of the analytical office Smith's Research & Grading Scott McDonald.
On the night of Monday, September 15, 2008, the bank of Lehman Brothers filed a bankruptcy petition requesting protection against creditors. The bankruptcy of the fourth largest US investment bank Lehman Brothers became the starting point of the global financial crisis, which later developed into a global recession. Their occurrence is usually accompanied by a number of factors: the general cyclical nature of economic development and the crisis on the US mortgage market in 2007.
McDonald is convinced that the crisis can happen again. "Unfortunately, but the fact is that there will always be a new crisis, perhaps we will not see a repeat of the bankruptcy of mortgage banks and what followed, but we have built up a large amount of government debt, the national debt is growing both in the US and in Great Britain. Britain, Japan and Italy and the process can not be stopped: the growth of the critical mass of the debt burden continues, "he said.
"In addition, companies in emerging markets have accumulated large debts and are under even more pressure when interest rates rise." The most important factor for market growth is investor confidence. Right now, this confidence based on the fact that the US economy is growing rapidly will close, investors will continue to fund the US budget deficit, "adds McDonald.
But, he said, this confidence is easy to change, if "the trade wars get out of hand, the tightening policy of raising Fed rates will make access to finance more difficult, in this case there will be a serious problem. threatening a new crisis such as 2008. "
"The next crisis may be different, probably it will be connected to new technologies and non-banking financial institutions, many of which are managed by bold and courageous young managers who have never participated in a truly bearish market (market conditions where the prices for effects drop, and widespread pessimism becomes self-sustaining. "- Ed.)," he concluded.