Bernard Hickey: Capitalism – top heavy and toppling
The last fortnight’s dramas on financial markets is really just the sound of investors waking up to some fundamental problems in the global economy.
It is now dawning on the world’s biggest fund managers that there is too much debt weighing on households and governments in the developed world.
More importantly, they realise there will not be enough economic growth and income to repay those debts over the next 10-20 years.
Read Bernard’s full article here