Am I a Cassandra?

Am I a hopelessly hide-bound and negatively biased Cassandra?

Well, before you guys answer that, How about reading the following observations about the Macro-economic events of the last five years from someone who just might know a lot more about these things than YOU?

This is from today’s Opinion page of the New York Times.

I severely edited this and, therefore, give you the URL for the full article, because the NYT is so very sensitive about what they consider to be outright copying of their otherwise worthless Mind Drivel.

However, as I have admitted in the past, to Cover their A_ses, the MSM will often print quite helpful and accurate articles.

Here follows one – IMO!!

  http://www.nytimes.com/2013/12/19/opinion/gordon-brown-stumbling-toward-the-next-crash.html?_r=0

Op-Ed Contributor

Stumbling Toward the Next Crash

By GORDON BROWN

Published: December 18, 2013

LONDON — In early October 2008, three weeks after the Lehman Brothers collapse, I met in Paris with leaders of the countries in the euro zone. Oblivious to the global dimension of the financial crisis, they took the view that if there was fallout for Europe, America would be to blame — so it would be for America to fix. I was unable to convince them that half of the bundled subprime-mortgage securities that were about to blow up had landed in Europe and that euro-area banks were, in fact, more highly leveraged than America’s.
Despite the subsequent decision of the Group of 20 in 2009 on the need for rules to supervise what is now a globally integrated financial system, world leaders have spent the last five years in retreat, ….
The economist David Miles, who sits on the monetary policy committee of the Bank of England, may exaggerate when he forecasts financial crises every seven years, but most of the problems that caused the 2008 crisis — excessive borrowing, shadow banking and reckless lending — have not gone away. Too-big-to-fail banks have not shrunk; they’ve grown bigger. Huge bonuses that encourage reckless risk-taking by bankers remain the norm. ….
………… (I deleted roughly 70% of  this article, to avoid the charge of utilizing copyrighted material, which you guys should in fact go and read:  IF, you want to understand in some detail exactly why another and huger and much more devastating CRASH is imminent in roughly winter 2015/16 to summer fall of 2016)……… 
In short, precisely what world leaders sought to avoid — a global financial free-for-all, enabled by ad hoc, unilateral actions — is what has happened. Political expediency, a failure to think and act globally, and a lack of courage to take on vested interests are pushing us inexorably toward the next crash.
Gordon Brown, a Labour member of the British Parliament, is a former chancellor of the Exchequer and prime minister.