T. Sabri Öncü — Has the Crash of the Global Financial Markets Begun?

Second leg down now in progress?

Let me now throw in some terminology. Marxian “over-accumulation,” “overproduction,” and “underconsumption” crises theories, Keynesian theory of “lack of aggregate demand,” “financial instability hypothesis” of Minsky, “debt deflation theory of depressions” by Irving Fisher, Steve Keen’s “excessive private debts,” Michael Hudson’s “debts that cannot be paid will not be,” and the like. No matter which theory you use to look at the picture, your conclusion will be the same.

Historically and psychologically, conflict increases with adversity. Economic contraction coupled with current geopolitical conditions is "concerning."

Naked Capitalism
Has the Crash of the Global Financial Markets Begun?
T. Sabri Öncü (sabri.oncu@gmail.com), a financial economist based in Istanbul, Turkey. Original article published on February 13, 2016 in the Indian Journal Economic and Political Weekly