I think I’ve mentioned previously that I read The Economist. I’m interested in the world of business, but not inclined to dip my toe in it–an annoying pub bar expert, that’s me.
You don’t have to believe me, but I saw the financial crisis coming. I couldn’t understand what these credit derivative swaps and similar rubbish were, nor find a clear explanation of them–and talking them up when you can’t explain them sounded warning sirens for me. So with typical bearish enthusiasm, I said. “This can’t last.” Unfortunately, I was right. And I think it’ll happen again.
I think the “rescue” of the world economy was shallow and is festering other problems. In Australia, our houses are over-priced and people are struggling financially. Yet we are among the countries reported as having best survived the crisis.
I don’t know what will tip us into financial panic again. Maybe an attack on Iran? Maybe a bank collapse? The insurance industry is murky, too, and faced with the calamities of global warming. Anything could happen.
Anything could happen–there’s a SF story in there. Writers are opportunists, too.