"World economy is sleepwalking into a new financial crisis"

SPCFD:SPX   S&P 500 Index
Past crashes spawned new thinking and reform but nothing has changed since 2008 banking meltdown, says former Bank of England boss.

The world is sleepwalking towards a fresh economic and financial crisis that will have devastating consequences for the democratic market system,
according to the former Bank of England governor Mervyn King.

Lord King, who was in charge at Threadneedle Street during the near-death of the global banking system and deep economic slump a decade ago,
said the resistance to new thinking meant a repeat of the chaos of the 2008-09 period was looming.

Giving a lecture in Washington at the annual meeting of the International Monetary Fund, King said there had been no fundamental questioning of the ideas that led to the crisis of a decade ago.

“Another economic and financial crisis would be devastating to the legitimacy of a democratic market system,” he said.
“By sticking to the new orthodoxy of monetary policy and pretending that we have made the banking system safe, we are sleepwalking towards that crisis.” (The Guardian)

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We should continue to see a pullback here. It is however at a very interesting inflection point thought. I can see this going to 3200 but everyone knows that the beginning of a correction could happen at anytime.
@vincent007, This is Dow Jones. If you use Fib Time zones, April 2020 is the first important zone. "Sell in May and go away" ?
We see really high open interest at the 3150 strike in SPX. There is also really large size in 12/20 options expiration. all this could provide fuel for a major move. hard to predict next few weeks until we finish china tariff weekend, FOMC, BREXIT this week.
CryptoTrend-Alerts SpotGammaModel
@SpotGammaModel, I think that 3150 is not important for a long term picture. 3150 could be lower high, and it could start a correction. From my 10+ years futures trading experience - there is no real Trend Reversal without Stophunt. If prices start falling from here, it is only a trade - but not "THE END OF THE WORLD" ;)

Tread very carefully trying to short this market. It may just surprise you. I’m expecting a cool down and then probably continue to crush ath in the coming year( I’m not denying it’s a ticking time bomb. But they have infinite qe and like I said , better safe than getting a slayed by a giant green....thing)
CryptoTrend-Alerts BrandonGallegos
@BrandonGallegos, Not over yet .IMO
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