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Forward Thinking on ‘megathreats,’ ‘polycrises,’ and ‘doom loops’ with Nouriel Roubini
Forward Thinking
The Global Web Balance Sheet Has Tripled in the Past Two Decades
Two-thirds of the world's wealth is in real estate. MGI research estimates global web balance sheet has tripled in past two decades, 50% higher than long run average compared to incomes. Is this a harbinger for the future? Well, the GFC was focused around the real estate bubbles going bust,. But as I said, everybody was bailed out and actually they borrowed even more because interest was so low.
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