Platzt bald eine Blase?

Stehen wir vor einer neuen Weltwirtschaftskrise? Desmond Lachman, resident fellow am American Enterprise Institute (konservativer US-amerikanischer Think Tank), nennt auf economics21.org fünf gute Gründe, warum dies so sein könnte:

1. Die Zentralbanken haben die Welt mit billigem Geld geflutet. -> “The total balance sheet of the world’s major central banks has increased from around $6 trillion to almost $18 trillion.”
2. Nie waren die weltweiten Schulden höher. -> “According to a recent IMF study, the world debt level today stands at 225 percent of world GDP. This is a significantly higher ratio than that which prevailed in 2008 on the eve of the Great Economic Recession.”
3. Gläubiger machen Verluste, da viele Staatsanleihen negative Zinsen haben, während Zentralbanken ein Inflationsziel von zwei Prozent verfolgen. -> “Those negative interest rates would imply that large real losses would be realized on those bonds if held to maturity.”
4. Die Preise für diese Schuldverschreibungen sind verzerrt. -> “It cant’t be of comfort that a country as troubled as Italy, which has the world’s third largest sovereign bond market, can borrow at lower rates than can the U.S. government.”
5. Systemrelevante Banken sind in Schwierigkeiten, vor allem in Europa. -> “Sadly, there would seem to be no shortage of troubled banks, especially in Europe, whose problems have been exacerbated by years of low interest rates and poor economic growth. As if to underline this point, recently the Bank of England requested its banks to provide it with information on their exposure to Deutsche Bank and to the major Italian banks.”