Compared to the crash of 2008, the next crisis will actually be even worse

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By Cormac Lucey It is 10 years since the Irish government’s fateful decision to guarantee the liabilities of the Irish banks. That rubber-stamped the country’s plunge into financial disaster, following the collapse two weeks earlier of Lehman Brothers, which kickstarted the international financial crisis. As with all meltdowns, there had been plenty of warnings. The share price of Bank of … Read More

Threat of a global debt landslide could still bury us all

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By Cormac Lucey Irish house prices rose by more than 12% last year. According to the stockbrokers Davy, this rate of increase isn’t sustainable — as sharp property price increases aren’t being matched by comparable jumps in incomes. In Dublin, prices have regained about two-thirds of the drop they suffered between 2008 and 2013. Rents, meanwhile, have surpassed boom-time levels. … Read More