With economy imploding, US losing its superpower status to make room for Russia and China, says Max Keiser ...United Arab Emirates

Russia Today - Economy

The global markets’ current implosion was 100 percent guaranteed, former Wall Street stockbroker Max Keiser told RT. According to him, the financial markets are best described as a “quadrillion-dollar Ponzi scheme.” “Central banks’ policy of allowing governments and corporations to borrow, at virtually no cost, against decades of future consumption to consume now, hollowed out the global economy and made it extremely fragile,” said Keiser. He explained that industries and companies that destroyed themselves buying back their own stock (airlines, for example) are “rightfully being wiped off the face of the map.”

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Last updated : 17 March 2020 clock 06:20 PM

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