He is promoting a new book, and the topics do seem to line up awfully well for a book called "How Countries Go Broke". But I didn't get the sense that he was really there to promote the book at all, he doesn't need the money. I saw it more as an attempt to get a message to certain people in a position to change things, who are known to be sensitive to how television media covers a situation.
Combine his comments with Bloomberg interviewees saying "the game has shifted to capital preservation", banks reassuring everyone that they are increasing capital and well positioned against systemic shock, and the fed saying they're ready and prepared to step in when needed... there's quite a few echoes of 2008. Everyone saying "we've got you covered when things go to zero" still sends out the message "wait... you're saying this is going to zero?"
We should listen to him, he's predicted 15 of the last 1 recessions.
Seriously, he says this every year. That he was right one year doesn't make him prophetic.
The actual video of the interview is worth watching, there's some more nuance than the article and headlines:
https://www.youtube.com/watch?v=Topa3LKgolw
He is promoting a new book, and the topics do seem to line up awfully well for a book called "How Countries Go Broke". But I didn't get the sense that he was really there to promote the book at all, he doesn't need the money. I saw it more as an attempt to get a message to certain people in a position to change things, who are known to be sensitive to how television media covers a situation.
Combine his comments with Bloomberg interviewees saying "the game has shifted to capital preservation", banks reassuring everyone that they are increasing capital and well positioned against systemic shock, and the fed saying they're ready and prepared to step in when needed... there's quite a few echoes of 2008. Everyone saying "we've got you covered when things go to zero" still sends out the message "wait... you're saying this is going to zero?"