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Key Words: Beware the ‘zombification of global economies,’ warns one fund manager

‘The next crisis is not likely to be another Lehman, but another Japan — a widespread zombification of global economies to avoid the pain of a large repricing of sovereign bonds, which leads to massive tax hikes to pay the rising interests, economic recession, and unemployment.’

That’s how Daniel Lacalle, chief economist and investment officer at Tressis Gestion, sees the next market mess unfolding.

“In the past 50 years, we have seen more than eight global crises and many more local ones, so the likelihood of another one is quite high,” he wrote in a recent piece. “Not just because of the years passed since the 2007 crisis, but because the factors that typically lead to a global crisis are all lining up.

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