by ReadMurrayBookchin
I compiled a list of some of the places where we could see the beginnings of a global financial crisis. I don’t know very much about developing markets so I’m sure there is much more out there.
North America
USA: Stock bubble; leveraged covenant-lite loans; commercial property / housing bubble in certain regions; corporate junk bonds; equity ETF’s; corporate debt; underfunded pension liabilities; state and local government debt; zombie companies
Canada: Housing bubble
Asia
China: Massive housing / property bubble; entrusted loans; local government financing vehicles (LGFV’s); corporate bonds; wealth management products (WMP’s); zombie companies; stock market bubble(?)
Japan: Stock bubble; corporate debt; non-performing loans on Japanese bank balance sheets
Australia: Housing bubble
India: Non-performing bank loans
EU
Italy: Non-performing bank loans; sovereign debt
UK: Risk of a no-deal Brexit; housing bubble; corporate debt
Germany: DeutscheBank, Commerzbank weakness
Spain: Non-performing bank loans
Sweden: Housing bubble
MENA
Turkey: Currency crisis; construction/property bubble
South America
Argentina: Currency crisis; sovereign debt crisis
Brazil: Currency crisis; sovereign debt