SaxoTV

7 years after Lehman, only now are the lean years coming

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We've learned nothing since the collapse of Lehman Brothers seven years ago today; that's the view of Saxo Bank's Chief Economist, Steen Jakobsen. He argues the emergency measures brought in in 2008 have been in place for far too long and, like a broken arm that's kept for too long in plaster, economic muscle has withered. 
Steen predicts lean times ahead, but that's not necessarily a bad thing as central bank funding has acted like a sugar diet on the global economy. Reforms to improve productivity are desperately needed and he considers whether an imminent interest rate rise in the States could be catalyst for a new normalisation.