October 16, 2015 – Earlier this week, top analysts from Goldman Sachs, the leading global investment banking, securities, and investment management firm, claimed that the third wave of the financial collapse, which began in 2008, is rapidly approaching, and debt will be at the root of it.
In a note dated from last week, Goldman said, "Increased uncertainty about the fallout from weaker emerging market economies, lower commodity prices and potentially higher U.S. interest rates are raising fresh concerns about the sustainability of asset price rises, marking a new wave in the Global Financial Crisis.”
It would seem, according to CNBC, that the “emerging market wave, coinciding with the collapse in commodity prices, follows the U.S. stage, which marked the fallout from the housing crash, and the European stage, when the U.S. crisis spread to the continent's sovereign debt.”
Goldman has expressed concerns over emerging markets, lowering interest rates, and downgrades for emerging markets. Top analysts said that the third wave is characterized by rock-bottom commodities prices, stalling growth in China and other emerging-markets economies, and low global inflation.
Some analysts believe that the financial crisis of 2008 never ended, and this “third wave” is simply another stage in the process.
Krause, Joshua. “Goldman Sachs: The Third Wave of the Financial Crisis Is Upon Us.” The Daily Sheeple. The Daily Sheeple, 12 October 2015. Web. 16 October 2015.
Shaffer, Leslie. “Is EM turmoil the third wave of the financial crisis? Goldman thinks so.” CNBC. CNBC, 12 October 2015. Web. 16 October 2015.