CIBS Conference: DIDIER SORNETTE Swiss Federal Institute of Technology Zurich (Switzerland)
DIDIER SORNETTE Swiss Federal Institute of Technology Zurich (Switzerland)Diagnostics of Global Financial Markets and Economies: The Cradle of Bubbles – What does it bode for the Future?
In the late 1970s to beginning 1980s, an epoch changing transition occurred, unnoticed by most. We will present a massive amount of evidence of this transition in all sectors of public and private life. This transition corresponds to a change from a productivity-fueled growth that was seen in the 1950s and 1960s to what I will refer to as the regime of the “illusion of the perpetual money machine”. The result has been a succession of bubbles and crashes,