author-image

Ten years after the financial crisis, we’re still addicted to cheap money

Unless we learn the lessons fast, the left will bring down the free market

The Times

It is extremely rare for breaking news about the seemingly dry domain of banking or economics to stop a busy newsroom in full flow, to make journalists stop and stare at the television screens on the wall. But during the financial crisis that raged from 2007 - ten years ago this month - there were too many such moments of sudden quietening.

Those of us watching could not know then that the aftershocks of the crisis would still be rippling out a decade later - in populism, stagnant wages and resentment of authority.

What famously began with the credit crunch of August 2007, built up over the course of more than a year until RBS almost went bust in October 2008.

There is nothing so