Nothing has been more disruptive to global order in this last decade than the global economy. The financial crisis that began in the United States in 2007 with the sale of securitized mortgages exploded into a global banking and financial crisis whose effects are still being felt today.  It spilled over into Europe, and exacerbated a financial downturn that continues to ravage the poorer members of the European Union. 

Only the United States and Canada seemed to escape these dire consequences. Today, the U.S. economy is fundamentally at full employment, but economic anxiety is high in depressed parts of the country. It is not an exaggeration to say that President-elect Donald Trump is one consequence of the global financial crisis. 

Despite a decade of work, few experts are confident that the global financial system is much less vulnerable to disruption than it was ten years ago. 

To help us grapple with this dismal prediction, Sherry Cooper, one of Canada’s outstanding economic analysts and a longtime observer of the global financial system joins us.