> For now, the magnitude of this problem is smaller I am not sure about that. In 2008, it was only a crisis in the US real estate lending market that became co

> For now, the magnitude of this problem is smaller I am not sure about that. In 2008, it was only a crisis in the US real estate lending market that became contagious. Now, it is a crisis of global inflation. All long-term loans were granted by the banks in recent years with the expectation of much lower interest rates. Their prices were ment to cover the risks. Sinces all such loans were too cheap, they actually do not cover the risks appropriately. This means that banks worldwide will face large deficits in the foreseeable future.