It is an old political trick. Declare a coming crisis before an election so the voters are scared of change. It often works but not always. It depends on who the voters trust most. At present they do not appear to trust anybody.
Cameron warns that the world in on the brink of another financial crisis. Might he be right? Sadly yes he just might. China, Japan and Russia are slowing (Japan has stopped), the EU is on the brink of recession, the Middle East is in chaos and Europe is destabilized because of the crisis in Ukraine. Huge amounts of QE have been pumped into the global financial structure since the last crisis, showing a big profit to the top 1% of the world population, but all the rest have seen their wages stagnate and their standard of living fall; their purchasing power has fallen as well. Meanwhile assets have become over-valued against productivity and demand. This may not yet be a crisis, but it is certainly the blueprint for one.
But if one is to issue lofty warnings it behoves a smart Prime Minister not to promote stupid things. And in the financial context there is nothing more stupid that the sanctions on Russia, which have almost brought European growth to a stop (Germany has been hit hard) and threaten the stability of the Russian financial system. It is now on the cards that a major Russian bank may go under. If one does it could well trigger a crash, just like Lehman Bros.
If that does not scare you it should and it is Cameron’s irresponsible finger which is on the trigger. He needs to think about that. So do we.