The next financial crisis is coming – and it’s all Richard Nixon’s fault

We’re almost certain to see another financial crisis soon, says John Stepek. And you can blame it all on Richard Nixon.

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Blame Tricky Dicky for the next financial crisis
(Image credit: Steve Northup)

Good morning. A quick rundown of what's on the MoneyWeek website this morning if you fancy debating the effect of Brexit on farmers, have a read of Simon Wilson's briefing piece here and give us your views in the comments; get Matthew Lynn's take on bitcoin if you missed it earlier this month; and while today's Money Morning is mainly about bonds, it's worth remembering that stocks are pretty expensive too.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.