Ruffer trio: The seeds of the next crisis are well past the germination stage

Higher stakes and limited options

The managers of the Ruffer investment company have warned the next financial crisis is imminent as a result of a combination of a change in the "political winds" in the UK and central bank actions.

In the trust's annual report, managers Steve Russell, Hamish Baillie and Duncan MacInnes said the current situation in markets is only deferring the 'day of reckoning'.  The managers said: "To many the financial crisis is a distant memory and is viewed in the past tense. To us the sequence of events leading up to the crisis and those that have happened since 2008 have only managed to defer the day of reckoning - the seeds of the next crisis (or is it part of the same crisis?) are sown and are well past the germination stage. "2008 was a rap on the knuckles of the Western world. For to...