The Bank of England has issued a stark new Financial Stability Report — and beneath the cautious language lies a clear message: the global risk environment has deteriorated sharply. From AI bubble valuations to fragile shadow banking systems, from overstretched credit markets to potential contagion across sovereign debt, a systemic crisis now looks more like “when” than “if”.

In this video, I explain what the Bank is really saying, why markets are repeating 2008 mistakes, and why the UK is deeply exposed.