We start today’s podcast discussing further elements of the Western financial system which pose a serious risk to its stability and why a cavalier approach continues to undermine the lessons that should have been learnt in 2008. We also look at the recent announcements from Europe which highlights why sovereign nations are in a debt trap from which there is no escape. We then move onto recent statements made by the new Japanese PM Ishiba which have caused anger and consternation amongst the ASEAN nations. We conclude by assessing why a recent statement by the LME is another critical indicator of the changed coming in global commodities markets