Global Economy Looks to Be at a Turning Point, Blanchflower Says

The video discusses Blanchflower's prediction about the narrowing choices of central bankers and the Fed's mistakes, leading to a credibility gap. It highlights the global economic slowdown, trade wars, and potential financial crises, comparing the current situation to the Great Crash. The discussion includes Keynes' warning about prolonged economic slumps and the transition to a new economic era post-2008.

What does the speaker mean by 'long dragging conditions of semi slump'?

In what ways does the speaker suggest the world has changed since 2008?