Financial crises are 'now the rule' and another shock is coming sooner than later, Yale economist warns

• Financial crises are the new normal in the current era, according to Yale economist Stephen Roach.
• A crisis arrives somewhere in the world on average once every three to four years, he estimated.
• "It is time to stop viewing crises as exceptional events and admit how frequently shocks actually occur."

Financial crises are the new normal, and a shock could be headed for the economy "sooner rather than later," according to Yale economist Stephen Roach.