Source – charleshughsmith.blogspot.com
– “…Rather than face that reality, central banks and policy-makers double-downed on the same policies that created the 2008 bubble that was destined to pop with horrific consequences to everyone who had a stake in any of the casino’s games. We now come to the 2010s, in which financialization and globalization essentially conquered the global economy, leading to the brittle fragilities that are now unraveling”
How We Got Here: the Global Economy’s 75-Year Stumble to the Precipice
Not only will there not be a recovery, but there can’t be a recovery, as those brittle extremes have been lost for good.
How did the global economy end up teetering on a precarious financial precipice? To formulate a cogent answer, let’s take a whirlwind tour of the history of the global economy 1946-2020.
Before we start the tour, I want to return briefly to my first Musings of…
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