Thursday, November 3, 2016

A recession in the West would not be such a bad thing

It's not politically correct to say it, but for the social system of the Western world and for capitalism a serious recession would be desirable, because the financial sector as a percentage of the economy is still too big.

In 1973 when I came to Asia everybody said that if the US sneezes, then Asia catches a cold, because all Asia's exports went to the US.


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