Globe and Mail interview with Niall Ferguson. long and interesting interview about the fate of the global economy.
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this post was added on wednesday february 25th 2009 around 7pm. it was added to the link category and was tagged: canada, economy, usa, world
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I’ve been pondering for quite a while the possibility that real growth didn’t occur in the last economic cycle. This article refers to the availability of inflated home equity money making its way into the market. I also think there are numerous other examples, federal spending included of how credit was used by all, and digested as ‘growth’
I think the US in its debt position, military costs, will be in a situation that makes growth without massive elasticity in credit virtually impossible.
I think developing nations, at this moment are the only places where real growth will occur in the next economic cycle.