More thoughts on the global recovery

This is going to be a brief post as the Thanksgiving holiday in the US nears. I will be off today and Thursday and will not post. I may have some comments on Friday. Here I just wanted to extend my thought process yesterday toward a more upbeat thinking.
The gist of yesterday’s post was that we are in the middle of a global cyclical upswing in which all of the main world economies are n recovery. The US, Europe, China and India in particular are experiencing economic growth to varying degrees. And all indications are that this growth will continue for the foreseeable future. Aiding growth in Europe and the United States is monetary expansion. But when and why will this expansionary phase end and what will the outcome be?

Yesterday, I said that, “I tend to believe this ends badly, in cr...


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