Embarrassment of Riches
A must read Andy Xie’s latest article.
The world grew wealthier in the first decade of the 21st century – but why does everyone feel poorer?
The right path forward is slower but results in more equitable growth. The most important policy change should be to move away from using liquidity to boost economic growth. It is the most important cause of inflation and rising inequality.
While food is getting more expensive, information is getting cheaper.
The combination is highly combustible. This year may see more political instability around the world.
the next crisis will start with either a collapse of the U.S. treasury market or inflation-induced hard landing in emerging economies. The timing is likely to be in late 2012.
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