Beneath the rosy picture of the upturning global economy.
I would like to be optimistic that this upturn will be followed by a shallow recession and then continued economic growth. After all, banks have been recapitalized and companies are flush with cash. But on the household side of things, it’s a different story. What I see is rising economic and social anxiety and a broken social compact in advanced nations. This is feeding political populism, even as the economy enters its best phase of growth in a decade. When the economy turns down, the social, political and economic environment will be even more precarious. And the populism will be more extreme.Think Donald Trump is bad?
Credit Writedowns
Some thoughts on this global economic recovery amidst longer-term economic uncertainty
Edward Harrison
2 comments:
Buffett out last week implying a 20% upside in equity prices from the corporate tax cuts....
He is a person who buys a lot of stock and has to figure out what price would be appropriate fo pay....
And the populism will be more extreme. Ed Harrison
So it would seem that more time should be spent on thinking about reform and restitution rather than how to be the richest man in the tumbrel.
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