We have argued that this is a depression just not a great one, but the VOX survey on a A Tale of Two Depressions is shocking in its simplicity and in its compelling story. A comparison of key global variable shows are an a path similar to the Great Depression even with the significant stimulus of governments around the world. What is the scariest picture is the slowdown in world industrial production.
We have argued that the trade and industrial production decline is much greater in other parts of the world than in the US and this will have a strong impact on the global world order. Trade wars are still likely. The US has been cushioned from some of the fall, by aggressive easing, yet the business press has been too US-centric to truly report on the global trade and production problem.
We have argued that the trade and industrial production decline is much greater in other parts of the world than in the US and this will have a strong impact on the global world order. Trade wars are still likely. The US has been cushioned from some of the fall, by aggressive easing, yet the business press has been too US-centric to truly report on the global trade and production problem.
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