“We have just seen why, since 2007, growth has languished for reasons internal to the world financial system—the system of money and debt.”
“Problems arising from speculative overreach, real estate bubbles, and the inherent Ponzi dynamics of our global debt-based financial structures are endemic and profound. Still, if these were our only difficulties, we might reasonably expect that eventually, once they are sorted out (however painful the process may be), growth will return.”
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