Magical thinking

NegativeRatesThe inimitable Ben Hunt writes in his view, the global economy — particularly the U.S. economy and the Chinese economy — is more robust than regulators tend to let on. He thinks that the U.S. can still grow its way out of the massive debt the country has taken on. He goes on to comment on the fact that the high priests of the economy have encouraged 'magical thinking'; an unquestioning adoption of the world view of the regulators. This, he says will have troubling consequences. Read more