Why the global economy has peaked in the short to medium term
zksyncenjoyer.substack.com
tldr: demographics look bad and global debt is at unsustainable levels On a Monday morning in the late summer of 1931, the lobby of the First National Bank of Ogden, Utah, was jammed with nervous depositors. Another Ogden bank, older and more distinguished, had failed to open that morning. Prudent citizens figured First National would be next, one more victim of the bank panics sweeping the country. “We can’t break this run today”, Mariner S. Eccles, the forty-year old president, told his tellers. “The best we can do is slow it down. People are going to come here to close out their savings accounts. You are going to pay them. But you are going to pay them very slowly. It’s the only we have to deal with the panic.
Why the global economy has peaked in the short to medium term
Why the global economy has peaked in the…
Why the global economy has peaked in the short to medium term
tldr: demographics look bad and global debt is at unsustainable levels On a Monday morning in the late summer of 1931, the lobby of the First National Bank of Ogden, Utah, was jammed with nervous depositors. Another Ogden bank, older and more distinguished, had failed to open that morning. Prudent citizens figured First National would be next, one more victim of the bank panics sweeping the country. “We can’t break this run today”, Mariner S. Eccles, the forty-year old president, told his tellers. “The best we can do is slow it down. People are going to come here to close out their savings accounts. You are going to pay them. But you are going to pay them very slowly. It’s the only we have to deal with the panic.