by John Charalambakis

We live in a delusion. We face a sea of risks and we contemplate if we need more debt. This is like asking a diabetic if he needs more sugar. The global economic system faces a good chance of collapse in the foreseeable future and we are wondering if Draghi’s moral suasion can turn the tables, or if a 25 bps increase in short term rates could kill the growth prospects. This is just absurd. I am looking for existential disruptors that can awaken us all.

Since the financial crisis a temporary ceasefire has been set that resembles the demarcation line; however the real causes (see numerous previous commentaries on the subject) have not been addressed.

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The views expressed on are not necessarily those of the Austrian Economics Center.