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21 April 2010


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John Doe III

Somehow it appears that this is a common pattern in history. A long prosperous dynasty that had developed all sorts of rigidity that cannot be overcome by a wholesale reset. The Washington dynasty had given us much more than many others in history, but at this point in history it appears that we are reaching the beginning of the end.


It is amazing the 'sensational U.S. recovery' is being fueled by the same shenanigans that led to the 2008 crisis. An economic recovery that is made possible by incurring further debt will inevitably have a lamentable ending. At some point the lack of regulatory and moral accountability and the callous disregard of rational economic principles will come home to roost.

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John Ross

  • Is Senior Fellow at Chongyang Institute for Financial Studies, Renmin University of China

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