On “Seven More Years of Hard Times?”

Cogent conclusion of an interesting (somewhat technical)  review of some important recent research on periods of economic recession and financial crises.  In short, we are in this for the long haul.

It is not true that if you break a mirror, you will have seven years’ bad luck. That is a superstition. But if you allow a financial market to spin wildly until it breaks down, it really does seem that you run the risk of years of economic malaise. That is a historical pattern.

via Seven More Years of Hard Times? – Project Syndicate.

About Stephen E. McGaughey
International consultant in financing development programs and projects

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