First is Nouriel Roubini reminding us that although we are likely to see a couple of positive growth quarters born of government stimulus, there are significant problems still overhanging the world recovery and why the Euro zone is in worse shape than the US. See Ambrosetti forum 2009: The Rising Risk of a Double Dip.
And from the World Economic Forum meeting in China this week, FANG XINGHAI, Director-general of the Shanghai Metropolitan financial services office, on the need for China financial reform and why Chinese people are culturally averse to spending on credit. See Fang Xinghai on The need for China financial reform.
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Cory’s Chart Corner
Load MoreNot sure why this is so shocking to folks...the data is all around us. h/t @FroehlichThors1
Thorsten Froehlich @FroehlichThors1I mean - guys - this is real
since 1 April 2021, post COVID
(1) Savings rate dropped 90%
(2) Credit card balances up 28%
(3) # of credit cards up 62% (more credit cards / capita)_________________________
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