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Re: Future of US and global economy

> What is to stop the US heading into a medium/long term economic downturn
similar to that experienced by Japan over the last decade?  And what are the
prospects for the global economy if that happens? >
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In the final analysis, inflation will pay off the debt. The exchange rate
will be left to deteriorate to cure structural imbalances. US Manufacturing
will strengthen. And, the world will, in the end, get back to that elusive
equilibrium. Until then, there will be pain. A lot of it. Austrian and
Keynesian economics will have a child in the process. The Keynesians will
give the Y chromosome.
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