Businesses are producing same GDP as in 2007 with 7.5m fewer workers. That cannot last…" (Economist)
Average 3,3% real GDP growth is needed just to keep the unemployment rate stable. At 2,0% real growth, the jobless rate rises over 1% per year.
Gary Shilling
PS Tomorrow i am going to London to visit HF for the rest of the week. The weather is frezzing but no rain.
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