Multi National Companies have never been stronger
In 2009 we
came up with 'The New Normal'" - characterized by persistently slow
economic growth, elevated unemployment, high levels of geopolitical tension
with social inequality and strife. It's pretty amazing how spot-on PIMCO has
been with this concept. They also produced the idea of multi-speed recovery in
2011 - an idea that perfectly encapsulates this dichotomy between
multi-national corporations (they have never been stronger) and
low-income households (quite a different story).
"When we first introduced the concept of The New Normal, it was dismissed at
idiotic and even fatalistic - by now it has become conventional wisdom, so
widely used that even the IMF has adopted it."
Re: the popularity of the term New Normal, "We probably should have
trademarked it, there is even a TV show that's using it."
PS The new normal is nothing more than a big oversupply of everything. In this world only the big corporations can prosper and survive. Globalization, information, internet, etc.... give a big advantage to the biggest player in each market. The middle of the pack (corporations or households) are doomed
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