The Corner

The World Economy Staggers Along

From my most recent NRO article, on the global economic outlook: “Nothing profoundly useful is going to happen until the major countries reform entitlements and make them affordable to their aging societies, and attach their currencies to some measurement of value that holds governments accountable to inflation in key areas, and not just the recent mixture of inflation and stagflation that produces acceptable averages but much discomfort. We will not drink ourselves sober, even by fiddling with the size of the whiskey bottle and the draft-beer glass.”

Whether you agree or disagree, your comments are, as always, most welcome.


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