The end of Ponzi profits

Have we spent too much for too long ? Are the clever financial instruments that were supposed to prop up the system starting to buckle? According to economist Satyajit Das we’re in a botox economy where things have been desperately covered up to conceal the truth. Greece, Spain, Portugal and Italy, he says, are just the front carriages in an impending financial train wreck. Also on board, he believes, are all the world’s major economies. It’s a pessimistic and sobering perspective on the consequences of too much debt.

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