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NOTHING IS PERMANENT EXCEPT CHANGE

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Economists who assure us that advanced-economy debt is completely “safe” sound eerily like those who touted the “Great Moderation” – the supposedly permanent reduction in cyclical volatility – a generation ago. In many cases, they are the same people.

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https://www.cnbc.com/2019/05/09/chinas-liu-he-will-dine-with-lighthizer-ahead-of-trump-tariff-deadline.html https://www.cnbc.com/2019/05/09/stock-market-us-china-trade-tensions-continue.html https://asia.nikkei.com/Opinion/Time-for-China-to-truly-face-the-market

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