Strategists who work in places where the time frame can stretch generations generally see things differently from us mundane folks.
Insights from my lunch with a brilliant mind.
Things will only get painfully slow from here with flashes of exuberance or hysteria in between.
- No major credit crunch or large scale corporate failure expected because government backstops are all in place for the TOO BIG TO FAILS.
- Credit cycle is improving in the US and Europe is the wild card to emerge from their recessions. It is the EM slowing fears at the moment which may or may not capitulate, depending on China.
- EM, being the heart beat of the world, will translate to slower growth globally so we should expect a long grind.
It is such a serene world view that is shuttered from the current market psychosis but it confirms one thing – another lost decade ?
A lost decade that drives minds to feeble boredom and distortions of reality amongst the young ?
A shuddering thought evoked partly by this picture out of Straits Times.
