I never thought that I would agree with Bill Gates in his assessment of the current economic situation.
He remains optimistic in that there will be a solution and that this temporary "stagnation" (as opposed to a "down-turn") will eventually sort itself. He was hinting, but didn't come out and say directly, that a global economy that is based on perpetual growth is not sustainable. The extension of the debt crisis is fueled by the desire to return to a situation of growth.
Perhaps the "stagnation" is the new normal.
He remains optimistic in that there will be a solution and that this temporary "stagnation" (as opposed to a "down-turn") will eventually sort itself. He was hinting, but didn't come out and say directly, that a global economy that is based on perpetual growth is not sustainable. The extension of the debt crisis is fueled by the desire to return to a situation of growth.
Perhaps the "stagnation" is the new normal.
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