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ROACH: CRISES ARE BECOMING MORE FREQUENT AND LARGER

As we continue to roll debt from consumers to corporations to governments the effective Ponzi scheme only grows with time.  Stephen Roach of Morgan Stanley Asia says this is the cause of larger and more frequent crises.  As Tom Keene says, the only way to truly end a debt crisis is to “clear the system” as they did in Asia in the late 90’s.  Unfortunately, we continue to kick the can down the road.

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