Courtesy of John Rubino.
China’s most recent borrowing binge didn’t work, while Japanese and European negative interest rates sent their currencies up rather than down. The result: Global growth is slowing and governments are panicking. Look for fiscal stimulus to pick up the slack in the year ahead — that is, bigger deficits, more government borrowing and maybe even the fabled debt jubilee. Precious metals love this kind of thing, so after the coming correction, look out.
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