Here's a direct quote from Mohamed El-Erian, CEO and co-CIO of PIMCO, a global investment management firm:
In the last three plus years, central banks have had little choice but to do the unsustainable in order to sustain the unsustainable until others do the sustainable to restore sustainability!
Still think we're living in normal times? At what point do American and European economies wean themselves off unsustainable, and begin to embrace long-term sustainable practices? And what happens if we don't get started in time, and the unsustainable falls apart before the sustainable can replace it?
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