Are We Poised on the Precipice of Another Age of Turmoil? →
Kondratieff posited that an economic cycle of debt buildup and repudiation repeats every 50-60 years. Given the enormous borrowing binge the world has gleefully embarked on during the past five years, it’s difficult to dismiss Kondratieff’s fundamental insight as entirely wrongheaded.
Many in his camp believe we are entering the “winter” phase which will culminate in a collapse or repudiation of all that debt. It’s something to consider, given one irrefutable fact: no economy runs up forever in a straight line of unending growth.
A fascinating technical and historical analysis of the current economic situation.
