PIMCO’s El-Erian: Stable Disequilibrium and T-Junction
PIMCO’s El-Erian revisited its new normal theory. He now believes that the new normal theory is “stable disequilibrium”; that is,  ”an economic and financial configuration that superficially appeared stable but was in fact increasingly unstable in its key foundations and drivers.” He pointed out five reasons behind his reasoning:  Overdependence on central bnaks Highly unbalanced [...]
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