Bad news about the economic outlook is coming from every corner of the globe and policymakers aren't sure what to do about it
During the Great Depression in the 1930s, thousands of people were swindled by Ivar Kreuger, the matchstick baron, who ran an elaborate pyramid scheme.
It was no surprise that he was exposed during a period of downturn when investors had lost their savings. Another sign of trouble came this week when the return on longer-duration US bonds fell below the short term securities. Investors locking their funds up for a longer period expect a better yield.
Unlike what happened a decade ago when the meltdown in the US housing market triggered a default avalanche in financial markets, what’s slowing industrial output in various countries including Brazil and the UK have different reasons.
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