Marc Faber: "In Democracy you have incompetent people at the top. I think it’s a symptom of the new world order I was referring to where the balance of economic power has shifted to Asia and emerging economies. This becomes very clear if you look at European companies. Where do they grow? Not in Europe..."
Nouriel Roubini: "It now appears — based on European Central Bank (ECB) president Mario Draghi’s recent Jackson Hole speech — that the ECB has a similar plan in store for the eurozone. The first element of "Draghinomics" is an acceleration of the structural reforms needed to boost the potential output growth. But Draghi recognises that the eurozone’s slow, uneven and anaemic recovery reflects not only structural problems, but cyclical factors that depend more on aggregate demand than on aggregate supply constraints. Thus, measures to increase demand are also necessary."
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