KWN weekly – May 2, 2014
Greyerz: How can the world economy function at all with near zero interest rates in many countries, massive debts, and by printing more money than ever. And despite all of this, GDP is not growing.
“First quarter GDP in the U.S. was 0.1 percent annualized, and that will probably be revised lower. And we have record unemployment in Europe and in the U.S., and most countries are running major deficits. But stock markets are somehow still at the highs. The problem is; there is no morality or integrity because society has become so corrupt.