• Two years ago, the world economy looked downright scary, with secular stagnation ravaging much of the developed world, stagnant wages, low productivity growth and various serious crisis spots.
• But growth returned and it took the immediate sting out of these dangerous situations, like a eurozone break-up, Chinese capital flight and emerging market dollar debt.
• While we have new problems which are much more benign, the old problems haven’t disappeared though.

Source: Just What The Doctor Ordered | Seeking Alpha