The economic forces – those post war strong tailwinds – that have shaped the last 35 years, and which accelerated gilded journeys through the western “plentiful era,” are no longer blowing in a favourable direction. They were already slowing, but now are reversing. The winds now have shifted 180° in direction – they are gusting headwinds. This is a structural shift within a long cycle. There are no quick “silver bullet” solutions. The “Cabaret” good-time years are gone. We will have to “make...
