{"id":342,"date":"2011-08-20T17:26:51","date_gmt":"2011-08-20T21:26:51","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=342"},"modified":"2011-08-20T17:26:51","modified_gmt":"2011-08-20T21:26:51","slug":"innovate-or-die-macrobusiness-com-au-macrobusiness-com-au","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/20\/innovate-or-die-macrobusiness-com-au-macrobusiness-com-au\/","title":{"rendered":"Innovate or die &#8211; macrobusiness.com.au"},"content":{"rendered":"<blockquote><p><span style=\"color:#008080;\">Spence says it has not yet been fully recognised that the economic malaise is not just a cyclical downturn caused by excess debt, over-consumption, low interest rates and lax regulation, but part of a long-term structural change brought about by globalisation and technology, which are shifting the comparative advantage in a range of industries and services towards the developing world.<\/span><\/p>\n<p><span style=\"color:#008080;\">Europe, the US and other advanced economies must make long-term reforms to labour markets and boost productivity as well as encourage public and private sector investment in infrastructure, education, skills and training to remove growth constraints. Short-term fixes, such as Europe\u2019s bailout packages and the US Federal Reserve\u2019s promises of low interest rates for longer, can do little more than \u201ckick the can down the road\u201d, he says.<\/span><\/p><\/blockquote>\n<p>via <a href=\"http:\/\/www.macrobusiness.com.au\/2011\/08\/innovate-or-die\/\">Nobel laureate economist Michael Spence| as reported in Innovate or die &#8211; macrobusiness.com.au<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spence says it has not yet been fully recognised that the economic malaise is not just a cyclical downturn caused by excess debt, over-consumption, low interest rates and lax regulation, but part of a long-term structural change brought about by globalisation and technology, which are shifting the comparative advantage in a range of industries and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/20\/innovate-or-die-macrobusiness-com-au-macrobusiness-com-au\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Innovate or die &#8211; macrobusiness.com.au&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29],"tags":[],"class_list":["post-342","post","type-post","status-publish","format-standard","hentry","category-the-big-picture"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Innovate or die - macrobusiness.com.au - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Innovate or die - macrobusiness.com.au - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Spence says it has not yet been fully recognised that the economic malaise is not just a cyclical downturn caused by excess debt, over-consumption, low interest rates and lax regulation, but part of a long-term structural change brought about by globalisation and technology, which are shifting the comparative advantage in a range of industries and &hellip; 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Here is my take on how this is likely to pan out. First, let's start with a template of what a healthy, growing economy looks like. A Virtuous Cycle Growth is dependent on two\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"Private Investment\/GDP & Real GDP\/Total Non-farm Payroll","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-11-14-gpdi-gdp.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-11-14-gpdi-gdp.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-11-14-gpdi-gdp.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":10582,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/08\/09\/why-is-the-yield-curve-flattening-pragmatic-capitalism\/","url_meta":{"origin":342,"position":2},"title":"Why is the Yield Curve Flattening? | PRAGMATIC CAPITALISM","author":"ColinTwiggs","date":"August 9, 2014","format":false,"excerpt":"Interesting view from Cullen Roche: Most fixed income traders view long rates as a function of the economy and short rates as a function of the Fed\u2019s views on the economy. So, when the Fed increases rates it means that the Fed thinks the economy is improving and needs some\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57467,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/09\/13\/gold-breaks-out-to-new-high\/","url_meta":{"origin":342,"position":3},"title":"Gold breaks out to new high","author":"Colin Twiggs","date":"September 13, 2024","format":false,"excerpt":"Gold broke resistance at $2,525 per ounce, signaling another advance with a target of $2,600. Silver also made solid gains as the Dollar weakened. Markets anticipate a Fed rate cut at next week's FOMC meeting, with 10-year Treasury yields below 3.7%. The S&P 500 rally continues, approaching another test of\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-09-12-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-09-12-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-09-12-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":13714,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/02\/03\/are-us-corporate-profits-sustainable\/","url_meta":{"origin":342,"position":4},"title":"Are US corporate profits sustainable?","author":"ColinTwiggs","date":"February 3, 2014","format":false,"excerpt":"Fierce debate has been raging as to whether rising US corporate profits are sustainable or likely to shrink, leaving the market overvalued. Consideration of some of the key contributing factors will enable us to assess if and when this is likely to occur. Interest Rates Low interest rates are clearly\u2026","rel":"","context":"In &quot;Market Insights&quot;","block_context":{"text":"Market Insights","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/market-insights\/"},"img":{"alt_text":"Corporate Profits and AAA Bond Yields","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/corpprofits-aaayields.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/corpprofits-aaayields.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/corpprofits-aaayields.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":11957,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/06\/17\/interest-rates-and-inflation-hurt-gold-prices\/","url_meta":{"origin":342,"position":5},"title":"Interest rates and inflation hurt gold prices","author":"ColinTwiggs","date":"June 17, 2015","format":false,"excerpt":"Where is inflation headed? The five-year breakeven rate (5-Year Treasury Yield minus 5-year TIPS) is hovering around 1.80 percent, close to the latest readings for core CPI. The market is anticipating low inflation for the next few years. Long-term interest rates are rising in anticipation of Fed tightening. 10-Year Treasury\u2026","rel":"","context":"In &quot;Fixed Income&quot;","block_context":{"text":"Fixed Income","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/fixed-income\/"},"img":{"alt_text":"Five-year Breakeven Rate and Core CPI","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-18-inflation.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-18-inflation.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-18-inflation.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=342"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/342\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}