Opinion: (Alexei Kudrin, Russia’s Finance Minister): “The world economy faces a lost decade of low growth even though it is still possible to stave off another global recession, Russia’s finance minister was quoted as saying on Saturday. ‘We are probably faced with a lost decade. It is already obvious that growth rates are going to be low,’ Alexei Kudrin told Russian reporters on the sidelines of the G20 finance ministers meeting in Washington. ‘The fight with a fading of growth is going to take many years, most likely 5-10 years,’ added Kudrin.”
My Comment: If there are no extraordinary events, wars, or disasters, the economy will never grow again, and the world will gradually realize that man was created not for unrestrained pursuit of elusive happiness in wealth, power, and fame, but for reasonably limited consumption and unlimited spiritual growth.
In the name of what should we hope for the continuing growth? The rich get richer, the poor get poorer! The crisis is not financial, but of the world we have created. Either the Finance Minister does not understand it, or he is stretching the truth….