More people left poverty in the past 70 years than in the whole of history, thanks to the BabyBoomer-led economic SuperCycle. World Bank and OECD data show that less than 10% of the world’s population now live below the extreme poverty line of $1.90/day, compared to 55% in 1950. Globalisation has been a key element in […]
Chemicals and the Economy
‘Who is this guy Margin that keeps calling me?’
I am indebted to Paul Krugman for passing on this piece of black humour, now going the rounds in financial markets. Unfortunately, these problems are getting closer to home. Carlyle, who have a number of private equity investments in chemical companies, defaulted on a $16.6bn bond fund today.
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