Lots of smooth talking in that podcast. Yes, world industrial output is at record highs. There is no shortage of demand. The boom in easy credit has caused world wide glut in both production and consumption.
I liked the comment in the podcast that in the US they are not seeing (much) of a trick down wealth affect to the consumers, working people. The Oil price cut is the result of high productively in oil extraction. This productivity is offset by the very high cost of investment and debt servicing. All the profits go to the banking sector and the emerging economies.
The financial power rests with the Finance, Insurance, Real estate and Superannuation sector. When rates go up they will go up fast. This has been the case in past rate raises. Who know when the central banks will increase rates, but the move will be a financial shock.
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