King spoke at the International Monetary Fund meeting over the weekend
- economists and policy makers seem scared to challenge old ideas
- were "sleepwalking" toward the next economic and financial crisis
- policy makers remain resistant to the idea that the global economy has entered a period of "secular stagnation."
- "It is surprising that there has been so much resistance to the hypothesis that, not just the United States, but the world as a whole is suffering from demand-led secular stagnation,"
- "It surely now time to admit that we are experiencing it,"
To deal with it, deeper economy reform is required
via Market Watch
