“Growth rates began to decline at least 40 years ago. Today’s rates are not extraordinarily low. And nobody really knows why this is happening. A steadily declining GDP growth rate seems to defy our assumptions about the way the world works.  This discussion might be merely inconsequential; instead, the future of the United States of America, Europe, Japan and the entire world economy hangs on it.  Growth − more GDP… more jobs… more revenue… more people − is also what every government in the developed world desperately needs. Without it, their deficit spending (all are running in the red) leads to growing debt and eventual disaster.”

http://www.thedailybell.com/28469/Bill-Bonner-Promises-Will-be-Broken

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