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My “Most Important Chart in the World”

Business Insider has put together another excellent set of the world’s “most important charts in the world”.  The list is from “Wall Street’s brightest minds” and also me.  My contribution was Europe related:

“The divergence between the USA and the EMU remains the most important point of contention in the global economy.  While both monetary systems are similar in many ways (users of a single currency, no FX rebalancing, etc) the EMU has proven unworkable as there is no mechanism by which inherent trade imbalances can rebalance over time without massively deflationary and depressionary dynamics.
A restructuring of the EMU from its present state remains the greatest near-term threat to global stability, but also the greatest long-term potential benefit as few things are more important to global growth than a healthy functioning Europe.”