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The US economy is teetering on the edge of a precipice and risks falling into a pre-Industrial Revolution economic abyss, while American "believers in the grand myth of perpetual growth" continue to delude themselves, Paul Farrell stressed.
The American "New Mediocre" economy will eventually become permanent, while the United States, deluded by its mythical "exceptionalism" idea, is heading toward zero economic growth, warned Paul Farrell, an American writer and former investment banker with Morgan Stanley.
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