Most advanced industrial countries are in their "worst-ever peacetime financial shape" and...

|By:, SA News Editor

Most advanced industrial countries are in their "worst-ever peacetime financial shape" and "restoring fiscal balance will be a drag on growth for years to come," Willem Buiter says in Citi's Global Economics View. The U.S. is "a more polarized and divided society than at any time since World War II," suggesting that only a massive crisis can prod politicians into fixing anything.