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Scott A. Millimet
We believe it is more than just the state of the balance sheets that is a burden to investors; it is the lack of secular, globally oriented solutions proposed by policymakers. Charts 4 and 5 below are emblematic of what ails the U.S. economy: The labor force is thought to be structurally ill-equipped to compete in a deleveraging global economy where the cost of labor is too expensive and where technology continues to replace workers.
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