Destabilised by a US debt dream

With the majority of US economic activity coming from inventories, the country's recovery looks just as unsustainable this year as it did in 2010 and 2011 – unless income growth stops contracting, Hoisington's Lacy Hunt warns.

Dr Lacy Hunt, executive vice president of Hoisington Investment Management (which has $US5.6 billion in assets under management), was one of the first leading US economists to highlight the problems associated with the Fed’s quantitative easing programs.

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