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Finance: The age of debt

Borrowing has choked off growth, says George Magnus, but investors can still pick profitable paths forward

By George Magnus   September 2011

If, as an investor, you had been blessed with perfect foresight in early 2009, you might have made for the hills, armed with a suitcase of cash, a weapon, a tin helmet, and a stock of canned food. If the insurrections across north Africa and the Middle East, soaring energy prices, and rising inflation in emerging markets hadn’t put you off, you would have trembled at the aftershocks of the debt crisis. These have since included stop-start economic growth, budget cuts in the west, continuing falls in house prices. They also included an existential eurozone debt crisis and the rather…

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