[Repost] Shipping cycles: something nasty in the woodshed?

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There are two nasty things in the woodshed. One is the tyranny of what the late Harold MacMillan, prime minister of Great Britain from 1956 to 1963, called “Events, dear boy, events”, such as the Iran/Iraq war, or as Donald Rumsfeld put it, “Reports that say that something hasn’t happened are always […]