Gordon Brown, former Prime Minister of the United Kingdom, thought he has abolished boom and bust when he was the Chancellor of the Exchequer. Of course, he was wrong. And for the record, he sold gold at the bottom of the market. He later admitted that there are two kinds of finance ministers: those who got out in time, and those who didn’t. Liu Shucheng, an economist at the Chinese Academy of Social Sciences, spoke on the macroeconomic regulation and other things a few days ago according to Xinhua. He studied economic cycles since the Communist regime took power in 1949, and made a few conclusions with regard to the ... (full story)