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ECB’s Nowotny Cautions Against ‘Single-Minded’ Austerity – Real Time...
“The single-minded concentration on austerity policy (in the 1930s) led to mass unemployment, a breakdown of democratic systems and, at the end, to the catastrophe of Nazism,” said Ewald Nowotny...
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Milton Friedman’s Advice
In 1997 Milton Friedman commented on Bank of Japan policy following Japan’s deflationary spiral of the early 1990s: Defenders of the Bank of Japan will say, “How? The bank has already cut its discount...
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Fiscal consolidation in Sweden: A role model? | vox
By Martin Flodén, Associate Professor at Stockholm University Fiscal austerity was effective during the Swedish economic crisis, but that insight is not particularly helpful today. Austerity would have...
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IMF: Coping with high debt and sluggish growth [video]
The World Economic Outlook (WEO) presents the IMF staff’s analysis and projections of economic developments at the global level, in major country groups (classified by region, stage of development,...
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Europe’s Populists at the Gate by Barry Eichengreen – Project Syndicate
Barry Eichengreen writes: In focusing on summit declarations and promises of far-reaching reforms of EU institutions, investors are missing the real risk: the collapse of public support for, or at...
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Reid: Eurozone’s 2013 Nightmare Scenario | Business Insider
In his 2013 outlook, titled In Authorities We (have to) Trust, Deutsche Bank credit strategist Jim Reid warns that Europe is headed for tough times in 2013. Matthew Boesler at BusinessInsider writes:...
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Ray Dalio Explains The Rare Set Of Circumstances That’s Making Him Bearish On...
Joe Weisenthal reports on hedge fund guru Ray Dalio’s outlook: His novel set of circumstances he sees is an economy that faces austerity (due to the Fiscal Cliff, etc.) coupled with a Fed that’s mostly...
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Unintended consequences: Rewarding failure
Robert Shiller summarizes the arguments for raising taxes and increasing government spending at Project Syndicate: ……while that [austerity] approach to debt works well for a single household in...
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Cyprus: The Operation Was a Success. Shame the Patient Died. | Some of it was...
Pawelmorski (pseudonym for a london-based fund manager) gives this opinion of the EU ‘rescue’ of Cyprus : How bad is the damage? Bloody appalling…… Take a moment to realise the scale of what’s been...
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Debunking austerity claims makes no difference to Europe’s monks and zealots...
Ambrose Evans-Pritchard attacks euro-zone austerity: Britain’s public debt was 260pc of GDP in 1816 at the end of near perma-wars: Seven Years War, American War of Independence, and the Napoleonic...
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The monetary policy revolution
James Alexander, head of Equity Research at UK-based M&G Equities, sums up the evolution of central bank thinking. He describes the traditional problem of inadequate response by central banks to...
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Explaining Richard Koo to Paul Krugman | SNBCHF.com
George Dorgan writes: ….Prof. Steve Keen’s and Richard Koo’s recipe is to increase public debt, when the private sector is de-leveraging and to reduce public debt when the private sector is leveraging....
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