Singapore is showing the world that Keynesian stimulus and devaluation is not the true route to economic salvation.
Once such supra national taxes are established, they suffer from very little if any democratic supervision.
While some continue to argue that the US can only get its fiscal house in order by running trade and/or budget surpluses, it would seem the US’s official gold stock could be revalued to the extent that no trade or budget surplus is necessary as any sort of precondition.
Free markets are not to be blamed for the Great Recession. On the contrary, its origins rest upon the deep government and central bank intervention in the economy.
It looks as if the populist model may exhaust itself economically, too. All that is required is a sustained fall in commodity prices.
EMU’s quagmire seems to make the Anglo-Saxon economies shine brighter than fits reality…
DB Research comments on China, the EU’s banking union and the outlook for Europe’s financial system.
Lower tax burdens, less onerous regulation, and the end of state sponsored crony capitalism will energize real businesses.
Policy-administered asset monetization would stop the global financial system from seizing, restore sorely needed economic balance, and reset commercial incentives so that real growth can once again gain traction.
As the curtain eventually falls on the drama unfolding in Europe, the world will refocus its attention on the more spectacular events in the U.S.
Why and how the global monetary system is failing, why it is too late to stop, what will come next, and why the crisis is only financial – not commercial.
OECD Leading Indicators – Reliable?
When currencies fail to adjust something else has to give.
Michael Hudson’s presentation for the session “The Challenge of Deleveraging and Overhangs of Debt II: The Politics and Economics of Restructuring” at the Institute for New Economic Thinking’s (INET) Paradigm Lost Conference in Berlin.
A common denominator runs throughout recorded history: a rising proportion of debts cannot be paid.
The share of the BRICS in global GDP (at PPP) will rise from around 25% currently to about 30% in 2016.
Just like its mythological predecessor, our Global Minotaur kept the world economy going for decades…
If one assumes as I do that no leader on either side of the Atlantic has the courage to face the music, then there can be little reason for optimism in 2012.
Presentation of Yanis Varoufakis’ book “The Global Minotaur: America, the true causes of the world economy and the future of the world economy.”
Fundamentals and incentives point the way to an optimistic outcome for the majority.