Watch RGE’s Senior Director of Research David Nowakowski talking about the eurozone and the need for more easing, ahead of Thursday’s ECB policy meeting. Source: Bloomberg Television’s “Countdown.”
Ah, the Eternal Sunshine of the Recessed Mind! Here’s an unintentionally–but riotously–hilarious mea culpa by Olivier Blanchard: http://www.imf.org/external/pubs/ft/fandd/2014/09/blanchard.htm. Here’s the CliffsNotes version: Yes, we didn’t see nothing coming. But that isn’t our fault. The Global Financial Crisis—the biggest calamity since 1929—was invisible to us because it had been lurking in the dark corners of the [...]
The latest data from the Bureau of Economic Analysis show that US GDP grew at a 4.2 percent annual rate in the second quarter of 2014, even more strongly than previously reported. Corporate profits showed the beginnings of a rebound from their winter slump. Although they remain short of the all-time highs reached over the [...]
Iraq, Ukraine and other geostrategic hotspots.
NEW YORK – The escalating conflict in Ukraine between the Western-backed government and Russian-backed separatists has focused attention on a fundamental question: What are the Kremlin’s long-term objectives? Though Russian President Vladimir Putin’s immediate goal may have been limited to regaining control of Crimea and retaining some influence in Ukrainian affairs, his longer-term ambition is [...]
Because of rapidly approaching debt constraints, China cannot continue what I characterize as 'investment overshooting' economic polices for much longer (perhaps three or four years at most)...The longer this kind of growth continues, the greater the risk that China reaches debt capacity constraints, in which case the country faces a chaotic economic adjustment.