Roubini Topic Archive: Currencies
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Another Summer of Discontent: The Four Factors that Explain Why What We’re Doing Isn’t Working
Here is what we know about the global economy given the experiences of the past four years: There is a global insufficiency of demand relative to an immense oversupply of labor and productive capacity. The imbalances between high-wage/current-account-deficit/balance-sheet-indebted nations and lower-wage, surplus nations have produced a glut of savings in the latter, relative to the opportunities [...]
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The Third Wave: Is America, Once Again, Pricing Itself Out of a Job?
Dear readers: I am in the process of writing a book for Penguin’s Portfolio imprint that incorporates many of the subjects and views I have presented over the years in Dan Alpert’s 2 Cents and in my writing for Westwood Capital, LLC. Accordingly, I have had little time to blog of late. Nevertheless, last week’s [...]
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Tinkerbell Economics – The Confidence Fairy, Pixie Dust and a Sleeping Dragon
While we may be hours away from a partial (and certainly a stopgap) agreement in the talks among the Greek government, the troika and private sector creditors, it is doubtful that a deal will emerge in a fully constructed fashion that will survive its application in the real economy. It is likely that the only common view amongst [...]
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The New Reality Show: Real Economists of the Ivory Tower
Title: Real Economists of the Ivory Tower Principal Plot: Inflation Is Not Proceeding from Large Scale Money Growth as Monetarists Would Expect. Keynesians Are Not Providing a Complete Enough Explanation to Laymen as to Why That Is So. Frustration and Name-Calling Ensues. And a Subplot: Warren Buffett Walks into a Bar. . . . Over recent [...]
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On Printing Euros and the Real German Fear (hint, it’s not 1923)
I am convinced that each time the € comes under pressure the Germans start screaming “NEIN, PRINT NICHT!” They are at it again today. As far as the German government is concerned, the European Central Bank is not, like other central banks, ever to be considered a lender of last resort. And in the absence [...]
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Some Perspective on the Roiling Markets and an Allusion to Great Literature
Toto pulled the curtain to reveal the Wizard of Oz and he ballooned back to Kansas – sometimes exogenous events set off the inevitable change in circumstances that are otherwise unsustainable.
