In this interview Richard Koo set out his thoughts on the current GFC in a very succinct manner. I agree with him 100% up until the point he starts arguing for government stimulus to tackle the deleveraging.
My opinion is that he is exactly right that this event is a large scale ‘balance sheet recession’, which [...]
Ireland was once the darling of the economic world, proclaimed as the ‘celtic tiger’ it had a momentum that was seemingly unstoppable. Then along came the GFC and we now have the ‘celtic kitten’ .
Incredibly the 4 and a half million people of Ireland have a collective external debt of over 1.6 trillion Euros. Of course it [...]
This is the first in what will eventually be an extensive list of country based case studies examining the case for or against deflation around different corners of the globe. They will not all be the same, and I expect the analysis to evolve and develop as my own ideas change over time as well. [...]
Welcome to deflationite. Over time I hope to document and comment about currently the biggest deflationary episode to effect the global economy since the great depression.
The current world financial crisis has been fascinating and I have been keeping a close watch as events have unfolded. No one can really predict what is going to happen. [...]