On multi-year recovery despite global tensions and other links
I will be on RT TV America tonight at 1745 ET talking about the G-20 and the Deficit Commission. Tomorrow morning at 1200 GMT (7AM ET), I will be on BBC World News saying more about the G-20. I hope I have something positive to say because there is a lot of friction right now for a world economy in recovery. My view is that we could be headed for a multi-year recovery if the housing problems in the U.S. are and the Irish situation is worked out. In that sense, I am more optimistic. My baseline is starting to move toward this multiyear recovery view again. But there are headwinds.
The US Economy
- Fewer Foreclosures but Worries Increase | Credit Writedowns
- Deficit Panel’s Leaders Push Cuts – WSJ.com
- Let the Games Begin: Bowles-Stimson, Defense, and the Way Forward | Capital Gains and Games
- Where the Bubbles Are – NYTimes.com
- White House Gives In On Bush Tax Cuts – Huffington Post
- Interview With German Finance Minister Schäuble: ‘The US Has Lived on Borrowed Money for Too Long’ – SPIEGEL ONLINE
- GOP Victory May End Government Economic Intervention – TheFiscalTimes.com
Ireland
- FT Alphaville » From Ireland to €2,000bn of eurozone contagion
- German Press: EU forges Emergency Plan for Ireland bankruptcy | Credit Writedowns
- How the Irish can prevent a bank crisis from becoming sovereign default | Credit Writedowns
- RBS Falls on $68 Billion of Ireland Loans and Sovereign Debt, Analyst Says – Bloomberg
- State will not charge for guarantee – Irish, Business – Independent.ie
- Total nationalisation of AIB looms as bond yields hit 8.7pc – Irish, Business – Independent.ie
- Immense Staatsschulden: EU schmiedet Notfall-Plan für Irland-Pleite – Politik – International – Handelsblatt.com
- Presseschau: „Irland ist faktisch insolvent“ – Magazin – Presseschau – Handelsblatt.com
QE
- Just What is Bernanke Up To? | Credit Writedowns
- Let’s talk about QE, inflation, and consumer demand | Credit Writedowns
- Gonzalo Lira: The Boiling Frog: Effects of QE2 On The Bottom 80% of the U.S. Population
Capital Controls
- New Rules for Hot Money by Nouriel Roubini – Project Syndicate
- Stiglitz urges capital controls to curb hot money| Reuters
The Usual Fare
- New Economic Perspectives: Is there a zero bound? The “mysterious” world of negative nominal interest rates.
- FT Alphaville » Moody’s didn’t get the memo re: China
- interfluidity » Moral heuristics, public policy, and self-defeating tribalism
- BBC News – Inflation ‘is higher for elderly’
- Dollar Flat, Euro Heavy | Credit Writedowns
- BBC News – China’s inflation rate hits a two-year high
- BBC News – Spain’s economic recovery stalls
- Gerhard Schroeder accuses George W Bush of ‘not telling truth’ in memoirs – Telegraph
- interfluidity » Tragedy of the technocrats
- New Film: Eliot Spitzer’s Main Escort Now a Commodities Trader – Deal Journal – WSJ
Tech Stuff and other links
- BBC News – Fox TV joins US networks to block Google TV
- Flip UltraHD (3rd gen) review | Flip UltraHD review | Camcorders | Reviews | PC Pro
- Why You Should Use AppBrain to Install and Manage Your Android Apps – Lifehacker
- Nexus One Hacked To Support T-Mobile WiFi Calling – Mobile Crunch
- Tottenham Has Full-Year Loss After Adding Players to Make Champions League – Bloomberg
Read more: https://www.creditwritedowns.com/news-feed#ixzz150bZBf5k
Steigender Konsum lässt Wirtschaft die Krise vergessen
https://www.handelsblatt.com/politik/konjunktur-nachrichten/konjunktur-steigender-konsum-laesst-wirtschaft-die-krise-vergessen;2691494
Daniel, we should hope consumption growth picks up in Germany because the export boom will fade if this Irish debt crisis continues. Germany is still too dependent on export growth for my tastes. Much of this is now geared toward the Chinese and EM but it makes the German economy exposed to a slowdown in global growth.