News Links: Yuan Limit Down for Ninth Straight Session

  1. Dave Holden says

    Eurozone crisis: hopes of recovery recede while recession looms

    “According to the Bank paper, the flaws in the current international
    system are so serious that a “rules-based system of global economic
    management may be needed, using hard incentives such as tariffs or
    capital controls”. That might give governments space to create jobs and
    enhance wellbeing, which is what economic policy is supposed to be
    about, after all.”

    1. Anonymous says

      For quite some time I have felt that capital controls were essential. In the last decade the UK banks went from no borrowings to more than £800 billion of oversea debt and now that is a problem. If they had not been able to borrow so much then banks would have had to increase interest rates to cut off demand for loans and that might have stemmed the housing bubble to some extent. Central bank regulators failed to see the downside of such debts, although that still does not exclude banks from the mess that they got themselves into. So the deregulation has not protected the public in fact it has made them even more liable to payouts because of bank incompetence. We need to unwind the bank deregulation completely. 

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