Daily commentary: thoughts on austerity as a policy tool and on India as a black swan

The news flow today is about the same as it has been throughout the week: JPMorgan Chase and Facebook in the US and Greece and to a lesser degree now Spain in the EU. I think these are the wrong narratives to be focused on. As I wrote yesterday, I believe China will suffer a hard landing but that India will be worse than China. In my view, the economic slowdown in India is the biggest story that's not making headlines.

Then there is the debate over austerity. I posted on how we had the sa...


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