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On wealth taxes as a talking point and Germany’s leading role in Europe
Here is the video of an interview I did with Max Keiser on the situation in Europe. A lot of our discussion revolves around why the Germans actually do want a cohesive Europe but feel compelled to pursue the present policy path. We also…
Why the Reinhart-Rogoff paper was flawed right from the start
Reinhart-Rogoff’s paper has more serious flaws than an excel error. And austerity hysteria will not go away after Herndon-Ash-Pollin’s review. This is my message to you.
Some thoughts on the Fed’s QE stance
A week ago I wrote that I believed QE will end this year after tapering off in June. I stand by this stance. However, we have heard from three Fed officials in the interim and I wanted to pass on what they are saying to gauge how likely it…
On Japan’s widowmaker trade and Reinhart and Rogoff
I was on the Daily Ticker with Lauren Lyster talking about Japan yesterday. My view is that there is no material negative change in Japan's sovereign debt outlook nor will there be in the medium term because of Abenomics. The video is at…
Chart of the day: Germany’s shrinking working-age population
I caught this FT graphic via David Wessel yesterday. It shows you that while the labour force in the Euro Zone as a whole generally continues to grow, the labour force in Germany has shrunk. During the euro era, Germany's labour force…
Merkel: Germany ‘too weak to withstand more stimulus’
I have been saying for some time now that Germany is concerned about its own public finances. So it is good to see that Angela Merkel is now confirming this. According to the Telegraph, Merkel believes that Germany simply doesn't have the…