debt

My friend Rob Parenteau doesn’t think it will. His argument against it is similar to the one I have been making about the origins of this crisis. Here’s what I said.

These numbers are well under the inflation rate and show British consumers becoming victims of stagnating and negative real wage growth.

This is an argument in favor of not avoiding recession but of avoiding depression.

A little more than a year ago, many investors were worried about the US state and local government finances. There were genuine concerns that what was happening in Greece could very well be the future of numerous US local governments. Yet…

An excerpt from "The World In Depression" by Charles P. Kindleberger

On how the expectations theory of interest rates explains why debt-induced depressions are fundamentally deflationary in nature.

As I see it, we cannot continue with the existing currency arrangement. Countries like Spain (I am reverting to my habit of calling all the deficit countries “Spain” and all the surplus countries “Germany”) simply will not adjust quickly…

The earnings estimates on the S&P must go down significantly. With the problems in Europe, and then the potential slow-down in China (after building more residential and commercial construction than presently needed) we would have to…

The overall gist of Jim Chanos' comments on Bloomberg yesterday were that China has off-balance sheet contingent liabilities due to its implicit commitment to state-owned enterprises which are kneee-deep in land and property speculation.…

There is a road open for China involving controlled inflation that would lead to re-balancing, both domestically and internationally, which has some uncertainties. These must be compared to those of sustaining the export-led growth model,…