Tim Duy: The Final End of Bretton Woods 2?, by Tim Duy: The inability of global leaders to address global current account imbalances now truly threatens global financial stability. Perhaps this was inevitable – the dollar has not depreciated to a degree commensurate with the financial crisis. Moreover, as the global economy stabilized the old [...]
about 1 day ago - No commentsVia MarketWatch: Summary of IMF meeting communique Global economy: “Economic recovery is proceeding, but remains fragile and uneven across the membership. Faced with this source of potential stress, we underscore our strong commitment to continue working collaboratively to secure strong, sustainable and balanced growth and to refrain from policy actions that would detract from this [...]
about 1 day ago - No commentsWASHINGTON (Reuters) – China’s central bank governor Zhou Xiaochuan hit out at rich countries on Saturday, telling the International Monetary Fund that high debts, low interest rates and unconventional stimulus policies were a fundamental global problem and a headache for emerging nations. “The continuation of extremely low interest rates and unconventional monetary policies by major [...]
about 2 days ago - No commentsThe IMF is calling for a huge new round of bank bailouts. As the Telegraph noted yesterday: “Lenders across Europe and the US are facing a $4 trillion refinancing hurdle in the coming 24 months and many still need to recapitalise, the Washington-based organisation said in its Global Financial Stability Report. Governments will have to [...]
about 2 days ago - No commentsFiled under: Market Matters, Politics, Federal Reserve The U.S. Federal Reserve is in a quandary about how to explain its anticipated quantitative easing stimulus, dubbed QE2. Officials worry that an added stimulus will create unwanted inflation. Fed officials Charles Evans and William Dudley have spoken in favor of the new stimulus. Dudley told the Financial [...]
about 3 days ago - No commentsSt. Louis Fed chief James Bullard — an uber-dove — is on CNBC this morning, and generally he’s still talking the dove, pro-stimulus line. But it’s no done deal. He says the odds of a double-dip have receded, and anything can happen between now and November. Join the conversation about this story » Go to [...]
about 3 days ago - No commentsThe IMF is calling for a huge new round of bank bailouts. As the Telegraph noted yesterday: Lenders across Europe and the US are facing a $4 trillion refinancing hurdle in the coming 24 months and many still need to recapitalise, the Washington-based organisation said in its Global Financial Stability Report. Governments will have to [...]
about 3 days ago - No commentsMaking a good living is difficult in this current economy. In the business world, providing goods and services is being hit especially hard as people are coming to the conclusion that they will make do with what they have. The repercussions are being felt around the globe in manufacturing plants, clothing and retail, the travel [...]
about 4 days ago - 1 commentFrom MarketWatch: Roubini: 40% chance of double-dip recession There is a 40% probability of a double-dip recession, but you don’t need one for the global economy to feel like it is in a deep, continuing recession, said Nouriel Roubini … “You don’t need another Lehman story, you don’t need a major loss,” said Roubini at [...]
about 4 days ago - No commentsFrom one camp, the cry is clear and certain: The only thing missing from the U.S. economy today is demand, and the answer is for the government to supply it. From another, the cry is just as certain: We tried stimulus, and it didn't deliver. The Great Recession has bequeathed massive dysfunction—from the now-nationalized mortgage [...]
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