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HONG KONG (MarketWatch) — As China decides what sort of action to take amid a deepening slowdown, a state media editorial warned that massive spending to boost the economy could be “detrimental,” given the bad debt problems now weighing on banks from Beijing’s previous stimulus. “Just four years after the last stimulus plan took effect, the Chinese economy faces the same challenges, albeit with a much more complicated external [...] From FT: The problem, then, is not so much that policy hasn’t worked but, instead, that we expect too much from it. Stagnation is a lot better than Depression but there are still plenty of people out there who believe that, with a bit more effort and a few more macroeconomic policy wheezes, the good times will return – despite the evidence of persistent “optimism bias” in official forecasts based on [...] Thetrader.se With news dominated by the Greek elections, the imploding Spanish economy and more, people tend to forget about other issues. One of those being the currency wars going on.http://www.thetrader.se/2012/06/18/notes-for-currency-wars/ Ft.com From Bloomberg: Inflation is sometimes referred to as a hidden tax. Unlike other taxes, it doesn’t require legislation by Congress or the states. It doesn’t merit a line item on the 1040 federal income-tax form many Americans will file this week. And it doesn’t appear on the bottom of sales’ receipts as a percentage markup on the things we buy. by James Angelos On a recent trip to Greece, I visited my aunt in her Athens apartment. I’d arrived from Berlin, and she, like many Greeks these days, wanted to talk about Germany in not the nicest terms. “The Germans are so strict!” she said, feeling, as do most of her compatriots, under the thumb of German-backed austerity measures. After all, she added, Greeks had for long been such loyal buyers of German [...] |
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