Category Archives: On the cover

On the cover

Stimulus is not working: The truth about US jobs

Global Economy, On the cover, Sin categoría
“We will continue with Fed purchases until unemployment falls below 6.5%” Ben Bernanke

Non Farm Payroll data is positive. No doubt. Payrolls has been remarkably stable, but this represents an acceleration. All the 3 month, 6 month, 12 month averages are now at around 200k post revisions… But it is also within a broader, weak context. Unemployment is still 7.6%. Continue reading Stimulus is not working: The truth about US jobs →

Euro Banks and the Dangers of Over-Regulation

Europe, Global Economy, On the cover, Sin categoría

“The rules enshrined in countless pages behind the Basel Capital Accords did not prevent the crisis… In effect, faith in markets has given way to faith in regulation” – David T Llewellyn

“We will be the healthiest of the cemetery”. These are the words of  a banker after hearing the results of the European agreement last week. Continue reading Euro Banks and the Dangers of Over-Regulation →

Neo-Keynesianism in one image

Global Economy, On the cover, Sin categoría
  • Neo-Keynesianism in one imageWhat if we create a public bank? The savings banks worked nicely. – Good idea, I want to be chairman.
  • Capitalism doesn’t work, let’s spend more.
  • It’s for your own good, let me help you.
  • You don’t understand, let me do it.
  • It had to happen, let’s create a committee.
  • Government is here to help.
  • Read the manual.
  • It didn’t work, let’s repeat it.
  • We need more supervisory boards.
  • Our analysis is impeccable.
  • You are not competitive.
  • You live above your means.
  • Your private debt is too high.