A brilliant and provocative but pessimistic analysis by Albert Edwards of Société Générale:  “To cut or not to cut? Actually it doesn’t really matter. We’re stuffed anyway!”, 12 February 2010. With links to even better analysis by Richard Koo. Must-reading for anyone seeking to understand this crisis. Excerpt: About Europe My own view of developments, for what it is worth, …
“Europe will be forged in crises, and will be the sum of the solutions adopted for those crises.” — Jean Monnet in his Memoirs (1978). He was one of the architect of the program to unite Europe (see his Wikipedia bio) Rule #1: even big things die. Geopolitical analysts too often assume the permanence of …
Can the European Monetary Union survive the next recession? Read More »
This analysis is far from the consensus viewpoint. Unlike the consensus view, however, this has the advantage of accurately predicting the events of the past year. The deleveraging of the US economy is putting “torque” on the US financial system. This is a process which cannot be stopped prior to completion, although the government will …
