wolfgang munchau

We can try to inflate away the government’s debt, but we’ll go broke before succeeding

Summary:  another in a series about the financial condition of the US government.  This is  follow-up post to Why the U.S. cannot inflate its way out of debt (15 March 2010).   We’re in worse shape than most of our peers, and far larger (whales cannot manuever like minnows).   Other posts later this week discuss this important topic. The …

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The EU does Kabuki for Greece. Is it the next domino to fall?

The ever-evolving rescue plans are — so far — just Kabuki.  It’s obvious, but seldom acknowledged — as explained in this excerpt from “Europe’s bazooka is not enough“, Models and Agents, 8 April 2010: Back in August 2008, Hank Paulson, then US Treasury Secretary, went to Congress to request the mandate for a potential financial backstop …

The EU does Kabuki for Greece. Is it the next domino to fall? Read More »

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