As I explained on CNBC:
Even the most optimistic assumptions are unlikely to change the trend of weak global growth.
Continue reading A US-China Trade Deal Will Likely Be A Zero-Sum Game
Category Archives: On the cover
How Do We Go From Slowdown To A Crisis? World Economics Episode 8
In this episode of our video blog, we discuss what drives an economy to a crisis.
Governments always see the problem of the economy as a demand issue, and tend to create larger imbalances by pushing demand-side policies.
The Insanity Of Negative Rates. World Economics Episode 7
In this seventh episode of my video-blog, we discuss negative rates. Why do central banks implement them? What are the alleged benefits and risks? Is it true that economic agents spend more and take more credit when nominal rates are negative?.
Please subscribe to my channel and watch the other episodes. Comments, as always, are welcome.
Quantitative Easing Is Back
The Federal Reserve, through its president Jerome Powell, has indicated that it is preparing to increase its balance “organically”. The effort to separate this latest monetary policy change of course from a full-blown new QE (quantitative easing) is, at the very least, amusing. If we look at what is being discussed, it has nothing to do with organic expansion and looks a lot like a new repurchase program. Continue reading Quantitative Easing Is Back