by Guest Author Craig Tindale, Steve Keen's Debtwatch Chinese construction keeps trending down with Sany, the world's sixth largest heavy machinery maker reporting  a rise in profit of 5.4% in the same quarter as a blow out in receivables of USD $1.39… more »

Spain has many problems in the labour market. It is dual in the sense that older workers are protected and younger ones are not. It is dual since public sector pay is relatively high while productivity is relatively low compared to the private sector. These inefficiencies are a cause of concern, and they should be fixed. However, the distortions from the last years was caused by capital inflows. Therefore, capital outflows will probably cause wages to fall on their own. more »