Monetary Policy Under Financial Repression

by Michael Pettis, China Financial Markets Following Paul Krugman’s lead I guess I can refer to this post as being “wonkish”.  Much of it is based on my recent book  Avoiding the Fall (Carnegie Endowment, September 2013).

Public Debt and Economic Growth: There Is No ‘Tipping Point’

by Markus Eberhardt and Andrea F. Presbitero, Voxeu.org Published at Voxeu.org 17 November 2013 The idea that there is a common tipping point in the relationship between public debt and economic growth is still widespread. However, this is likely due to a misinterpretation of the existing evidence. Once we allow for the relationship between debt …

The Politics of Adjustment

by Michael Pettis, China Financial Markets The past two years have seen a surprising amount of turmoil at the highest levels of the Chinese political establishment. We have seen political alliances re-shuffled, powerful business and political leaders arrested, factional disputes magnified, and an explosion of rumors of more to come. After twenty years of what …

End of the Cycle

Age of Wisdom, Age of Foolishness – 1913 to 2013 Written by Adam Whitehead, KeySignals.com On the eve of the centennial anniversary of the “War to End all Wars”, it is depressing to observe the new seeds of global conflict developing in what Professor Peter Turchin[i] has referred to as “Rich, Overeducated Elites”[ii]; attempting to …

How America’s Short Sightedness Hampers Long-Term Growth!

Four Graphs Showing A Nation in Decline, an Unnecessary and Easily Fixed Decline. by Fabius Maximus, FabiusMaximus.com Summary: We mock China for their over investment in infrastructure. Gleaming new factories, high-speed trains, subways. Foolish ants. Exceptional America does it better. As a third in this series, we look at some pictures of how much America …