Archive for October, 2015
The Root of Asia’s Problems
It’s difficult even within the context of a ’closed economy’ to know just how much credit there is within the wider system and the situation is even harder to quantify when one comes to international credit flows. The official balance…
Can France Sustain its Recent Spending Growth
The weak euro has increased the cost of non-oil imports to the economy – hence deflation has eased but the higher import prices represent a ‘tax’ on consumers. However, the decline in the oil price had more impact on household…
Weak World Trade and a Fiscal Easing in 2016
The Dutch group CPB has reported that total world trade volumes are flat in year on year terms and down 1.6% YTD, as well as Asian import volumes being down 8% YTD and export volumes by a massive 9% YTD….
das auto matters
As most of you will know, VAG have been a little untruthful regarding its emission performance claims and we suspect that this disaster will have serious negative macroeconomic consequences. In the US and Asia, the claims are damaging from a…
US corporate sector and financial engineering
Although plagued by the usual data inaccuracies (many of which seem to have been caused by a shortage of funds at the Federal Reserve), there was much that was of interest within the latest US flow of funds data. Perhaps…