14 April 2012
Updated: 14 April 2012 at 3:30pm GMT (Chart added) Martin Wolf has just written an article on FT: Why the Bundesbank is wrong questioning the arguments made by Jens Weidmann, president of the Bundesbank. (This speech: Rebalancing Europe). This chart is interesting: (click to enlarge) Wolf says: Arguably, the crucial step is to agree on the nature of [...]
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18 March 2012
My last post was on U.S. net income payments from abroad and how it continues to be in the favour of the United States. The late Wynne Godley had been analyzing this since 1994. In an article titled U.S. Trade Deficits: The Recovery’s Dark Side?, written with William Milberg, he had a section called “Foreign indebtedness and the [...]
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