8 December 2011
The Federal Reserve released the Flow of Funds Accounts of the United States today. The Flow of Funds Accounts provides one of the best snapshot of an economy. In an article appropriately titled ‘No one saw this coming’ – or did they? (see the full paper here), Dirk Bezemer correctly recognizes that the Economics profession’s ignorance [...]
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6 December 2011
Yesterday S&P put 15 of the EA17 governments on CreditWatch negative (comments and links here). It later came out with Credit FAQ: Factors Behind Our Placement Of Eurozone Governments On CreditWatch which gives the rationale for the action. According to the S&P For countries in net external liability positions, including the eurozone’s peripheral economies, we see growing [...]
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