Monthly Archives: December 2010


USA: Real-effective exchange rate I’m just astonished at the tripe which passes for sensible economic commentary right now. Take the WSJ 2011 outlook piece from 26 December. It ran in my city’s paper as part of a regular WSJ mini-edition, … Continue reading

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What would you say?

What would you say if more and more countries were being struck by the financial markets’ lack of confidence? You know. The bond markets are selling off. Depositors are leaving the banks. Not from caprice — from genuine worry. Worry … Continue reading

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