A Twisted Tale Of De(Leveraging)
Notwithstanding the merits of debt
Given the tepid global growth prospects, it is clear now that most of major central banks will be holding onto their easy money stance in near term. While the US Fed is sole candidate to take a step in the other direction, it is becoming increasingly clear that the rest of the world is still suffering from the great financial crisis. Even for the Fed, it will not be an easy task to undo the QE driven monetary excesses of the last half a decade.
Notwithstanding the merits of debt
Given the tepid global growth prospects, it is clear now that most of major central banks will be holding onto their easy money stance in near term. While the US Fed is sole candidate to take a step in the other direction, it is becoming increasingly clear that the rest of the world is still suffering from the great financial crisis. Even for the Fed, it will not be an easy task to undo the QE driven monetary excesses of the last half a decade.
http://www.alternet.org/economy/paul-krugman-how-simple-minded-analogy-has-wreaked-havoc
http://www.mckinsey.com/insights/economic_studies/debt_and_not_much_deleveraging
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