Understanding The Modern Monetary System...
China wants to shift the composition of their reserves. Here’s a chart from a speech I gave in September 2011: It shows how China had essentially stopped purchasing U.S. Treasuries in 2010. Now this is a big deal, because it shows China is committed to altering their reserve balances, and also committed to hitting the [...]
I like Ryan Avent – he writes an excellent blog over at the Economist: Here is something totally related to the recent post with insight powered by Ramanan: The trouble, as Mr Luce rightly points out, is not necessarily that America is losing jobs in manufacturing. It’s that it is failing to create jobs in [...]
The king and his coins – macrobusiness.com.au | macrobusiness.com.au Hello Delusional Economics! I am a huge fan of DE and they are a must read. Yet another supporter of MMR comes on board. We agree, DE – the Current Account matters. Marshall Auerback: Greece – A Default is Better Than the Deal on Offer « naked [...]
If you look around the internets, you can find a little bit about China’s 12th 5 year plan. Here is one of the key components of the 5 year plan. “Rise in domestic consumption” There are not many ways to do this on a large scale. One way would be for China to cut their [...]
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