Now let's not start to ask if it could have been done before. Of course it could, but few things needed to be "settled"...and now financial markets are happy! It was the buy time strategy...
Macroeconomics: Seeing Through the Emperor's New Clothes [View article]
Schoolyard silliness? The point is that the level of the debate is that one. You said, I said, she said, he said, with hardly some supporting evidence. Ideology and alter-ego are behind these debates. The worst is when they cite some academic literature or economists of the past (nothing better to do than backword-looking) and when you check it you may realize that either is not true, not existant or simply not applicable. These debates are sometimes "very depressing" and "not very stimulating". No good for economists or laymen.
As you maybe know Italy is the third government bond market in the world after US and Japan.
I am afraid that under high world competition in placing governments bonds, some countries will suffer and some prophecies may be self-fulfilling (particularly when Governments officials also talk...)
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Breaking News
US to 'wind down' AIG in 'orderly way': Geithner
uk.news.yahoo.com/18/2...
Amen to AIG.
Now let's not start to ask if it could have been done before. Of course it could, but few things needed to be "settled"...and now financial markets are happy! It was the buy time strategy...
Macroeconomics: Seeing Through the Emperor's New Clothes [View article]
A Good Bank / Bad Bank Primer [View article]
What If Stimulus Isn't Stimulating Enough? [View article]
The debate is becoming VIAGRA economics
Nationalize Banks the True Capitalist Way [View article]
M.G. in Progress
The CDS World Depends on Italy and Spain - Who Knew? [View article]
see this:
ftalphaville.ft.com/bl...
alphaville.ftdata.co.u...
But in the past you published this:
paul.kedrosky.com/arch...
Dou you happen to have un update?
And in Italy we are discussing about this spread Italian/Germans Bond
www.soldionline.it/obb...
As you maybe know Italy is the third government bond market in the world after US and Japan.
I am afraid that under high world competition in placing governments bonds, some countries will suffer and some prophecies may be self-fulfilling (particularly when Governments officials also talk...)