asterisk2a + liberal + monetization + global + deleveraging   2

China's impossible trinity - BBC News
At the heart of China's problem is the "impossible trinity" of international macroeconomics. The impossible trinity - or trilemma - is the idea that it is impossible for a country to have three things at the same time: a stable currency, the free movement of capital (i.e. the absence of capital controls) and independent monetary policy. A country can instead choose just two of the options from this policy suite. The UK, in common with most developed economies, has free capital movement and an independent monetary policy - but not a controlled exchange rate. The Bank of England sets interest rates at a level it thinks is right for the UK economy and - as capital can flow into and out of the UK at will - the exchange rate is determined by the market. [...] But the bigger criticism is usually over the nature of the post-2009 stimulus package [...] But, for all the criticism, the counterfactual is rarely stated. What would global growth have looked like without it? [//+ deflation factors]
China  liberal  economic  reform  2015  credit  bubble  devaluation  currency  debasement  Yuan  RMB  PBOC  IMF  SDR  macroeconomics  monetary  policy  fiscal  policy  QE  recovery  GFC  economic  history  banking  crisis  shadow  banking  NPL  debtoverhang  balance  sheet  recession  deleveraging  property  bubble  hot-money  BRIC  western  world  global  trade  global  economy  deflationary  deflation  reflate  reflation  equity  bubble  asset  bubble  asset  allocation  distortion  unknown  unkown  unintended  consequences  Fed  BOE  BOJ  Abenomics  currency  war  currency-war  aggregate  demand  short-fall  aggregate  demand  Richard  Koo  consumer  debt  household  debt  student  loan  debt  debt  servitude  sovereign  debt  crisis  debt  bubble  Super  Cycle  student  debt  public  debt  debt  monetisation  debt  monetization  private  debt  globalisation  globalization  technological  progress  flat  world  wage  growth  wage  stagnation  secular  stagnation  borderless  global  imbalances  faultlines  structural  imbalance  savings  glut  Impediments  inequality  squeezed  middle  class  Europe  UK  OECD  marginal  propensity  to  consume  Sozialer  Abstieg  working  poor  precarious  work  income  growth  deregulation  self-regulation  Workers  Union  wage  pressure  disposable  income  income  distribution  income  redistribution  low  income  income  inequality  American  Dream  USA  Gini  Super  coe 
september 2015 by asterisk2a
Five Years After Lehman, BIS Ex-Chief Economist Warns "It's Worse This Time" | Zero Hedge
The share of "leveraged loans" or extreme forms of credit risk, used by the poorest corporate borrowers, has soared to an all-time high of 45% - 10 percentage points higher than at the peak of the crisis in 2007. + http://www.zerohedge.com/news/2013-09-14/record-high-grade-leverage-means-pik-toggle-lbo-debt-back-and-worse-ever // The Bank Of International Settlements Warns The Monetary Kool-Aid Party Is Over www.zerohedge.com/news/2013-06-23/bank-international-settlements-warns-monetary-kool-aid-party-over ""central banks must head for the exit and stop trying to spur a global economic recovery... cheap and plentiful central bank money had merely bought time, warning that more bond buying would retard the global economy’s return to health by delaying adjustments to governments’ and households’ balance sheets." http://www.telegraph.co.uk/finance/10310598/BIS-veteran-says-global-credit-excess-worse-than-pre-Lehman.html
unemployment  employment  monetary  policy  Mark  Carney  ope  reflation  zombie  banks  monetary  transmission  mechanism  BOE  banking  crisis  carmenreinhart  BOJ  LBO  balancesheet  policy  folly  QE  liquidity  2013  fiscal  policy  UK  debt  monetisation  political  error  unknown  unkown  greatdepression  zombie  consumer  deleveraging  debt  monetization  Richardkoo  centralbanks  liberal  economic  reform  faultlines  GFC  monetary  theory  exuberance  MarioDraghi  unintended  consequences  global  economy  monetary  stimulus  Help  to  Buy  Scheme  liquidity-trap  zombie  corporations  ECB  monetary  system  political  folly  benbernanke  bank  crisis  Abenomics  rebalancing  China  greatrecession  policy  error  productivity  LTRO  NIRP  OMT  Fed  communication  economic  history  Super  Cycle  stagflation  leverage  KennethRogoff  sovereign  debt  crisis  recovery  unconventional  monetary  policy  ZIRP  USA  BIS  POMO  Funding  for  Lending  Scheme  corporate  governance  fiscal  deficit 
september 2013 by asterisk2a

related tags

1%  Abenomics  Abstieg  aggregate  allocation  American  asset  balance  balancesheet  bank  banking  banks  benbernanke  BIS  BOE  BOJ  borderless  BRIC  bubble  Buy  carmenreinhart  Carney  centralbanks  China  class  coefficient  communication  consequences  consume  consumer  corporate  corporations  credit  crisis  currency  currency-war  Cycle  debasement  debt  debtoverhang  deficit  deflation  deflationary  deleveraging  demand  deregulation  devaluation  disposable  distortion  distribution  Dream  ECB  economic  economy  employment  equity  error  Europe  exuberance  faultlines  Fed  fiscal  flat  folly  for  Funding  GFC  Gini  global  globalisation  globalization  glut  governance  greatdepression  greatrecession  growth  Help  history  hot-money  household  imbalance  imbalances  IMF  Impediments  income  inequality  KennethRogoff  Koo  LBO  Lending  leverage  liberal  liquidity  liquidity-trap  loan  low  LTRO  macroeconomics  marginal  MarioDraghi  Mark  mechanism  middle  monetary  monetisation  monetization  NIRP  NPL  OECD  OMT  ope  PBOC  policy  political  POMO  poor  precarious  pressure  private  productivity  progress  propensity  property  public  QE  rebalancing  recession  recovery  redistribution  reflate  reflation  reform  Rich  Richard  Richardkoo  RMB  savings  Scheme  SDR  secular  self-regulation  servitude  shadow  sheet  short-fall  sovereign  Sozialer  squeezed  stagflation  stagnation  stimulus  structural  student  Super  system  technological  theory  to  trade  transmission  UK  unconventional  unemployment  unintended  Union  unknown  unkown  USA  wage  war  western  work  Workers  working  world  Yuan  ZIRP  zombie 

Copy this bookmark:



description:


tags: