European Central Bank

What is really wrong with Europe

What is really wrong with Europe

That’s the subject of a recent column by the Financial Times‘ Martin Wolf.  It is a different diagnosis than is found in the US media: What happened in Europe was that countries in its industrial core achieved massive export surpluses by combining high labour productivity with stagnant wages. The resulting revenues led to huge capital […]

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In Case You Missed This (& You May Wish You Had)

In Case You Missed This (& You May Wish You Had)

Things are looking very dicey for Europe and, by implication, for us.  According to Friday’s Wall Street Journal, the European Central Bank is now calling for a recession on the Continent by mid-year: “We now believe that the recession will be deeper and longer lasting, and we are making forecast changes to show a peak […]

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Fiscal Austerity & the Eurozone

Fiscal Austerity & the Eurozone

In case you’re wondering how the European experiment with fiscal austerity in a slack economy is working out, a recent Wall Street Journal article may provide some indications: The euro-zone economy suffered a major loss of momentum at the end of the second quarter and retail spending fell sharply, even as the European Central Bank […]

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