The current generation of policymakers seem to be like Captains of large ocean liners, out there on the high seas, bereft of either compass or adequate charts, trying hard to calm there worried passengers by telling them nothing is amiss. But the charts are there, if only they would look at them, and...
Posted to
Economics
on 08-31-2010
Filed under: A Fistful Of Euros, Economics and demography, Economics: Country briefings
Karl Friedrich Hieronymus, Freiherr von Münchhausen was a German baron born in Bodenwerder in the eighteenth century. Made famous by the Hollywood director Terrence Gilliam, the baron first came to public attention for his ability to recount outrageously tall tales about his adventures while fighting...
Posted to
Economics
on 08-30-2010
Filed under: A Fistful Of Euros, Economics and demography, Economics: Country briefings, Economics: Currencies
In a recent FT Op-ed, entitled “Estonia’s recovery defies economists and academics“, columnist John Dizard argued that “the “internal devaluation” policy, which means cuts in nominal costs such as wages and rents, was very hard on the population, but appears to have worked ahead of...
Posted to
Economics
on 08-26-2010
Filed under: A Fistful Of Euros, Economics and demography, Economics: Country briefings, Economics: Currencies
Well, here’s a nice way of putting things. Spain did less badly than expected in Q2 2010 as compared with a year ago, since in Q2 2009 it actually did worse than it initially appeard (following a downward revision in the data). Well, that’s one way to improve, push the past backwards. On...
Posted to
Economics
on 08-26-2010
Filed under: A Fistful Of Euros, Economics and demography, Economics: Country briefings