Pinboard (asterisk2a)
https://pinboard.in/u:asterisk2a/public/
recent bookmarks from asterisk2aFuture of Steel - Ken Clarke & Paul Mason - BBC Newsnight2016-04-12T14:06:39+00:00
https://www.youtube.com/watch?v=Bsgkx2qO6KA
asterisk2aunderinvestment austerity Smart Grid energy policy price competitive advantage George Osborne David Cameron budget2010 budget2015 Budget2016 Manufacturing current account deficit budget trade TPP AIIB World Bank China BRIC commodity prices heavy industry microeconomic macroeconomic macroprudential Mark Carney education skills gap skill investment apprenticeship further immigration migration Tories Conservative Party nasty NIRP ZIRP QE recovery output productivity Service Sector Jobs job creation labour market DWP Iain Duncan Smith general election 2015 campaign promises Manifesto corporate restructuring welfare subsidies subsidizing Privatisation Nationalization Nationalisation constituency Funding 2020 IMF OECD folly error global economy credit bubble Germany Hinkley Point C renewable storage fiscal monetary property rent-seeking rentier liquidity-trap liquidity trap Housing Crisis Help to Save Buy Scheme Right Buy-to-Lethttps://pinboard.in/u:asterisk2a/b:a0138832c975/ECB reveals surprise stimulus moves - BBC News2016-03-10T16:54:50+00:00
http://www.bbc.co.uk/news/business-35774629
asterisk2aECB ZIRP NIRP QE OMT inflation targeting LTRO TLTRO deflation secular stagnation deflationary Oil price commodity prices squeezed middle class demographic bubble zombie banks global economy Richard Koo liquidity-trap liquidity trap underinvestment aggregate demand distortionhttps://pinboard.in/u:asterisk2a/b:1d90154e0e44/Dax knackt 10.000 Punkte: Rekord wegen billigen Gelds von EZB - SPIEGEL ONLINE2014-06-05T20:54:22+00:00
http://www.spiegel.de/wirtschaft/unternehmen/dax-knackt-10-000-punkte-rekord-wegen-billigen-gelds-von-ezb-a-973505.html
asterisk2aasset bubble Betongold Beton Gold ZIRP QE OMT ECB BOE BOJ Fed monetary policy unconventional stimulus allocation property London PIGS transmission mechanism liquidity trap liquidity-trap zombie consumer corporations banks Europe sovereign debt crisis Super Cycle hunt for yield New Normal financial repression 2014 MarioDraghi BuBa Bundesbank banking union unintended consequences unknown unknowns complexity macroprudential Politics Career Politicians folly error austerity fiscal Structural Impediments unemployment faultlines imbalance recovery greatdepression greatrecession lost decade generation speculative bubbles equity credit bond Wolfgang Schäublehttps://pinboard.in/u:asterisk2a/b:10295596a1e7/Today's Good News From Japan Is Terrible - Bloomberg View2014-05-15T21:30:50+00:00
http://www.bloombergview.com/articles/2014-05-15/today-s-good-news-from-japan-is-terrible
asterisk2aBOJ QE ZIRP Japan lostdecade lost decade 2014 deflationary deflation trust trustagent confidence Kuroda Put Greenspan-Put Greenspan economic history monetary transmission mechanism theory fiscal policy unconventional bond bubble unintended consequences unknown unknowns complexity Debt Super Cycle sovereign crisis Nikkei JPY faultlines global imbalances Fed Taper Janet Yellen Abenomics Shinzo Abe stimulus accommodative liquidity-trap liquidity traphttps://pinboard.in/u:asterisk2a/b:94e00cc2d1bd/British austerity is no model for the rest of the world - FT.com2014-05-05T03:26:24+00:00
http://www.ft.com/cms/s/2/f59d7128-d121-11e3-9f90-00144feabdc0.html?
asterisk2aHelp to Buy Scheme Funding for Lending fiscal policy monetary BOE austerity Mark Carney davidcameron GeorgeOsborne recovery 2014 GFC zombie consumer Debt Super Cycle private sovereign crisis bubble monetization monetisation QE ZIRP Career Politicians short-term thinking election campaign promises general 2015 election2015 unintended consequences unknown unknowns productivity wage stagnation living working poor squeezed middle class financial repression New Normal structural deficit budget jubilee public household debtoverhang liquidity-trap economic history property Supply and Demand mortgage market housing Shortfall error folly unconventional policy-makers makers democracy Politics UKhttps://pinboard.in/u:asterisk2a/b:75e4f1108f3e/Hedge Fund Boss: "We Are Witnessing Our Second Tech Bubble"2014-04-24T08:37:15+00:00
http://valleywag.gawker.com/greenlight-capital-we-are-witnessing-our-second-tech-1566302438
asterisk2aasset bubble Silicon Valley growth round late-stage funding Venture Capital Marc Andreessen IPO hunt for yield ZIRP QE liquidity-trap unintended consequences speculative bubbles equity debt bond OMT ECB BOE NIRP deflationary deflation unconventional monetary policy transmission mechanism 2014 Facebook Airbnb Dropbox Box.com California San Francisco Los Angeles Palo Alto Fred Wilsonhttps://pinboard.in/u:asterisk2a/b:66326e4f90cf/Airbnb Has Closed Its $500M Round Of Funding At A $10B Valuation, Led By TPG | TechCrunch2014-04-18T20:16:57+00:00
http://techcrunch.com/2014/04/18/airbnb-has-closed-its-500m-round-of-funding-at-a-10b-valuation-led-by-tpg/
asterisk2aAirbnb growth round Venture Capital hunt for yield bubble equity WallStreet cash asset allocation ECB BOE Fed ZIRP QE OMT liquidity-trap unintended consequences complexity unknown unknowns NIRP unconventional monetary policy transmission mechanism system sovereign debt crisis Super Cycle 9flats marcandreessen late-stage funding Silicon Valley investor investors Marc Andreessenhttps://pinboard.in/u:asterisk2a/b:84ce1875aa79/Draghi's deflation dilemma - YouTube2014-04-03T01:31:45+00:00
https://www.youtube.com/watch?v=ZglW3SIkoTs
asterisk2adeflation deflationary MarioDraghi ECB monetary transmission mechanism inflation disinflation sovereign debt crisis Euro policy fiscal austerity 2014 recovery greatdepression greatrecession lostdecade lostgeneration PIGS Super Cycle bubble NPL long-term unemployment structural youth communication trustagent confidence trust complexity ZIRP liquidity-trap NIRP Bundesbank QE OMThttps://pinboard.in/u:asterisk2a/b:88347252bad4/Wie Europa Schulden loswerden kann - SPIEGEL ONLINE2014-01-05T19:08:36+00:00
http://www.spiegel.de/wirtschaft/soziales/wie-europa-schulden-loswerden-kann-a-941666.html
asterisk2adebt servicing sovereign crisis consumer Super Cycle Europe zombie corporations ZIRP liquidity-trap QE KennethRogoff liberal economic reform history MarioDraghi ECB unconventional monetary policy theory transmission mechanism deflation deflationary debtoverhang balance sheet recession GFC greatrecession greatdepression lostdecade lostgeneration youth unemployment austerity IMF Japan UK USA budget deficit France financial repression hunt for yield asset bubble speculative bubbles New Normal PIMCO Mohamed El-Erian jubilee monetization monetisation restructuring private public household carmenreinhart WallStreet inflation targeting expectation communication babyboomers haircut PIGS toobigtofail TBTF Richardkoohttps://pinboard.in/u:asterisk2a/b:a432d826958d/EZB: Mario Draghi und die Schuld an den niedrigen Zinsen - SPIEGEL ONLINE2014-01-05T18:33:36+00:00
http://www.spiegel.de/wirtschaft/unternehmen/ezb-mario-draghi-und-die-schuld-an-den-niedrigen-zinsen-a-941581.html
asterisk2afinancial repression New Normal ZIRP QE ECB unconventional monetary policy liquidity-trap complexity unintended consequences asset bubble Europe hunt for yield speculative bubbleshttps://pinboard.in/u:asterisk2a/b:e65d4c4e97ad/EZB hält Leitzins auf historischem Tiefstand - SPIEGEL ONLINE2013-12-06T22:17:41+00:00
http://www.spiegel.de/wirtschaft/unternehmen/ezb-haelt-leitzins-auf-historischem-tiefstand-a-937383.html
asterisk2aliquidity-trap ECB unconventional monetary policy modern theory system transmission mechanism ZIRP NIRP QE LTRO OMT negative real interest rate deflationary deflation asset bubble speculative bubbles unintended consequences complexity faultlines Structural Impediments sovereign debt crisis Europe PIGS recovery austerity liberal economic reform trust trustagent confidence error folly political history IMF balance sheet recession deleveraging divergence Super Cycle lostdecade lostgeneration stagflation stagnation secular Japanhttps://pinboard.in/u:asterisk2a/b:42fc71a9372e/BBC News - Worrying trends for the UK economy2013-12-05T19:57:37+00:00
http://www.bbc.co.uk/news/business-25240521
asterisk2aGFC greatdepression greatrecession UK 2013 economic history recovery austerity deflationary deflation inflation working poor squeezed middle class zombie consumer debt deleveraging balance sheet recession output-gap productivity larrysummers stagflation stagnation secular cycle Japan lostdecade lostgeneration fiscal policy monetary liquidity-trap spare capacityhttps://pinboard.in/u:asterisk2a/b:e48f34b7d938/ECB mulls LTRO with conditions -paper | Reuters2013-11-28T16:59:15+00:00
http://www.reuters.com/article/2013/11/27/ecb-ltro-sueddeutsche-idUSL5N0JC13620131127
asterisk2aLTRO Europe banking crisis bank creditcrisis creditcrunch ZIRP liquidity-trap NIRP negative real interest rate deflationary deflation monetary transmission mechanism ECB policy system austerity liberal economic reform greatdepression M3 greatrecession lostdecade Debt Super Cycle balance sheet recession deleveraging NPLhttps://pinboard.in/u:asterisk2a/b:3dd443e55e7a/Hugh Hendry Capitulates: "Can't Look At Himself In The Mirror" As He Throws In The Towel, Turns Bullish | Zero Hedge2013-11-25T10:50:55+00:00
http://www.zerohedge.com/news/2013-11-22/hugh-hendry-capitulates-cant-look-himself-mirror-he-throws-towel-turns-bullish
asterisk2aHughHendry supply-demand savings glut supply QE ZIRP deflation deflationary reflation inflation monetary policy unconventional modern theory NIRP negative real interest rate liquidity liquidity-trap WallStreet asset bubble blackswan fat tail Fed GFC Debt Super Cycle trading proptrading hunt for yield financial repression New Normalhttps://pinboard.in/u:asterisk2a/b:eac677b98190/▶ Marktgeflüster: Schneeballsystem mit (un)gewissem Ausgang! - YouTube2013-11-24T00:07:28+00:00
http://www.youtube.com/watch?v=nZHTnO1axtg
asterisk2aZIRP NIRP negative real interest rate QE asset bubble unintended consequences complexity monetary transmission mechanism deflation deflationary 2013 Europe ECB BOE Fed liquidity-trap economic history hot-money hunt for yield Germany Debt Super Cycle sovereign crisis monetization monetisation WallStreet irrational liquidity financial repression New Normal incentive behavioral finance economicshttps://pinboard.in/u:asterisk2a/b:c912f5eb8c2a/▶ Discipline needed, not austerity - YouTube2013-10-25T19:20:45+00:00
http://www.youtube.com/watch?v=Tka_h5ROpj8
asterisk2aCareer Politicians monetary policy GFC academia liquidity-trap carmenreinhart political folly greatrecession error lostdecade lostgeneration economic history fiscal Debt Super Cycle Peter Blair Henry KennethRogoff sovereign crisis austerity paulkrugman BIS greatdepression book Richardkoo IMFhttps://pinboard.in/u:asterisk2a/b:0df20468eeca/Bubbles, Regulation, and Secular Stagnation - NYTimes.com2013-09-30T22:07:39+00:00
http://krugman.blogs.nytimes.com/2013/09/25/bubbles-regulation-and-secular-stagnation/
asterisk2astudent loan debt lobby deregulation monetary policy lobbyist asset bubble modern theory reflation dual mandate fiscal stimulus Lobbying BOE BOJ macroeconomics folly QE liquidity trap inflation targeting UK political error paulkrugman austerity unknown unkown greatdepression nominal GDP dis-inflation deleveraging regulation economics public secular stagnation private balance sheet recession jubilee GFC complexity excess unintended consequences consumer liquidity-trap WWII lostdecade greatrecession regulators debtoverhang Wicksellian natural interest rate NIRP Fed microeconomics economic history Super Cycle stagflation Great Moderation leverage sovereign crisis recovery ZIRP USA household Japan deficithttps://pinboard.in/u:asterisk2a/b:3d748aace1ae/Bubbles, Regulation, and Secular Stagnation - NYTimes.com2013-09-26T01:39:07+00:00
http://krugman.blogs.nytimes.com/2013/09/25/bubbles-regulation-and-secular-stagnation/?_r=1&
asterisk2aliquidity-trap economic historyhttps://pinboard.in/u:asterisk2a/b:79a75494b58a/Five Years After Lehman, BIS Ex-Chief Economist Warns "It's Worse This Time" | Zero Hedge2013-09-22T00:18:35+00:00
http://www.zerohedge.com/news/2013-09-15/five-years-after-lehman-bis-ex-chief-economist-warns-its-worse-time
asterisk2aunemployment employment monetary policy Mark Carney ope reflation zombie banks transmission mechanism BOE banking crisis carmenreinhart BOJ LBO balancesheet folly QE liquidity 2013 fiscal UK debt monetisation political error unknown unkown greatdepression consumer deleveraging monetization Richardkoo centralbanks liberal economic reform faultlines GFC theory exuberance MarioDraghi unintended consequences global economy stimulus Help to Buy Scheme liquidity-trap corporations ECB system benbernanke bank Abenomics rebalancing China greatrecession productivity LTRO NIRP OMT Fed communication history Super Cycle stagflation leverage KennethRogoff sovereign recovery unconventional ZIRP USA BIS POMO Funding for Lending corporate governance deficithttps://pinboard.in/u:asterisk2a/b:56d44d687780/BBC News - Bank of England must limit house price booms, says Rics2013-09-13T01:41:45+00:00
http://www.bbc.co.uk/news/business-24066371
asterisk2amonetary policy Politics asset bubble unintended consequences zombie banks Help to Buy Scheme transmission mechanism liquidity-trap davidcameron BOE political folly error debtoverhang QE NIRP 2013 communication fiscal Debt Super Cycle property UK monetisation sovereign crisis ZIRP consumer deleveraging inflation expectation subsidies Funding for Lending monetization GeorgeOsborne subsidizing balance sheet recessionhttps://pinboard.in/u:asterisk2a/b:b5e4e59cacd1/Economists in Jackson Hole Say QE Less Potent Than Fed Believes - Businessweek2013-08-25T03:14:43+00:00
http://www.businessweek.com/news/2013-08-23/economists-in-jackson-hole-say-qe-less-potent-than-fed-believes
asterisk2acurrency debasement monetary policy war complexity asset bubble theory modern reflation unintended consequences global economy transmission mechanism liquidity-trap BOE ECB system benbernanke debtoverhang QE NIRP Fed financial repression economic history Debt Super Cycle fiscal stagflation UK devaluation creditcrunch structural imbalance sovereign crisis unconventional ZIRP Taper deleveraging Richardkoo faultlines balance sheet recessionhttps://pinboard.in/u:asterisk2a/b:81e35d849a21/Zinstief kostet deutsche Sparer laut neuer Postbank-Studie Milliarden - SPIEGEL ONLINE2013-08-03T17:52:17+00:00
http://www.spiegel.de/wirtschaft/soziales/zinstief-kostet-deutsche-sparer-laut-neuer-postbank-studie-milliarden-a-914650.html
asterisk2amonetary policy theory unintended consequences zombie banks New Normal transmission mechanism babyboomers liquidity-trap BOE banking crisis ECB BOJ system bank lostdecade debtoverhang NIRP 2013 Fed lostgeneration financial repression Debt Super Cycle sovereign unconventional ZIRP consumer deleveraging centralbanks balance sheet recessionhttps://pinboard.in/u:asterisk2a/b:c810a1b7f3e4/Ökonomen starten Aufruf zur Unterstützung der EZB - SPIEGEL ONLINE2013-07-26T16:26:01+00:00
http://www.spiegel.de/wirtschaft/oekonomen-starten-aufruf-zur-unterstuetzung-der-ezb-a-913369.html
asterisk2amonetary policy complexity MarioDraghi unintended consequences transmission mechanism liquidity-trap deflation ECB system political folly error lostdecade QE LTRO OMT NIRP 2013 lostgeneration economic history PIGS debt monetisation creditcrunch sovereign crisis ZIRP inflation monetizationhttps://pinboard.in/u:asterisk2a/b:444c1c3d3ea7/Goldman Sachs sees BOE making a move on rates | ForexLive2013-07-24T22:10:00+00:00
http://www.forexlive.com/blog/2013/07/24/goldman-sachs-sees-boe-making-a-move-on-rates/
asterisk2aQE NIRP 2013 monetary policy communication Mark Carney zombie banks transmission mechanism liquidity-trap ZIRP austerity BOE greatdepression consumer system Funding for Lending Scheme greatrecessionhttps://pinboard.in/u:asterisk2a/b:ce870d4301d9/What Is A "Liquidity Trap" And Why Is Bernanke Caught In It? | Zero Hedge2013-07-18T17:22:44+00:00
http://www.zerohedge.com/news/2013-07-12/what-liquidity-trap-and-why-bernanke-caught-it
asterisk2a> Tim Geithner once said in an agressive clear tone on that question 'the US is not Japan.']]>monetary policy complexity asset bubble unintended consequences M3 transmission mechanism liquidity-trap BOE ECB deflation BOJ Structural Impediments lostdecade QE debtoverhang NIRP lostgeneration economic history fiscal Debt Super Cycle imbalance austerity ZIRP USA timgeithner deleveraging long-term unemployment deflationary Richardkoo Japan balance sheet recessionhttps://pinboard.in/u:asterisk2a/b:97d955432201/Breakingviews: Don't sink the pound, Governor Carney! - YouTube2013-07-16T16:02:34+00:00
http://www.youtube.com/watch?v=MwutK1fuwhw
asterisk2acurrency debasement monetary policy consumer squeeze war Mark Carney modern theory transmission mechanism liquidity-trap BOE deflation greatrecession QE NIRP 2013 UK recovery unconventional austerity ZIRP greatdepression sticky wages zombie wage inflation GeorgeOsbornehttps://pinboard.in/u:asterisk2a/b:4231afc04100/Wolfgang Münchau über die Zinspolitik der EZB - SPIEGEL ONLINE2013-07-11T15:46:38+00:00
http://www.spiegel.de/wirtschaft/unternehmen/wolfgang-muenchau-ueber-die-zinspolitik-der-ezb-a-910361.html
asterisk2aGreece monetary policy JörgAsmussen bond bubble incentive asset Europe zombie banks transmission mechanism sentiment BOE banking crisis deflation QE PIGS debt monetisation greatdepression consumer dis-inflation deleveraging allocation inflation monetization balance sheet recession Spain GFC capital MarioDraghi unintended consequences liquidity-trap union negative real interest rate ECB bank greatrecession debtoverhang LTRO OMT NIRP communication Fed trust economic history Super Cycle confidence sovereign monetarism unconventional ZIRP Jens Weidmannhttps://pinboard.in/u:asterisk2a/b:dd9b440b071d/Asmussen: ECB forward guidance goes beyond 12 months, euro falls | ForexLive2013-07-11T15:06:52+00:00
http://www.forexlive.com/blog/2013/07/09/asmussen-ecb-forward-guidance-goes-beyond-12-months-euro-falls/
asterisk2aQE NIRP 2013 monetary policy JörgAsmussen M3 transmission mechanism unconventional liquidity-trap ZIRP negative real interest rate banking crisis greatdepression ECB bank greatrecessionhttps://pinboard.in/u:asterisk2a/b:4aa7da1ff55e/Politik der niedrigen Zinsen: Nordstaaten verhinderten Zinssenkung - SPIEGEL ONLINE2013-07-08T19:20:26+00:00
http://www.spiegel.de/wirtschaft/soziales/politik-der-niedrigen-zinsen-nordstaaten-verhinderten-zinssenkung-a-909863.html
asterisk2aQE NIRP JörgAsmussen Europe creditcrunch M3 Bundesbank monetary transmission mechanism liquidity-trap ZIRP Jens Weidmann negative real interest rate banking crisis ECB bank creditcrisishttps://pinboard.in/u:asterisk2a/b:2cf9712ead81/What The ECB's "Unprecedented" Forward Guidance Means | Zero Hedge2013-07-04T23:47:29+00:00
http://www.zerohedge.com/news/2013-07-04/what-ecbs-unprecedented-forward-guidance-means
asterisk2a> "The move clearly marks an innovative step in the ECB's communication and policy strategy for a bank that previously had always refused to pre-commit on interest rates." >> Problem is - ECB will have it hard to maneuver out of the measures, end schemes, etc. "Monetary Policy is no Panacea." Ben Bernanke. + >> http://www.zerohedge.com/news/2013-07-04/diminishing-effects-qe-programs]]>unemployment monetary policy modern theory Europe M3 zombie banks transmission mechanism banking crisis Structural Impediments creditcrisis QE PIGS debt monetisation imbalance political error creditcrunch forward guidance trustagent austerity Taper greatdepression consumer deleveraging monetization balance sheet recession Politics PIIGSFB GFC MarioDraghi output-gap European Commission Euro liquidity-trap Troika ECB system folly bank greatrecession debtoverhang OMT NIRP communication trust economic history Super Cycle confidence sovereign unconventional escape velocity ZIRP PIIGS Germanyhttps://pinboard.in/u:asterisk2a/b:250d94a45c9b/www.bankofengland.co.uk/publications/Documents/speeches/2013/speech670.pdf2013-06-19T22:42:11+00:00
http://www.bankofengland.co.uk/publications/Documents/speeches/2013/speech670.pdf
asterisk2a> UK's future still uncertain. Reflective in Cable (GBPUSD). While others do much better. >> "Despite this encouraging picture, growth is not yet strong enough to reduce the considerable margin of spare capacity in the economy. Nor is recovery at an adequate rate fully assured. The weakness of the euro area and the problems of the UK banking system continue to act as a drag on growth. So the need to support the recovery remains. [...] unemployment remains unnecessarily high. [...] Both nominal and real interest rates are at unsustainably low levels. There is an understandable yearning for a return to normality [...] Monetary policy cannot provide the answer. [... Banking > ...] It is insufficient capital that restricts lending [+ holding not enough liquid assets]. And, without a resilient banking system, it will be difficult to sustain a recovery."]]>unemployment monetary policy currency war Mark Carney reflation zombie banks capital transmission mechanism BOE banking crisis Structural Impediments creditcrisis Discount Window Facility folly Recapitalisation liquidity QE price stability inflation targeting fiscal UK debt monetisation devaluation political error imbalance creditcrunch Recapitalization trustagent hunt for yield austerity greatdepression consumer deleveraging global imbalances monetization governance balance sheet recession Leverage GFC complexity output-gap unintended consequences liquidity-trap restructuring system too big to jail bank greatrecession debtoverhang Special Scheme NIRP trust economic history confidence youth unconventional ZIRP MervynKing toobigtofail Funding Lending corporatehttps://pinboard.in/u:asterisk2a/b:18755fff2bf3/BBC News - Austerity 'may last until 2020'2013-06-07T16:35:47+00:00
http://www.bbc.co.uk/news/business-22819843
asterisk2aQE NIRP monetary policy 2013 Politics GFC economic history fiscal Debt Super Cycle UK budget deficit political error sovereign crisis ZIRP liquidity-trap austerity BOE greatdepression deleveraging folly GeorgeOsborne greatrecession balance sheet recessionhttps://pinboard.in/u:asterisk2a/b:c42ff01d351a/Wolfgang Münchau über die Pläne für eine Bankenunion - SPIEGEL ONLINE2013-05-15T20:24:22+00:00
http://www.spiegel.de/wirtschaft/wolfgang-muenchau-ueber-die-plaene-fuer-eine-bankenunion-a-899956.html
asterisk2aPolitics GFC Europe European Commission zombie banks recapitalisation New Normal liquidity-trap europeanunion Troika banking union crisis ECB corporations political folly lostdecade policy error lostgeneration economic history financial repression creditcrunch sovereign debt EuropeanSystemicRiskBoard austerity USA deleveraging toobigtofail systemicrisk Richardkoo Japan balance sheet recessionhttps://pinboard.in/u:asterisk2a/b:4230c042f3f6/BBC News - ECB's Draghi 'ready to act if needed'2013-05-03T10:58:08+00:00
http://www.bbc.co.uk/news/business-22369765
asterisk2a> After the GFC, banks should have been privatised (creditors to take haircuts) in 2010/11, those who were not banks (ie lending), but mere zombie banks. Europe is doing the same mistake as Japan. >> see Apple example - unintended consequences. Microsoft too.]]>monetary policy financialcrisis GFC theory modern Europe unintended consequences zombie banks New Normal liquidity-trap banking crisis ECB system political folly bank lostdecade greatrecession QE debtoverhang communication economic history financial repression Debt Super Cycle NPL PIGS bubble error creditcrunch unconventional ZIRP austerity PIIGS greatdepression consumer deleveraging Japan balance sheet recessionhttps://pinboard.in/u:asterisk2a/b:1d1f457f1032/BBC News - Reinhart, Rogoff... and Herndon: The student who caught out the profs2013-04-21T23:39:48+00:00
http://www.bbc.co.uk/news/magazine-22223190
asterisk2a> Reply by Rogoff & Reinhart: 'We were only arguing association, not causality.' [...] Discovering a spreadsheet error was never going to end the debate over austerity - and nor should it, according to Megan McArdle, special correspondent for Newsweek and The Daily Beast. >> http://www.spiegel.de/wirtschaft/panne-mit-excel-tabelle-rogoff-und-reinhart-haben-sich-verrechnet-a-894893.html "Olivier Blanchard (IMF) gestand ein die negativen Effekte der Sparpolitik auf das Wachstum unterschätzt wurden." >> Updated paper from Rogoff & Reinhart http://www.nber.org/papers/w18015 >> http://krugman.blogs.nytimes.com/2013/04/16/holy-coding-error-batman/ http://www.guardian.co.uk/commentisfree/2013/apr/16/unemployment-reinhart-rogoff-arithmetic-cause]]>academics complexity sociology unintended consequences zombie banks academia science liquidity-trap banking crisis carmenreinhart political folly bank macroeconomics lostdecade policy macroeconomic debtoverhang lostgeneration economic history philosophy fiscal social confidence KennethRogoff error trustagent paulkrugman austerity consumer deleveraging IWF Richardkoo balance sheet recession IMFhttps://pinboard.in/u:asterisk2a/b:78e43b7548a1/Bill Gross' World View In Four Words | Zero Hedge2013-04-21T22:36:20+00:00
http://www.zerohedge.com/news/2013-04-21/bill-gross-world-view-four-words
asterisk2a> "Tough Slog" or "The Unimaginable"]]>PIMCO debtoverhang QE 2013 trust GFC economic history confidence sovereign debt crisis trustagent ZIRP austerity liquidity-trap greatdepression deleveraging Bill Gross greatrecession balance sheet recessionhttps://pinboard.in/u:asterisk2a/b:d0db38b395db/BBC News - George Osborne warned by MPs over mortgage guarantee risks2013-04-20T03:18:44+00:00
http://www.bbc.co.uk/news/uk-politics-22214546
asterisk2a> haven't they learned anything? subprime and house price bubble created itself by state guarantees introduced by gwbush to push home owner ship. - history doesn't repeat, but rhymes - market prices though information. distortion by brining in more normally ineligible buyers. - Osborne tackling an effect of income stagnation and excessive inflation + zombie consumers and zombie banks. First-time buyers unable to put up deposit. >> http://www.zerohedge.com/news/2013-03-20/uk-discloses-home-purchase-subsidy-part-its-latest-2013-budget]]>microeconomic policy monetary complexity asset bubble Mark Carney theory reflation unintended consequences zombie banks liquidity-trap distortion davidcameron BOE subprime political folly QE 2013 Plan B short-term thinking microeconomics disequilibrium economic history gwbush mortgage fraud UK error equilibrium fanniemae unconventional ZIRP austerity USA housing consumer market MervynKing subsidies freddiemac economics Funding for Lending Scheme GeorgeOsborne subsidizinghttps://pinboard.in/u:asterisk2a/b:d9c984e192c6/The Chart Making The Fed Nervous | Zero Hedge2013-04-19T23:21:09+00:00
http://www.zerohedge.com/news/2013-04-19/chart-making-fed-nervous
asterisk2a> this whole this is a replay of Japan 90s and 2000s]]>monetary policy deposit haircut Europe reflation zombie banks BOE banking crisis deflation BOJ Cyprus levy folly QE SIFI PIGS UK Error bail-in trustagent austerity greatdepression consumer inflation expectation deleveraging IMF balance sheet recession GFC theory output-gap derivatives liquidity-trap Troika ECB Insured Bank Deposits political greatrecession lostdecade debtoverhang FDIC LTRO OMT Fed trust economic history confidence sovereign debt ZIRP USA PIIGS toobigtofail POMO Japanhttps://pinboard.in/u:asterisk2a/b:3d0b6fca1211/El-Erian's Summary: "Virtually Every Market Is Trading At Very Artificial Levels" | Zero Hedge2013-04-17T18:54:32+00:00
http://www.zerohedge.com/news/2013-04-16/virtually-every-market-trading-very-artificial-levels
asterisk2a> "if these levels aren’t validated by the fundamentals, then investors will get hurt." WORTH LISTENING EVERY MINUTE. > http://www.zerohedge.com/news/2013-04-16/not-what-low-volatility-environment-looks > http://www.zerohedge.com/news/2013-04-16/margin-clerks-were-working " Long experience in the markets will inform you that this kind of massive sell-off is indicative of someone or perhaps a numbers of someones with serious problems. " [...] The markets can turn on a dime and the move can be severe and painful. [...] The cash provided by the Central Banks has been leveraged to the nines as indicated by the severity of the sell-off in both gold and equities. > Europe lost out on design and execution to overcome crisis. > Rating Agencies have monopoly. With monopoly comes problems. > Trust, but verify.]]>unemployment monetary policy bond bubble asset modern theory Europe zombie banks New Normal BOE BOJ Gold Structural Impediments Equity QE 2013 UK debt monetisation creditcrunch imbalance Error trustagent austerity greatdepression consumer deleveraging ratingagencies monetization balance sheet recession PIMCO Politics GFC unintended consequences liquidity-trap ECB restructuring system political folly income growth China greatrecession uncertainty lostdecade monopoly debtoverhang Fed trust economic history financial repression bubbles income-growth sovereign crisis unconventional ZIRP USA PIIGS Japanhttps://pinboard.in/u:asterisk2a/b:a254daae363d/Former ECB Board Member Bini Smaghi Says Draghi Will Weaken Euro - Bloomberg2013-04-17T13:57:33+00:00
http://www.bloomberg.com/news/2013-04-17/former-ecb-board-member-bini-smaghi-says-draghi-will-weaken-euro.html
asterisk2adouble-dip debtoverhang monetary policy 2013 trust economic history theory Europe MarioDraghi confidence structural imbalance creditcrunch sovereign debt crisis trustagent liquidity-trap PIIGS banking greatdepression ECB deleveraging bank greatrecession balance sheet recessionhttps://pinboard.in/u:asterisk2a/b:7c83231f0509/BBC News - Bank of Japan's Haruhiko Kuroda in aggressive growth move2013-04-08T23:48:22+00:00
http://www.bbc.co.uk/news/business-22023291
asterisk2a> http://www.boj.or.jp/en/announcements/release_2013/k130404a.pdf >> http://www.zerohedge.com/news/2013-04-04/boj-unveils-shock-and-awe-quantitative-qualitative-easing >> http://www.zerohedge.com/news/2013-04-04/boj-qeases-kurodas-shock-and-awe-post-mortem-goldman-and-socgen >> http://www.forexlive.com/blog/2013/04/04/boj-s-kuroda-no-concern-over-asset-or-jgb-bubble/ "accepts that monetary easing tends to weaken currency" http://www.forexlive.com/blog/2013/04/04/boj-temporarily-suspending-bank-note-rule-is-the-trigger/ >> http://youtu.be/GWAc56AFvbc & http://youtu.be/IOWrU0buNiA >> program not bigger than UK (BOE) QE program.]]>currency debasement monetization QE JGB 2013 monetary policy war bond bubble economic history bubbles theory reflation unintended consequences debt monetisation structural imbalance ZIRP liquidity-trap deflation BOJ currency-war Abenomics lostdecade Japanhttps://pinboard.in/u:asterisk2a/b:dfc0a77ed7db/Kyle Bass: "Japanese Retirees Will Lose Up To Half Of Their Life Savings" | Zero Hedge2013-04-08T19:13:47+00:00
http://www.zerohedge.com/news/2013-04-07/kyle-bass-japanese-retirees-will-lose-half-their-life-savings
asterisk2a> 70 year debt super cycle winding down. Creative Destruction Never happened in Japan. Disorderly Yen move because of loss of confidence and trust. Social fabric will be torn. Likely that G7 / G20 start to mistrust each other. There is no 'if', there is only 'when'. The crowd doesn't get the moves right. >> http://www.zerohedge.com/news/2013-04-07/japanese-finance-ministry-warns-surge-jgb-volatility-may-lead-sharp-bond-selloff >> http://www.zerohedge.com/news/2013-04-07/livid-chinese-economists-call-boj-decision-monetary-blackmail-demand-chinese-central >> http://www.zerohedge.com/news/2013-04-07/nikkei-63000000-and-other-flashbacks-complete-dylan-grice-japan-series]]>monetization currency debasement monetary policy Politics unintended consequences G7 zombie banks Yen liquidity-trap social fabric BOJ currency-war Abenomics unrest greatrecession lostdecade folly QE JGB 2013 trust economic history confidence debt monetisation bubble Error trustagent ZIRP greatdepression G20 toobigtofail centralbanks Japanhttps://pinboard.in/u:asterisk2a/b:f3135d622c3f/UniCredit Says Global Rule Needed to Bail In Big Deposits - Bloomberg2013-04-08T17:56:08+00:00
http://www.bloomberg.com/news/2013-04-04/unicredit-s-ghizzoni-favors-using-big-deposits-in-bank-failures.html
asterisk2a> Cyprus bail-in was just the beginning of the end. Nothing is save. History doesn't repeat, but it rhymes. >> This shit scares people. >> http://www.zerohedge.com/news/2013-04-08/confidence-dollar-wanes-over-dozen-states-push-gold-legal-tender / http://www.zerohedge.com/news/2013-04-08/european-financials-drop-7-month-lows]]>Europe haircut zombie banks liquidity-trap banking crisis ECB Cyprus bank unicredit greatrecession policy folly QE debtoverhang 2013 trust confidence sovereign debt Error bail-in trustagent ZIRP PIIGS greatdepression toobigtofail balance sheet recession bailouthttps://pinboard.in/u:asterisk2a/b:598a464b2268/QE4: Now Japan eases and in earnest - YouTube2013-04-05T01:59:15+00:00
http://www.youtube.com/watch?v=IOWrU0buNiA
asterisk2amonetization bubble liquidity-trap QE monetary policy 2013 BOJ system theory debt monetisation structural imbalance Japanhttps://pinboard.in/u:asterisk2a/b:c508e2147be8/Bank Of Japan May Buy Derivatives Next | Zero Hedge2013-03-12T02:11:59+00:00
http://www.zerohedge.com/news/2013-03-11/bank-japan-may-buy-derivatives-next
asterisk2acurrency debasement QE monetary policy 2013 fiat economic history theory modern derivatives liquidity-trap ZIRP deflation BOJ currency-war abenomics inflation lostdecade Japanhttps://pinboard.in/u:asterisk2a/b:d3311951ad80/The IMF on the Austerity Trap - NYTimes.com2013-03-10T15:41:14+00:00
http://krugman.blogs.nytimes.com/2013/03/10/the-imf-on-the-austerity-trap/?smid=tw-share
asterisk2aQE 2013 multiplier-effect Politics creditrating trust economic history multiple equilibria UK confidence structural imbalance trustagent ZIRP liquidity-trap paulkrugman austerity global imbalances ratingagencies GeorgeOsborne IMFhttps://pinboard.in/u:asterisk2a/b:48334ddadd4e/Stephen Roach On Why Abe's Aggression Won't Save Japan //via ZeroHedge2012-12-30T20:08:54+00:00
http://www.project-syndicate.org/commentary/why-quantitative-easing-will-not-save-japan-by-stephen-s--roach
asterisk2aUK stephenroach liquidity-trap currency-war currency debasement banking crisis debtoverhang France structural imbalance status quo Politics liberal economic reform PIIGS Europe savings glut zombie consumer greatrecession GFC Richardkoo banks Japan lostgeneration lostdecade 2013 sovereign debt unintended consequences monetisation ZIRP QE history 2012 monetary theory policy Abenomics BOE BOJ ECB Fed USA balance sheet recession consumptionhttps://pinboard.in/u:asterisk2a/b:abe63e332270/Rumor NY consulting shop says ECB could go to negative deposit rates in September | ForexLive2012-07-14T00:58:59+00:00
http://www.forexlive.com/blog/2012/07/13/rumor-ny-consulting-shop-says-ecb-could-go-to-negative-deposit-rates-in-september/
asterisk2aPolitics France Germany sarkozy FrancoisHollande angelamerkel greatrecession GFC liquidity-trap liquidation LTRO QE 2012 PIIGS Europe zombie banks NPL creditcrunch confidence trustagent trust sovereign debt crisis debtoverhang BIS ECB monetary theory policy System error inflation deflation ZIRP NIRPhttps://pinboard.in/u:asterisk2a/b:f8fe9f7609cc/Dallas Fed's Fisher "Perplexed" By Wall Street "Fetish" With QE3 And Disgusted With The Addiction To "Monetary Morphine" | ZeroHedge2012-03-06T00:45:16+00:00
http://www.zerohedge.com/news/shocked-dallas-feds-fisher-perplexed-wall-street-fetish-qe3-and-its-addiction-monetary-morphine
asterisk2aaddiction quantitative-easing Fed BOE ECB greatrecession GFC sovereign debt crisis liquidity-trap monetary policy unintended consequences LTRO QE ZIRPhttps://pinboard.in/u:asterisk2a/b:d40ef757976b/The ECB's LTRO and the Fed's testimony: How to read a central bank | The Economist2012-03-04T08:16:55+00:00
http://www.economist.com/blogs/freeexchange/2012/02/ecbs-ltro-and-feds-testimony
asterisk2a On little change in the wording of the testimony set of a good slide in Gold and EUR, and a good rise in USD. One little change.]]>reflation 2012 benbernake ZIRP quantitative-easing liquidity-trap LTRO QE Fed ECBhttps://pinboard.in/u:asterisk2a/b:ee4d095ba509/Bill Gross On Minsky's Take Of The Liquidity Trap: From "Hedge" To "Securitised" To "Ponzi" | ZeroHedge2012-02-07T00:14:05+00:00
http://www.zerohedge.com/news/bill-gross-minskys-take-liquidity-trap-hedge-securitised-ponzi
asterisk2aPIMCO economics economic-thought liquidity-trap monetary policy Fed 2012 ZIRPhttps://pinboard.in/u:asterisk2a/b:68564943571d/Repairing the Global Plumbing - Mohamed A. El-Erian - Project Syndicate2012-01-20T22:38:31+00:00
http://www.project-syndicate.org/commentary/elerian13/English
asterisk2apolitics folly growth Portugal Greece haircut UK USA Europe crisis debt sovereign GFC 2012 recession balancesheet richardkoo liquidity-trap liquidity LTRO BOE Fed ECB policy fiscal monetaryhttps://pinboard.in/u:asterisk2a/b:d26bfee5c520/ECB's Balance Sheet Now Far Bigger Than Fed's, More Levered Than Lehman, PIIGS Exposure Up 50% In 6 Months | ZeroHedge2011-12-20T22:46:23+00:00
http://www.zerohedge.com/news/ecbs-balance-sheet-now-far-bigger-feds-more-levered-lehman-piigs-exposure-50-6-months
asterisk2aPIIGS solvency Europe creditcrunch liquidity-trap liquidity QE SMP leverage 2011 balancesheet Fed ECBhttps://pinboard.in/u:asterisk2a/b:e8e75d59d13d/Bernanke Turns Timid in Krugmans View - Bloomberg2011-08-29T18:34:29+00:00
http://www.bloomberg.com/news/2011-08-29/bernanke-turns-timid-in-krugman-view-of-princeton-colleagues-eyeing-japan.html
asterisk2aJacksonHole 2011 greatrecession recovery Fed monetary fiscal policy USA Japan lostdecade paulkrugman QE stimulus reform ZIRP history liquidity-trap balancesheet recession richardkoo debtoverhang debt sovereign crisishttps://pinboard.in/u:asterisk2a/b:7c0fc5ae53e7/Will Latest Market, Credit Woes Add Up to a 'Global Recession'? - YouTube2011-08-09T13:08:59+00:00
http://www.youtube.com/watch?v=67F4hTtCNa4
asterisk2aKennethRogoff GFC paulkrugman 2011 greatrecession barackobama presidency monetary fiscal policy politics mistake folly sovereign debt ceiling debtceiling crisis August PIIGS Fed ECB economy recovery GDP growth QE QE3 debtoverhang inflation deflation deleveraging Japan lostdecade history lesson liquidity-trap greatdepression austerity unemployment output-gap moneysupply monetization BOE UK europe USAhttps://pinboard.in/u:asterisk2a/b:ca0c37706715/McCulley Says U.S. Economy Is Caught In `Liquidity Trap' - YouTube2011-08-05T23:18:17+00:00
http://www.youtube.com/watch?v=RbY1qQ5s03Q
asterisk2adeleveraging liquidity demand USA 2011 liquidity-traphttps://pinboard.in/u:asterisk2a/b:c3d2dd7734c7/BIS: interest rates too low | City A.M.2011-06-27T12:26:12+00:00
http://www.cityam.com/news-and-analysis/bis-interest-rates-too-low
asterisk2aZIRP unintended consequences bubble BOE BOJ Fed ECB recovery monetary policy 2011 greatrecession creditcrunch liquidity-trap liquidity reflation reflate balancesheet recession commoditieshttps://pinboard.in/u:asterisk2a/b:af482672b523/Schwarzman Says Cheap Financing Is Pushing Up Prices of Buyouts - Bloomberg2011-04-25T20:56:03+00:00
http://www.bloomberg.com/news/2011-04-25/schwarzman-says-cheap-financing-is-pushing-up-prices-of-buyouts.html
asterisk2aFed 2011 monetary policy Blackstone liquidity liquidity-trap privateequity account LBO USA Dollarhttps://pinboard.in/u:asterisk2a/b:fd1d48785e3b/Fed has provided all the liquidity U.S. needs: Fisher | Reuters2011-04-13T01:13:40+00:00
http://www.reuters.com/article/2011/04/12/us-usa-fed-fisher-idUSTRE73B70A20110412
asterisk2agreatrecession Fed liquidity liquidity-trap 2008 QE ZIRP insolvent insolvency economics economyhttps://pinboard.in/u:asterisk2a/b:170a7ec1d147/YouTube - Recapitalizing the Banks but Decapitating the Economy | Robert P. Murphy2010-10-11T21:57:17+00:00
http://www.youtube.com/watch?v=urHCAfwxSVg
asterisk2aTARP 2010 timgeithner creditcrunch USA ZIRP bonds treasury treasuries yield liquidity liquidity-trap Fed debt monetization GSEhttps://pinboard.in/u:asterisk2a/b:76cb77a45fa0/If It Smells Like A Funding Crisis And It Looks Like A Funding Crisis... | zero hedge2010-05-05T12:46:46+00:00
http://www.zerohedge.com/article/if-it-smells-funding-crisis-and-it-looks-funding-crisis
asterisk2aoutlook usa economy may 2010 greece europe leadership angelamerkel bailout germany default restructuring sovereign debt liquidity liquidity-trap creditcrisis creditcrunch 2011 goldhttps://pinboard.in/u:asterisk2a/b:8c7cb15b7143/FT Alphaville » America is Lehman-fied2010-02-13T19:58:35+00:00
http://ftalphaville.ft.com/blog/2010/02/12/148376/america-is-lehman-fied/
asterisk2aCDS liquidity liquidity-trap lehmanbrothers USA europe derivatives recession recovery greatrecession debt market uncertainty 2010 2009https://pinboard.in/u:asterisk2a/b:690863daf4dc/Route to Recovery a Long, Global March at SmartMoney.com2009-10-19T21:35:41+00:00
http://www.smartmoney.com/investing/economy/route-to-recovery-a-long-global-march/
asterisk2astockmarket rally 2009 recession recovery USA liquidity excess liquidity-trap monetary fiscal policy dollar currency weaknesshttps://pinboard.in/u:asterisk2a/b:9d864f02b39b/FT.com | Economists' Forum | Zero interest rate policy: Treatment may be as expensive as the crisis2009-10-18T11:31:04+00:00
http://blogs.ft.com/economistsforum/2009/10/zero-interest-rate-policy-treatment-may-be-expensive-as-the-crisis/
asterisk2aliquidity-trap japan lostdecade USA 2009 fed ECB uk BOE interestrate monetary policy ZIRP zero-interest-rate-policyhttps://pinboard.in/u:asterisk2a/b:d41d90ade206/RGE - The Great Preventer2009-08-05T01:38:29+00:00
http://www.rgemonitor.com/roubini-monitor/257374/the_great_preventer
asterisk2aNourielRoubini benbernanke alangreenspan recession fed monetary policy moralhazard liquidity liquidity-trap inflation dollar bubblehttps://pinboard.in/u:asterisk2a/b:8a13c9eb9d6f/