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Well, firstly, whole of Europe isn't one currency. Secondly, not everything for which there is a European precedent is likely to be extended to the whole world. [B] I am really not sure who's exporting whose economic policy where, to be honest. I completely agree that US and China have...

And Pissarides is a member of the Central Bank of Cyprus Monetary Policy Committee.

Firstly, their work dates from the 70s and the 80s, so it's not clear that the conclusion was quite that obvious back then. Secondly, even if it's obvious, it still has to be proven and explained rigorously. Sometimes, in fact, it's the obvious things that are the most difficult to prove.

Actually, I am pretty sure it's the aliens controlling everything. Don't tell anyone, but Britney Spears is involved as well.

I thought this is how capitalism is supposed to work? Don't corporations exist for the benefit of shareholders? I think this has already been well covered (Adam Smith, Karl Marx, etc), so I wouldn't hold your breath waiting for SEK 10mln to arrive in the post.

This is a load of bollox... If you actually read the IIF policy letter, you'll find that it's a rather tame call for more of the same, i.e. appreciation of the yuan, more fiscal consolidation in the West, increase in domestic demand in surplus countries, etc etc. There is nothing whatsoever in...

That's largely off the mark. The contraction in credit is not just a supply issue. Most recently it's been mostly a consequence of demand shrinking due to deleveraging. Banks are investing in government bonds, but it's mostly not because they're afraid to lend to businesses. It's because a)...

First of all, how can it be ad hominem? Did I say anything offensive about you or belittle you in some other way? I would gladly point out the particular points where I believe your statements to be incorrect. Secondly, what do you mean "my usual ad hominem approach"? Do I normally insult...

Beautifully said, GoC... Respect.

This, definitely...

Quite apart from you being incorrect on a variety of points above, what does it have to do with the OP's absurd idea? Are you telling me that you seriously expect punters to become the financial transmission channel for the real economy?

Are you serious?

Nothing exciting here. Just NNT being an enfant terrible and a media whore again.

Half of the people laid off in the public sector were census workers, while the other half were teachers being laid off by the various states.

Nah, even if the contract was with Leh, it was collateralized, so the losses he'd have suffered on Leh were to do with transaction costs associated with trying to replace the risk in a liquidity-impaired mkt. Which is why, these days, most cpties over-collateralize derivatives. The infamous...

It's not just Bullard having cold feet, interestingly. We obviously know about Hoenig, but more recently it's been Kocherlakota and Fisher coming out as not totally sold on QE2. Against them, in the red corner, we have Evans and Dudley.

I'm with GoC here. Yet again, I have to conclude that ZH is/are (a) total idiot(s). To suggest that this trade somehow is a no-brainer because it worked so well is, how do I put it, completely retarded. For all the indiscriminate abuse of the term "tail risk", the article totally disregards...

Well, to be honest, it's one of those rock/hard place things. If I am going to live in the UK, for example, I am going to be relying on the UK govt for many more important things than cashflows. Moreover, I have to own a diversified bunch of assets, so why not govt bonds? And if it's govt...

Well, here's my view... Any investment for which you can't unequivocally establish a fundamental value at all points in the future can be described by someone as a ponzi scheme. I don't really like the whole idea that somehow governments only have liabilities and no assets or cashflows...

Erm, I am not really sure what profound insight you might be seeking here... Governments are able a) to print money; b) impose taxes on their citizens. If the citizens are OK with the taxes (incl the potential inflation tax), repayment of interest, principal, whatever is not a problem. If the...