Addicted to consumption | where does that leave Banks
Umair writes some great stuff, but this post is a classic, and a keeper. We re addicted to consumption , and Do we need razors with ten blades or a single blade that never dulls? are classic quotes that reverberate. The key backdrop in this piece [for me] is the comment on the financial system. America s Addiction and the New Economics of Strategy - Umair Haque Let s re-examine the house of cards that is the global financial system. Emerging markets seek export-led growth: they under
Secondary Sources: Inflation, Dollar, FHLBs
A roundup of economic news from around the Web. Think Hard on Inflation: Mark Gertler writes for the Financial Times that the U.S. must not act rashly on inflation. Lost in most of the commentary about inflation has been a careful inspection of its underlying mechanics. Almost all the recent increase in headline consumer price index inflation is due to rocketing energy and food prices. Inflation excluding energy and food is significantly lower Why care about headline inflation versus core inf
Mortgage Crisis Set To Last Until 2010
A report by Sir James Crosby, former chairman of HBOS into the state of the UK mortgage market found that there will be no quick fix to the current shortage of mortgages in the UK. The problem is related to the market for mortgage backed securities. Between 2001 and 2007, the total of secured mortgage lending rose from 13bn to 257bn. Since the credit crunch began last summer this source of funding has dried up. Lenders don t want to risk lending secured mortgage funds in an era of declining p