February 27, 2018
THANKS, W, BEN AND UR!:
The Market Dogs That Didn't Bark (ANATOLE KALETSKY, 2/27/18, Project Syndicate)
[T]he world economy is now firing on all cylinders. Every region is now following the US post-2008 roadmap of aggressive monetary stimulus and bank recapitalization, but with long delays that have ranged from three years in Japan and China to six years in Europe and even longer in large emerging economies such as India, Russia, and Brazil.
Whatever else one thinks of them--obviously Left and Right hate them both--W and the UR will be remembered historically for teaming up to avoid economic catastrophe when the sub-prime loan fraud scandal caused a credit crunch that would have caused a depression in prior decades. Thankfully, W had Ben Bernanke in position at that moment.
Posted by Orrin Judd at February 27, 2018 4:15 AM