In short, Minsky’s FIH was ignored for far too long. At the same time, it has the potential to mislead people into thinking that booms are necessarily going to lead to busts and that private debt financed booms will tend to become speculative and ponzi booms. Additionally, the mainstream models that ignored debt and assumed that ponzi booms were unpredictable, is probably extreme. Cullen Roche PRAGMATIC CAPITALISM 11 April 2019
With growth likely to transition down toward the longer-term trend in 2019, expect monetary policy to remain on hold for the foreseeable future. If the Fed were to move, the odds still favor an interest rate cut over an increase. We are likely at the peak of this rate hiking cycle. Tim Duy Bloomberg 17 april 2019
Det erinrar om dagens situation där I USA centralbankschefen Greenspan försöker uppnå en "soft landing" på ekonomins hangarfartyg. Han känner att han inte kommer fram, drar gasen - räntan - i botten, men motorn, penningmängden, svarar inte. Farten sjunker. Rolf Englund i Smedjan nr 4/1992
Today the United States sits in the midst of the largest wealth bubble in post-World War II history, as measured by household net worth (or wealth) relative to gross domestic product “well-intentioned government policies aimed at reducing the systemic risks of a crisis in the global financial system may have the unintended and perverse consequence of actually increasing the risk of such a crisis.” Or Hyman Minsky’s analysis of why stability is destabilizing.
Technocrats face a difficult challenge. The rich world has hardly any room to cut interest rates before hitting zero, so central banks will once again have to turn to unconventional stimulus, such as bond-buying.
We are back to facing the same question as in 2016: What to do if stagnation threatens when interest rates are already close to zero? The depth of the subsequent recession, and the long period of slow growth
that followed, was the result not of continued financial system
fragility, but of the excessive leverage in the real economy that had
developed over the previous half-century.
In 1992, the Danes voted against Maastricht; their government secured opt-outs and, in 1993, the public backed the Treaty on a second referendum. In 2001, the Irish rejected the Nice Treaty; a year later, after caveats, they gave it the nod. In 2005, France and the Netherlands voted down the EU constitution; the EU repackaged the constitution as the Lisbon Treaty and carried on merrily. The Irish said no to Lisbon in 2008 but affirmed it after a rethink in 2009. Local politicians have been instrumental to these reversals. Tim Stanley Telegraph 8 April 2019
Ett svenskt medlemskap i euron är inte aktuellt just nu.
Ulf Kristersson 16 maj 2018
Moderaterna inför EU-valet 2014:
"Vi är i grunden positiva till en gemensam valuta"
Vid sitt framträdande hos SNS talade Göran Persson om Europaparlamentets växande maktambitioner. - Man måste behandla dem artigt och med respekt, annars blir det låsningar, ungefär så sade Göran Persson, som uppskattat sina möte med de andra Stats- och regeringscheferna i Det Europeiska Rådet.
Integrated capital markets require effective supervision. As a starting point, the European Securities and Markets Authority (ESMA) should contribute to further convergence of supervisory practices, in accordance with its mandate, notwithstanding the open debate on future integration steps. The recent agreement on the framework for the European System of Financial Supervision will also contribute to more harmonisation. Such a Financing Union would be a decisive and feasible step to complete our Economic and Monetary Union. François Villeroy de Galhau, Governor of the Banque de France and Dr Jens Weidmann, President of the Deutsche Bundesbank Deutsche Bundesbank 4 april 2019
Gabriel Felbermayr, head of the Kiel Institute for the World Economy, said the EU’s Brexit strategy had gone off the rails and should be stopped before it does any more harm to long-term relations with Britain.
A new formula must be found to ensure friendly ties with countries on the outer rim of the European continental system that do not wish to be part of ever-closer union.
British Prime Minister Tony Blair put his personal seal of approval on Libya's return to international respectability by shaking hands Thursday with Libyan leader Moammar Gaddafi in a ceremonial Bedouin tent near Tripoli.
Blair's visit to the home of the Arab ruler, whom President Ronald Reagan once described as the "mad dog of the Middle East," constituted a diplomatic reward for Gaddafi's agreement to dismantle Libya's weapons of mass destruction programs and condemn terrorism.