Posted by WARREN MOSLER on 18th August 2011
Their multi year budget surplus and subsequent crash was about 10 years ahead of ours.
Glad we learned from their mistakes…
Click here for larger graph
Posted in Government Spending, Japan, USA | 13 Comments »
Posted by WARREN MOSLER on 18th August 2011
If these forecasts turn out to be correct it means a hard landing was avoided.
However, China’s stock market prices, anecdotal evidence on property prices, and commodity price performance is suggesting it could already be a lot worse than forecast.
Morgan Stanley, Deutsche Bank Cut Forecasts for China Growth
August 17 (Bloomberg) — Morgan Stanley (MS) and Deutsche Bank AG cut estimates for China’s economic growth as the debt burdens and elevated unemployment of developed nations threaten demand for exports.
Morgan Stanley cut a forecast for next year to 8.7 percent from 9 percent, in an e-mailed note today. Deutsche Bank lowered a prediction for this year to 8.9 percent from 9.1 percent, in a report yesterday.
Posted in China | 4 Comments »
Posted by WARREN MOSLER on 18th August 2011
Starbucks Brews D.C. $$ Boycott
Starbucks claims it has rallied ‘hundreds’ of people in support of a call by its CEO to suspend campaign contributions to Congress and Obama until Washington produces a long-term deficit plan.
Posted in Government Spending | 42 Comments »
