Emerging Markets Archive

ILO global unemployment report

They don’t need to ‘create jobs’ as there is already more to do than there are people to do it. They need to remove fiscal drag with tax cuts and/or spending increases to allow the needs to be funded: Sustained Global Unemployment: Interesting stats from the International Labor Organization noting that there ...Read More

Credit spillovers from Eur banks to EM

Makes sense. I always wondered how that loan demand was accommodated. Never looked like the kind of lending US regulators would sanction. Karim writes: Interesting table from JPM. Much larger dependence on credit from Eur banks for LATAM economies than from U.S. banks. Poland/Russia not as surprising but still large! Overall, domestic ...Read More

thoughts on the euro

So my story has been that while most thought QE was a bumper crop for the dollar- Fed printing money and flooding the system with liquidity and all that- It was in fact a crop failure for the dollar, as evidenced by the Fed turning over $79 billion in QE profits (that ...Read More

China Daily | Zhou Pledges More Tightening as China Raises Reserve Ratios

As previously discussed, changing reserve ratios and the like does nothing more than raise the cost of funds to the banks, much like a ‘normal’ rate hike. And, also as previously discussed, higher rates more often than not add to inflationary pressures, rather than subtract from them. Ultimately, it is the fiscal ...Read More

Obama and GE working together

“For America to compete around the world, we need to export more goods around the world. That’s where the customers are. It’s that simple,” Obama said. Yes, and only because he and our Congress are grossly overtaxing us for the size govt we have along with our current credit and trade conditions. ...Read More

Brazil’s Mantega

The Brazilian miracle- Tight enough fiscal/low enough domestic demand for an appreciating currency, FX buying to keep it there and support the exporters with lower real wages = ‘good looking’ Financials at the expense of the overall real standard of living *DJ Brazil’s Mantega: Dollar Weaker Globally On US Econ Improvement *DJ ...Read More

Comments on BS2 (Bernanke speech #2)

Rebalancing the Global Recovery Chairman Ben S. Bernanke November 19, 2010 The global economy is now well into its second year of recovery from the deep recession triggered by the most devastating financial crisis since the Great Depression. In the most intense phase of the crisis, as a financial conflagration threatened to ...Read More


Please comment: We Can Have Low Priced Imports and Good Jobs for All Americans ...Read More

My alternative proposal on trade with China

We can have BOTH low priced imports AND good jobs for all Americans Attorney General Richard Blumenthal has urged US Treasury Secretary Geithner to take legal action to force China to let its currency appreciate. As stated by Blumenthal: “By stifling its currency, China is stifling our economy and stealing our jobs. ...Read More

Warren presenting May 5 in Manila

Forum on “A Fresh Perspective on Critical Development Issues” ...Read More