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David Young
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David Young is now following Stephen Gordon
Sep 26, 2012
The reason for the very episodic nature of this blog is that it is so big picture. When I wrote last summer of the rise of the 3rd German empire, you then sort of have to wait for it to happen. Same when I postulated that the world would evolve... Continue reading
Posted Jun 30, 2012 at Way the World Works
Markets like to climb a wall of worry. Greece didn't do it. Italy! Add in Spain and the whole Euro is going up in smoke! A Euro wide crisis! Stock fall, bonds fall.. There is no way Germany could rescue all of them and it doesn't even want to rescue... Continue reading
Posted Jul 12, 2011 at Way the World Works
The glut story so far: China keeps currency artificially low, creates huge current account surplus, buys treasuries with proceeds, sending US interest rates low, sending world in search of higher yielding US instruments, leading to criminal mis-rating of mortgage backed securities by US rating agencies... Leading to almost end of... Continue reading
Posted Jul 1, 2011 at Way the World Works
In our world of complex systems upon complex systems and man bred evolution in hyperspeed (Moore's Law for example), we seek simple straightforward explanations. And the press does its best to provide them. Today Greece. Will it survive? In 1979 I was a young banker in London and my bank... Continue reading
Posted Jun 25, 2011 at Way the World Works
As per wonderful Economist article of May 2011 - we have passed into the Anthropocene age - the beginning of the geological age of man. Nitrogen levels, CO2, 60% of all trees growing are planted or governed by Man, atmosphere, etc, etc. Up until now Man was a part of... Continue reading
Posted Jun 17, 2011 at Way the World Works
The problems are everywhere: slow growth by artificial stimulus. Housing overhang. Massive deficits and borrowing. High unemployment not budging. Government chaos as Democrats fight Republicans, embrace Tea Partiers, play roulette with debt limits and markets. Obamacare. Entitlements. Education failing badly. Infrastructure going 3rd world. Wars in Iraq & Afghanistan. ---... Continue reading
Posted Jun 17, 2011 at Way the World Works
After every crisis, pundits look for a repeat of the one before. A debt collapse in the US. Ah, the PIIGs are next. A repeat of 2008 is coming... --- No, it isn't, not from the Greeks, Portugese, Irish, etc., anyway. --- Unlikely to happen for a few years. Not... Continue reading
Posted Jun 10, 2011 at Way the World Works
This time it's different. I know. I know. They are almost never different. But some times they are so obviously different and yet no one notices - or in this case only notices the most obvious. I want to talk about fiat money, which became universal with Nixon in 1971.... Continue reading
Posted Jun 8, 2011 at Way the World Works
David Young is now following The Typepad Team
May 29, 2011