Salient to Investors: Clive Crook writes: The crash will recede, confidence will come back and stronger growth will resume. The zeal of Americans to work hard and prosper will prevail over the weary incompetence of the political class. Inequality is rising, but the theory that the US system is fundamentally
READ MORE... →Salient to Investors: Clive Crook writes: The US and advanced economies have not done enough to head off the next financial meltdown. Gain made in safety is likely to be too small even to offset the danger created since the crash by greater concentration in the finance industry. The emerging
READ MORE... →Salient to Investors: Clive Crook writes: The global economic recovery is hardly worthy of the name – the IMF again reduced its growth forecasts. Recessions involving financial crashes are harder to recover from than ordinary downturns. The failure of international cooperation is most egregious in the EU, where the EU core
READ MORE... →Salient to Investors: Clive Crook writes: The global economic recovery is hardly worthy of the name. The IMF has again reduced its forecasts for the world economy. Recessions involving financial crashes are harder to recover from. Two great failures of coordination receive scant economic discussion. Precious little effective international cooperation
READ MORE... →German insistence that EU support be directly to Spain’s government and not its banks had two fatal consequences. Adding to Spain’s public debt and possible subordinating existing bondholders. German taxpayers didn’t want the euro in the first place, correctly fearing it would become a transfer system for other countries’ profligacy. The choice is no longer
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