Tag: japan

IMF "Baseline Scenario" Projects Spain Unemployment Will Remain Above 25% for 5 Years with Little Growth
August 3, 2013 0

IMF "Baseline Scenario" Projects Spain Unemployment Will Remain Above 25% for 5 Years with Little Growth

By News Desk

I am normally critical of IMF forecasts, but their baseline unemployment projection for Spain of 25% or more with no more than .6% annual growth through 2017 seems reasonable. The pessimistic scenario is a toxic deleveraging downward spiral that continues right now. The optimistic scenario assumes 2% growth, but that scenario does not start until 2018, and only if labor reforms in Spain and Europe take place

About that "Beat the Street" GDP Number
July 31, 2013 0

About that "Beat the Street" GDP Number

By News Desk

My friend "BC" says How convenient, otherwise real GDP would have printed at 0.8%, prices constant.  Yet, the yoy rate of real final sales per capita is below 1% for the second quarter in a row, whereas the second quarter annualized rate is near contracting. Had the deflator been reported at the rate in Q1, the yoy and 2-qtr. annualized real final sales per capita rates would have been reported as contracting

Former ECB Chief Economist Warns "ECB Will Soon Have to Support France with Bond Purchases"
July 29, 2013 0

Former ECB Chief Economist Warns "ECB Will Soon Have to Support France with Bond Purchases"

By News Desk

Juergen Stark, former ECB chief economist (who resigned in 2011 over a dispute regarding bond purchases), says in an interview in Handelsblatt "The Euro crisis will worsen in late autumn" Via Google Translate A year ago, ECB chief Draghi announced plans to do anything to save the euro. The former ECB chief economist Juergen Stark considers this fatal. He fears that the ECB will soon have to support France with bond purchases