That economic recovery in the U.S. – the engine for growth in far away places, like Ireland, the hope of the IMF, the beacon of the dream that debt stimulus is a fine way to repair structurally weakened (let alone devastated – as in the Euro area) econ…
In the previous post I shared my view of the QE. Here is the best, most succinct summary of the effectiveness of the ‘most effective’ of all recent QEs: the US example via @Convertbond:Nails it.
ECB’s QE programme launched this month is targeting wrong policy and likely to fuel an already massive bubble in stocks and bonds.
The new Budget is based on average oil price of USD50 pb, with expected GDP growth of -3% against inflation of 12.2% and USD/RUB exchange rate of RUB61.5.
the share of global debt that is trading at negative yields has now risen to 8% of the total debt outstanding.
Russian imports “will react strongly in 2015, partly dragged down by the economic contraction” and in part by weaker ruble and continued counter-sanctions.
Russian households are starting de-dolarising their accounts in the wake of some regained confidence in the Ruble and the banking sector:
I have written in the recent past about the bogus debate surrounding the ‘threat of deflation’ in the euro area.