8th August 2012
Ever since the global financial crisis, in which he pushed the nation's central bank into radical actions not attempted since it was founded in 1913, Ben Bernanke has "looked the part of a quiet academic who would rather be working on his next paper for the Journal of Money, Credit and Banking." Bloomberg
Economist Edoardo Campanella argues that the eurozone will eventually have to adopt a common language if it wants to survive. "So far," however, "political myopia and national interests have prevented European leaders from formulating a common language policy." Wonkblog
In comparing America's core inflation with its employment-population ratio since 2010, Matthew O'Brien uses a graph to show us what a recovery with a 2 percent inflation ceiling looks like. (Note: if you're hoping to see a jobs recovery, you're gonna have to squint reaaaaaaalllly hard.) The Atlantic
Jeffery Sachs says that if investors are waiting for a miraculous delivery from the crisis by either the ECB or the Fed, they will be waiting for a very long time. "The economic problems in the U.S. and Eurozone are mostly structural, not monetary. Huffington Post
Over the next three months, Michael Pettis expects to see a rebound in Chinese GDP growth as investment expands. He doesn't think, however, "that any rebound or recovery will last more than one or two quarters, and even then it is going to be a very tedious and lop-sided recovery." Naked Capitalism
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