Category Archives: Euro Crisis

Top Blogs Revisited -An in Depth Look at Deleveragings – Ray Dalio – Bridgewater

September 2, 2018 By in Austerity, Brexit, Business Administration, Economics, Euro Crisis, Extreme left, Extreme right, Far Right, Far-left politics, Fiscal Policy, Growth, Immigration, Neoliberal, People, Politics, Uncategorized Leave a comment

This is an excellent article looking at good, bad and ugly deleveraging experiences over the last century. It is written by Ray Dalio, billionaire,  head of the World’s largest hedge fund operator, Bridewater Associates. I STRONGLY RECOMMEND this article for a deeper understanding of the deleveraging debate underpinning the argument of the austerian politicians in the  US, the UK and Germany.

Open this link to read the article which is in PDF format.

The article is quite long but easy to read with lots of interesting colored charts.

Based on historic precedent, I think that there is hard evidence that austerity has been too severe in many countries since the financial collapse in 2008, especially in the UK and Southern Europe.

Good national economic house-keeping as advocated by Germany makes excellent sense but as this article explains there are different rates of pain associated with different deleveraging strategies; also and most critically because of the Euro and the European Commission, Southern European countries do not have a full range of economic policy tools, both in terms of fiscal and monetary policy.

Any thoughts?

(Originally published in this blog, July 14, 2013)

Opinion – Neil Kinnock warns Jeremy Corbyn: ‘Stop Brexit to save NHS’ – Guardian/Observer

February 18, 2018 By in Euro Crisis, Extreme left, Far-left politics, Fiscal Policy, Foreign Policy, People, Politicians, Politics Tags: , , , , , , , Leave a comment

Here’s an important article in the Observer by Miles Savage, Policy Editor, citing remarks by Neil Kinnock. I never thought that I would ever agree with Neil Kinnock. For me, Kinnock always flew a false flag – built his career as a socialist but then the Kinnock family cleaned up with some gold-plated EU questions. But Kinnock is right to highlight that Jeremy Corbyn’s Brexit strategy is wishy-washy. The bottom line is Corbyn has a brilliant opportunity to decisively take the lead on Brexit, and give us a vision of his potential leadership of the UK. Unfortunately, Corbyn is still a protest politician, unable to deliver change – he prefers to sow disruption and wait for the revolution. Thoughts?