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Re: BIS to Limeys:- You are Finished !
Interestingly, the article references a paper presented by the BIS at Jackson Hole in which the authors suggest that excessive private sector debt can damage economies. Officialdom may be inching its way towards accepting this now blindingly obvious fact:Originally posted by Mega View Post
Full paper here.As modern macroeconomics developed over the last half-century, most people either ignored
or finessed the issue of debt...
Yet, as the mainstream was building and embracing the New Keynesian orthodoxy, there
was a nagging concern that something had been missing. On the fringe were theoretical
papers in which debt played a key role, and empirical papers concluding that the quantity of
debt makes a difference. 4 The latest crisis has revealed the deficiencies of the mainstream
approach and the value of joining those once seen as inhabiting the margin. -
Re: BIS to Limeys:- You are Finished !
A quick search finds the word "Equity" once, (twice more in references), and Equity Capital not at all.
That is the underlying problem, no one today has any real understanding of the role of equity capital in a supposedly capitalist economy.Comment
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