singular_me
3rd March 2016, 01:11 PM
wealth illusion becoming clearer.
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Central Bankers Admit that Central Banks Have Failed to Fix the Economy
3rd March 2016
The current head of the Bank of England (Mark Carney) said last week:
The global economy risks becoming trapped in a low growth, low inflation, low interest rate equilibrium. For the past seven years, growth has serially disappointed—sometimes spectacularly, as in the depths of the global financial and euro crises; more often than not grindingly as past debts weigh on activity ….
This underperformance is principally the product of weaker potential supply growth in virtually all G20 economies. It is a reminder that demand stimulus on its own can do little to counteract longer-term forces of demographic change [background] and productivity growth.
***
In most advanced economies, difficult structural reforms have been deferred [true, indeed]. In parallel, in a number of emerging market economies, the post-crisis period was marked by credit booms reinforced by foreign capital inflows [including from central banks themselves], which are now brutally reversing….
Former Federal Reserve chairman Alan Greenspan said today that the Dodd-Frank financial bill didn’t fix anything [d’oh!], that we’re in real trouble, and that he’s been pessimistic for a long time:
We’re in trouble basically because productivity is dead in the water…Real capital investment is way below average. Why? Because business people are very uncertain about the future.
http://www.washingtonsblog.com/2016/03/central-bankers-admit-central-banks-failed-fix-economy.html#more-54205
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"We're In Trouble": Alan Greenspan Delivers Stark Warning
Tyler Durden's picture
03/01/2016
http://www.zerohedge.com/news/2016-03-01/were-trouble-alan-greenspan-delivers-stark-warning
-----------------------------------------------------------
Central Bankers Admit that Central Banks Have Failed to Fix the Economy
3rd March 2016
The current head of the Bank of England (Mark Carney) said last week:
The global economy risks becoming trapped in a low growth, low inflation, low interest rate equilibrium. For the past seven years, growth has serially disappointed—sometimes spectacularly, as in the depths of the global financial and euro crises; more often than not grindingly as past debts weigh on activity ….
This underperformance is principally the product of weaker potential supply growth in virtually all G20 economies. It is a reminder that demand stimulus on its own can do little to counteract longer-term forces of demographic change [background] and productivity growth.
***
In most advanced economies, difficult structural reforms have been deferred [true, indeed]. In parallel, in a number of emerging market economies, the post-crisis period was marked by credit booms reinforced by foreign capital inflows [including from central banks themselves], which are now brutally reversing….
Former Federal Reserve chairman Alan Greenspan said today that the Dodd-Frank financial bill didn’t fix anything [d’oh!], that we’re in real trouble, and that he’s been pessimistic for a long time:
We’re in trouble basically because productivity is dead in the water…Real capital investment is way below average. Why? Because business people are very uncertain about the future.
http://www.washingtonsblog.com/2016/03/central-bankers-admit-central-banks-failed-fix-economy.html#more-54205
================================================== =======
"We're In Trouble": Alan Greenspan Delivers Stark Warning
Tyler Durden's picture
03/01/2016
http://www.zerohedge.com/news/2016-03-01/were-trouble-alan-greenspan-delivers-stark-warning