RSS feedKenneth rogoff
’US unemployment is, well, not so bad!
The Oregon Office of Economic Analysis has ventured an update to Carmen Reinhart and Ken Rogoff’s ‘This Time it’s Different’, the seminal work on financial crises of the past – and their related analysis on the aftermath of financial crises.
In the long run we’re all…just fine (maybe)
We’re not known for our sunny disposition here at FT Alphaville, but it would be rude not to point out an uplifting message when one catches our eye. So, over to the Aid Watch blog (of all places)…
Drawing upon the lessons of This Time is Different,
800 years of financial folly
“Throughout history, rich and poor countries alike have been lending, borrowing, crashing and recovering their way through an extraordinary range of financial crises….”
That quote comes from Carmen M Reinhart and Kenneth Rogoff’s book “This time is Different – Eight Hundred Years of Financial Folly”.
One giant drop of cash for mankind?
European Union ministers are reportedly going to back a call from the IMF to double its funds to $500bn when they meet at this weekend’s G20 meeting in London.
Raising funds, of course, could be done in two ways.
Subprime CMBS
CMBS has long been speculated about as the next mortgage-backed penny to drop. Until recently, though, prices have -relatively speaking – held up quite well.
Here, however (HT Calculated Risk) is the latest CMBX chart from Markit (AA series 5):
“We’re only half way through…We’re going to see a whopper!”
Nouriel Roubini? Nah. Kenneth Rogoff.
The former IMF chief economist was speaking at a conference in Singapore on Tuesday, warning of much more pain to come. As he told Reuters:
The U.S. is not out of the woods.