rcwhalen's blog

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Beijing leadership’s quandary is that the struggle to refashion the Chinese economy with further liberal economics comes up against the determined effort of the CCP to maintain its power monopoly

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GSE Reform Real and Imagined

Simply ending the corporate lives of Fannie Mae and Freddie Mac as the Johnson-Crapo proposal envisions is not sufficient

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Bottom line for financials is that 2014 is looking to be a tough year, even if the Sell Side wants to believe that growing earnings is still possible on flat revenue

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Just as in the 1930s the Fed fueled deflation by not making credit available, today the opposite seems to be the case – low rates are fueling deflation and preventing markets from clearing.

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There is no free lunch.  Either we kill growth via financial repression of savers or we embrace the painful process of debt restructuring for the major industrial nations.