•Says risks for Italy are still tilted to the downside •Sees possible gradual increase in output in next quarters •Sees 1.1% growth in 2015 (slightly below official forecasts of 1.3%)
Feds , ecb, boj , and boe are all pretty much as dumb as rocks. Increasing liquidity and debt does not increase inflation. Fiscal changes to improve labor market is key. That is why there is low inflation
Feds , ecb, boj , and boe are all pretty much as dumb as rocks. Increasing liquidity and debt does not increase inflation. Fiscal changes to improve labor market is key. That is why there is low inflation
Ignored
Actually , Technically the definition of inflation in this circumstance is an increase in the money supply, inflation in US measured by metrics in use until the late 1990's is 7.6%.
For me, the entire Western worlds problem resides with the size of the Government. In the UK it is estimated 54% of the populace work for (full and part time) the Government.
In the 1890's with an Empire where the sun never set and over 33% of the Worlds populace under the UK's umbrella , just over 3,000 civil servants looked after it. Today (even with Scotland) but none of the rest of the Empire i.e. a populace of some 55Million souls , and with all the technology this number has expanded to over 300,000 civil servants.
I'd like to say UK was unique in this but Europe and US are in a similar pickle.
The maximum number of officials in Government including part time , should never exceed 10% of the populace , otherwise the Laffer curve gets stretched and the productive private money generating part of the economy puts its feet up.
With over 50% of the populace now taking Fat Government pensions and Wages , sadly I feel we need to change or face a rather difficult future financially (well, not the people reading this article but everyone who can't trade