You are here

Desperately saving the global economy

Central bankers should abandon QE and allow interest rates to go up, reinstating the price mechanism in the money market.

BACK TO THE GOOD OLD DAYS: People might actually like a state of affairs where those who save are rewarded, those who produce reap a long-term benefit, and those who follow sound financial management are praised.

IT is beginning to be conventional wisdom that the global economy is moving into a period of low growth. Apparently, it comes as a surprise. Sadly enough, the signals have been all too visible over the preceding decade without policymakers noticing. The culprit is a toxic cocktail of debt and...

Market voices on: