Growth in the spring?

In the movie Being There Chauncey Gardner predicted “there will be growth in the spring”. Ephemeral cherry blossoms are a welcome harbinger of spring. Unfortunately, April showers of poor economic data are going to continue for months to come, though substantial economic support from financial authorities does provide a tailwind to economies and financial markets. …read more

Government liabilities: the full picture

The debt-to-GDP ratio does not represent the full scope of government liabilities, potentially calling for alternative measures of a government’s default risk. Monetary policy constraints and demographic pressures are likely to call for increases in fiscal spending, further straining governments’ balance sheets The sustainability of a government’s balance sheet is likely to depend on the origin …read more