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GF_459x306_Unsustainable-growth-jpg.jpg

The growth obsession

Too often I hear that growth is the solution to the economic and financial crisis. Sound economic growth is certainly a major constituent, but not the single most important factor of a rebalancing and improvement of the global economy. First and foremost, we should acknowledge that imbalanced, unhealthy and unsustainable growth has been one of the major contributors…

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GF_459x306_Unsustainable-growth-jpg.jpg

The growth obsession

Too often I hear that growth is the solution to the economic and financial crisis. Sound economic growth is certainly a major constituent, but not the single most important factor of a rebalancing and improvement of the global economy. First and foremost, we should acknowledge that imbalanced, unhealthy and unsustainable growth has been one of the major contributors…

Lees het volledige artikel

GF_459x306_Unsustainable-growth-jpg.jpg

The growth obsession

Too often I hear that growth is the solution to the economic and financial crisis. Sound economic growth is certainly a major constituent, but not the single most important factor of a rebalancing and improvement of the global economy. First and foremost, we should acknowledge that imbalanced, unhealthy and unsustainable growth has been one of the major contributors…

Lees het volledige artikel

126A4691-F7E6-1FE0-10733E995A54F11B.jpg

Not too much stress in the stress test

The Fed released the assumptions that served for the bank’s stress tests. These tests are used to assess the robustness of the banks in view of the 2009-2010 adverse economic scenario. An impressive 150 highly-skilled (at least they are supposed to be) people participated. And guess what? The results show that we can sleep on both ears! Oef! More than…

Lees het volledige artikel

126A4691-F7E6-1FE0-10733E995A54F11B.jpg

Not too much stress in the stress test

The Fed released the assumptions that served for the bank’s stress tests. These tests are used to assess the robustness of the banks in view of the 2009-2010 adverse economic scenario. An impressive 150 highly-skilled (at least they are supposed to be) people participated. And guess what? The results show that we can sleep on both ears! Oef! More than…

Lees het volledige artikel

126A4691-F7E6-1FE0-10733E995A54F11B.jpg

Not too much stress in the stress test

The Fed released the assumptions that served for the bank’s stress tests. These tests are used to assess the robustness of the banks in view of the 2009-2010 adverse economic scenario. An impressive 150 highly-skilled (at least they are supposed to be) people participated. And guess what? The results show that we can sleep on both ears! Oef! More than…

Lees het volledige artikel

1103E13A-950B-3225-BA41C9218B2E375F.jpg

US debt and growth bubble

This is a chart I made to illustrate that US GDP growth has been inflated by credit growth. It shows that the US was on an unsustainable growth path, fuelled by credit. 2000-2003 could have been a balancing period, but the Fed aborted this healing process by lowering interest rates, and encouraging cheap money. I have included a minus 5% growth for 2009, which would…

Lees het volledige artikel

1103E13A-950B-3225-BA41C9218B2E375F.jpg

US debt and growth bubble

This is a chart I made to illustrate that US GDP growth has been inflated by credit growth. It shows that the US was on an unsustainable growth path, fuelled by credit. 2000-2003 could have been a balancing period, but the Fed aborted this healing process by lowering interest rates, and encouraging cheap money. I have included a minus 5% growth for 2009, which would…

Lees het volledige artikel

1103E13A-950B-3225-BA41C9218B2E375F.jpg

US debt and growth bubble

This is a chart I made to illustrate that US GDP growth has been inflated by credit growth. It shows that the US was on an unsustainable growth path, fuelled by credit. 2000-2003 could have been a balancing period, but the Fed aborted this healing process by lowering interest rates, and encouraging cheap money. I have included a minus 5% growth for 2009, which would…

Lees het volledige artikel

De economische motor is opgeblazen

De groei in de VS bedroeg in de periode 1997-2007 ongeveer 3% per jaar. Maar dat groeiritme was gedopeerd. Het kon alleen maar worden bereikt met kredietstimuli, iets wat onhoudbaar is gebleken. Dat wil zeggen dat we nu een stap terugzetten. Als je het effect van de kredietbubbel uit de groei wegneemt, dan kom je op een groei die een halve procent lager ligt. Dat…

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  1. Geert NoelsGeert Noels said: RT @TimVermeir: Het voorgestelde wetboek goederenrecht van @Koen_Geens1 zet de deur wagenwijd open voor binnen- en buitenlandse investeerde…about 4 hours ago
  2. Geert NoelsGeert Noels said: @DenysJan Wie had het moeten vermijden? Het adagium “de problemen oplossen wanneer ze zich stellen” is het failliet van België.about 11 hours ago
  3. Geert NoelsGeert Noels said: Elke dag over carrières en vergoedingen van politici, met op de achtergrond geluiden over stroompannes, economisch… https://t.co/D8cTh3S081about 11 hours ago
  4. Geert NoelsGeert Noels said: @DusauchoitChris Supertrump.about 13 hours ago
  5. Geert NoelsGeert Noels said: @lindewin @tijd @peeters_kris1 Misschien niet met volle goesting maar met goede hoop.about 22 hours ago