Americans are opening their wallets again.
Chinese credit growth slowed in October. New loans fell to 506 billion yuan, down from 787 billion yuan in September. Outstanding loans climbed 14.2%, down from 14.3%. M2, a broad measure of money supply climbed to 14.3% on the year, compared with 14.2% the previous month. And total social financing […]
A little bit better.
Debt has ballooned to 210% of GDP.
Another headwind is behind us.
How things have changed since 2007.
In his latest research note, Nomura Chief Economist Richard Koo – who pioneered the concept of “balance-sheet recession” – says he feels the need to respond to those who are saying that the age of private-sector deleveraging in the U.S. is over.
KKR recently published its outlook for the global economy and markets.
[credit provider=”Bloomberg Television” url=”http://www.bloomberg.com/video/gary-shilling-on-treasuries-u-s-economy-budget-gCjm2BfGRRupoBzWvO_h2Q.html”] The current domestic and global investing environment is dominated by deleveraging, according to Gary Shilling. In other words, households and institutions are slashing the debt on their balance sheets.
[credit provider=”Brian Jeffery Beggerly on Flickr” url=”http://www.flickr.com/photos/beggs/88809324/in/photostream/”] Over an early-morning coffee with the chief executive of an FTSE 100 business last week, talk turned to the outlook for 2013. Where I had expected some guarded optimism, instead I heard a chilling analysis.The CEO said he had been reading a new […]
Richard Koo, Chief Economist of Nomura Research Institute, has had a pretty simple and consistent thesis for years: private sector balance sheets are plagued by huge debt overhangs, and as they delever, the government must borrow and spend to prevent a deflationary spiral.
We’re in the middle of watching Gluskin-Sheff economist David Rosenberg present a gloomy outlook for the economy at The Big Picture conference. Much of his take is centered around the idea that we’re still ony part way through the end of the deleveraging cycle, and that we may be only […]
The defining economic phenomenon of The Great Recession and the miserable recovery has been deleveraging: The ongoing reduction of household debt relative to their wealth and income.
Hoisington Investment Management recently released its latest quarterly letter, penned by president Van Hoisington and economist Lacy Hunt.
[credit provider=”helga tawil souri on www.flickr.com” url=”http://www.flickr.com/photos/helgatawil/6071337237/”] 1. The frustrated and aggressive central bankIf one wants to know how bad the health of China’s economy has gone, look no further than the PBOC’s composure, which seems rather frustrated and aggressive as of late. On 5th July, the central bank cut […]