Abstract:
Another chapter in the lost recovery?
Once more since the GFC of 2008, the world economy is being wracked by wild gyrations. On the one hand there is the sudden and massive leap in the value of the Swiss franc, a movement no longer able to be contained by authorities and that has had immediate effects, such as bankrupting of some hedge funds and investors. What other effects there will be remain to be seen, but it is a major shock to invest – ment markets. Another is the return to money printing on a grand scale by the European Central Bank, seeking to hold at bay forces that threaten to take euro-zone economies into reverse inflation or what is called deflation. The two events are closely linked and are signs of continued crisis.
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