Jackson Hole, Wyo. - Achieving Maximum Long-Run Growth

Dani Rodrick

Esther Duflo

Sthepen Cecchetti

Barry Eichengreen

Christine Lagarde

Source: Federal Reserve Bank of Kansas City

History rarely repeats itself, it often rhymes

"At some point the boom became a bubble. Everyone from high-flying banks to ordinary consumer leverage themselves to the hilt, betting on the dubious yet curiously compelling belief that prices could only go up. Most economists blessed this state of affairs, counseling that the market was always right; it was best not to interfere. The handful of dissidents who warned of a coming crash found themselves mocked if not ignored."

La piel que habito

En relación a su largometraje número 18, Amodóvar comentó:

"[...] Su personaje es un psicópata, el psicópata por definición está incapacitado para ponerse en el lugar del otro, por eso es capaz de las mayores atrocidades, porque no tiene conciencia del dolor. No sabe lo que es. Y para expresar esa incapacidad, lo mejor era vaciar el rostro de todo tipo de emoción, por mínima que fuera. Antonio no debía mostrar el menor sentimiento. Hasta que se enamora de Elena. El amor lo humaniza."

Fuente: El País

A new rabbit?

According to Nouriel Roubini:

"The massive volatility and sharp equity-price correction now hitting global financial markets signal that most advanced economies are on the brink of a double-dip recession. A financial and economic crisis caused by too much private-sector debt and leverage led to a massive re-leveraging of the public sector in order to prevent Great Depression 2.0. But the subsequent recovery has been anemic and sub-par in most advanced economies given painful deleveraging."

[...] "Over time, advanced economies will need to invest in human capital, skills and social safety nets to increase productivity and enable workers to compete, be flexible and thrive in a globalized economy. The alternative is – like in the 1930s - unending stagnation, depression, currency and trade wars, capital controls, financial crisis, sovereign insolvencies, and massive social and political instability."

Border Walls

"In the first decade of the new millennium, despite predictions of an increasingly borderless world through the process of globalization, the United States, Israel, and India have built a combined total of 5700 kilometers of fences and security barriers on their political borders. For comparison, if strung together these fences would stretch all the way from New York to Los Angeles, with enough left over to build another fence from Frankfurt to Istanbul."

Source: Zed Books

Reed Jones

A wakeup call

Greg Mankiw on Current Volatility and FED rol