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Richard's Remarks

The world situation is as complicated as I’ve ever seen it. So saying, let’s try to make it simple. The world is in a state of deleveraging and deflation. Europe is close to recession. Germany, the engine of the European economy, is stalling. China, now arguably the world’s largest economy, is running out of gas. Brazil is slumping, as is Japan. The only economy in the world that appears to have a strong heartbeat is the US. The great fear today is that the world may sink into a downward spiral of deflation. The Central Bank of Europe would like to join the Fed in Quantitative Easing. But Germany, which is terrified of inflation, will not stand for QE.


Thus it falls on the Federal Reserve to save the world from the terror of deflation. Will the Fed shut down QE as it claims? Or will it reverse its schedule of ending QE by ... Log in or subscribe to continue reading.

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