The Two Steps still needed for World Recovery

Nikkei Veritas – Market Eye column, 26th February 2009 Two changes are needed before the world economy will recover. Banks must be refinanced so that they can afford to lend more, and demand must be stabilised. At the moment banks can’t expand their loans as...

Why Japan’s Economy Persistently Disappoints.

Nikkei Veritas – Market Eye column, 28th September 2008 Japan’s economy is disappointing the optimists yet again. The recent fall in GDP was treated as a surprise by much of the financial press. According to a Financial Times article of 14th August by Michiyo...

The Consequences of Ill-Judged Central Banking.

Nikkei Veritas – Market Eye column, 23rd April 2008 Alan Greenspan, who was then Chairman of the Federal Reserve, expressed concern about the stock market in 1996, which he thought showed signs of “irrational exuberance”. Unfortunately he then changed from...