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The euro zone needs a real depreciation in the periphery to achieve the restoration of growth, external balance and competitiveness,” economist Nouriel Roubini told CNBC at the Ambrosetti workshop in Italy. Here is the direct link.

John Taylor offers a cogent wake up plea to Americans and the Federal Reserve in today’s Wall Street Journal: “It is difficult to overstate the extraordinary nature of the recent interventions, even if you ignore actions during the 2008 panic, … Continue reading →

James Grant, Grant’s Interest Rate Observer, says U.S. policymakers are prolonging symptoms of the recession, adding that the Fed should learn from the 1920-21 Depression. Here is the direct link.