A k-wave downturn may be a factor in the global financial crisis. Other factors are American mortgage law, Chinese exports, and financial deregulation. Back in the downwave, 1 January 2012.
In the eurozone, average current account deficits between 1999 to 2007 are a better indicator of current problems than fiscal deficits or public debt. So external adjustment may be more important than fiscal austerity. “Debts and deficits, Europe”, in The 2008 Crash: Recovery. 7 December 2011.
The weakness of European banks was primarily driven by their exposure to falling US markets and the US dollar. The 2008 Crash: Causes. 18 July 2011.
In hard times, local currencies can be a way of supporting the local economy. “Protectionism”, in The search for a stable economy. 7 June 2011.
For financing long-term risk, a more stable banking system would rely more on equity and less on short-term debt. The Second Bagehot Lecture, in The 2008 Crash: Reregulation. 25 October 2010.
Stop the high house prices, inefficient taxes, and speculative fevers which have destabilised the entire global economy. Land tax, 8 July 2010.
Tags: Boom and bust, Economic cycles
