Monetary trends continue to suggest a slowdown in global industrial momentum in H2 2021, with a rising probability that weakness will be sustained into H1 2022 – contrary to the prior central view here that near-term cooling would represent a pause in a medium-term economic upswing.
"Even though bailouts mitigate the adverse effects of banking crises, we find that the economy is ex ante better off without bailouts: the ‘diabolic loop’ they create is too costly."
Fortunately, this state has not yet been reached."
The disruption of global supply chains has been a wakeup call for the European Union. For years, the principle of an open and free Single Market has led to a massive transfer of industrial production and outsourcing mainly to Asia.
''It's a machine that encourages hospitality; you want to make way more espressos than you can drink.''
“Never let the truth get in the way of a good story.”
"That’s how I started, I began at the top. And I have been working my way down ever since."