It's not the air. And it's not about slow growth or deflation despite what MSM may tell you. And it's not about inflation. There's plenty of that around. It's just not the kind these people want.
It's about currency debasing. The latest to join the crowd since Japan kicked off the party in April is Israel whose economy is "heavily dependent on exports, and a strong shekel weakens the competitiveness Israeli products abroad."
In the last few weeks several countries have lowed their interest rates. Competitive advantage is what economists call it. And that's the current worry-wart facing most of these countries.
The fear is the age-old one: Don't let the other guy get one up on you.
http://online.wsj.com/article/SB10001424127887324216004578481283977918230.html?KEYWORDS=banks+rush
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rle
Don't worry is a popular saying. Not too long ago it was a catch line of a popular song. Now Moody's the bond rating agency recently advised us all to stop the economic hand ringing: there's no bond bubble.
So we can all breathe a sigh of relief, here's a quote from the same agency that gave all those subprime mortgage beauties a triple A rating before the curtain got pulled.
"Recent concerns about a 'bubble' in corporate bond markets look overstated… Overall, drivers of demand and supply offer no strong evidence that recent issuance levels presage a damaging correction......"
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