Satyajit Das



Profile:
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Area of interest: Business, economic and financial affairs

Journals/Organisation: The Independent

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Website: http://www.independent.co.uk/biography/satyajit-das

Blog: EconoMonitor | Fear & Loathing in Financial Markets | TheDrum (ABC Australia) | Minyanville

Representation: Leading Speakers Bureau

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Biography:
About: The Sydney Morning Herald: Profile

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Career:

Current position/role: columnist


 * also writes/written for:

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Other activities: Speaker and author

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Books & Debate:
✒ Satyajit's page at Amazon ✒
 * Derivatives Library – Third Edition (2005, John Wiley & Sons) a 4 volume 4,200 page reference work for practitioners on derivatives
 * Credit Derivatives, CDOs and Structured Credit Products –Third Edition (2005, John Wiley & Sons)
 * Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives (2006, FT-Prentice Hall)
 * with Jade Novakovic: The Accidental Eco-Tourist (2006, New Holland)

Latest work: Extreme Money: The Masters of the Universe and the Cult of Risk, Pearson Financial Times/Prentice Hall, 2011

Speaking/Appearances:

Current debate: 

Journals:

 * no regular column



Articles: 2017

 * Governments are copying corporate financial tricks to fix their economic woes – with dangerous consequences - Financial engineering masks true performance and the real position of enterprises and nations, but its damage goes far deeper than that - 14th May
 * Government securities are causing a headache for investors – they aren't as safe as they once were - Risks are compounded by the fact that the entire global financial system is now underpinned by the use of government bonds as collateral to secure to financial transactions. The practice continues to be a central tenet of banking regulation, despite its role in compounding the 2008 crisis - 23rd April
 * Brexit and Donald Trump promised easy solutions to hard problems – but what happens when they don't deliver? - The French Revolution did not occur when conditions were harshest but when improving conditions created further expectation of progress and change. Today, the fragile middle classes in developed countries fear that their hard-won improvements in living standards are at risk - 27th March
 * Banks are getting bigger, not smaller. Clearly they learnt nothing from the 2008 financial crisis - In the US, since the crisis, the six largest US banks now control nearly 70 per cent of all the assets in the financial system - 12th March
 * Marine Le Pen has more of an appeal to left wing voters than pollsters would like to admit - In a contest against neoliberal Fillon and former investment banker Macron, traditional socialist voters may get behind the Front National leader - 27th February
 * The sharing economy creates a Dickensian world for workers – it masks a dark problem in the labour market - The sharing economy, opponents have argued, is creating a virtual ‘human cloud’ of digital serfs that leads to a global race to the bottom for wages and benefits - 13th February
 * You don’t just pay for Uber when you use one, your taxes subsidise the service too - Services like Uber reduce the value of existing investments, and infrastructure like traditional taxi licenses, meaning that the sharing economy is effectively subsidised by taxpayers - 6th February
 * Deluded Republicans are accidentally pushing for progressive corporation tax reform - The reform being presented by deluded right-wing American politicians as a way of sticking it to cheating foreigners actually represents the world’s best chance for lancing the boil of rampant tax evasion by multinational companies - 6th February
 * The only reason the global elite goes to Davos is to stave off loneliness and massage egos - For some, the meeting is an antidote to the insecurity or loneliness of leadership. For this group, Davos is like AA providing the opportunity of advice and counsel from equals. FT columnist Gillian Tett once quipped that it was ‘a self-help group for the global elite’ - 22nd January



Articles: 2016

 * The new technological revolution encourages subtle exploitation – don't believe the hype about 'innovation' - Innovation is not necessarily associated with strong economic growth and innovative economies are not always the most successful. Stories abound of coders living eight to a single bedroom or in a shipping container to work in their dream job - 4th December
 * Technophobes can relax – there’s no such thing as the fourth industrial revolution - One model estimates that 85 per cent of the economic limit of technology has been reached, projected to reach 95 per cent by 2038 - 28th November
 * Technology is exacerbating unemployment and wage stagnation – and it's set to only get worse - The population must now confront a sharp decline in living standards, driven by globalisation, technology and changes in the structure of the work force - 20th November
 * you’re wrong to think that your house will finance your retirement'' - Treating houses as a financial instrument leads to an undiversified investment portfolio, with a large proportion of wealth concentrated in a single asset - 13th November
 * Why Google, Facebook and Uber aren't contributing to long-term innovation - Public money funnelled through the Pentagon helped develop the internet. A National Science Foundation grant seeded development of Google’s algorithmic search engine - 6th November
 * Trump's experience in business means nothing in the presidential race - Political leaders must manage for the entire population rather than the narrow interest of investors. They must take into account the effect of decisions on a wide range of constituencies including many implacably opposed to their positions - 24th October
 * Until Australia solves its contradictory attitude toward Asia, it will continue to be regarded as an economic opportunist - Australians are regarded as ‘carpetbaggers’, people who want to ally themselves with a region with which they have no real connection in order to gain economically - 12th September
 * Currency wars are nothing new – but who will be the casualty of the next? - In foreign exchange wars as in military versions, there are no winners. A weaker dollar means that the rest of the world loses - 4th September
 * Policymakers have chosen to ignore the central issue of debt as they try to resuscitate activity - The global economy may now be trapped in a QE-forever cycle - 2nd August
 * The contagion of bank stress could push us into another global financial crisis - Banks are networked both domestically and internationally through inter-bank borrowing and lending and derivative transactions. Problems at one bank can quickly spread, infecting other firms and the financial system - 31st July
 * The world's economic crises are entering a political stage – and the results could be dangerous - Historians found that the destruction of the middle classes was crucial to the rise of fascism, communism and militarism after the Great Depression. We must not allow history to repeat itself - 24th July
 * The world is facing an economic crisis but our experts are talking to the fairies - From Europe to China, economic measures to boost growth are failing – but the Bank of Japan is searching for answers between the pages of the children's fantasy 'Peter Pan' - 19th July
 * Three ways our financial masters keep letting us down - Policy makers accepted the responsibility for restoring the health of the global economy, but their efforts have been only partially effective – they have been unable to deliver the required miracles - 9th July
 * Brexit has exposed how ignorant the educated and cosmopolitan have become about modern Britain - The gravitational pull of aspiration, central to Margaret Thatcher and Ronald Reagan’s brand of conservatism, has faded as trickle-down economics betrayed so many people - 3rd July
 * Why Italy’s economy is about to collapse - A contracted economy, inadequate banking systems, engorged public sector and festering corruption mean that Italy is facing a troubled future - 20th June
 * Labour unrest in France needs to be defeated if the country is to avoid its impending financial crisis - Self-obsessed with its past glories France appears incapable of recognising its decline - 12th June
 * If a Eurozone financial crisis is to be avoided, Italy and France need structural reforms - and quickly - In both Italy and France, the priority is to defend the already protected at the expense of the rising number of excluded - 5th June
 * France and Italy could be the next European economies to crash - Denied the option of devaluation, both countries have relied on debt-funded public spending to maintain economic activity and living standards. The people and their representatives refuse to face reality - 29th May
 * The global economy is no Lazarus – the outlook is bleak - Any new crisis is likely to be a further phase of the 2008 crisis, reflecting the fact that the causes remain largely unresolved. A future downturn will be much worse this time around - 23rd May
 * This is how the next financial crisis will spread around the world economy - Losses will be directed to insurance companies, pension funds and private investors – bailing them out may prove to be politically necessary - 16th May
 * Why we should all be worried about the global economy - Since 2007, global debt has grown by US$57 trillion and it's had disastrous results - 1st May
 * The catastrophically high pricing of assets suggests we’re heading for another financial crisis - As in the lead-up to the dot.com crash, investors chasing revenue and earnings growth have pushed up sectors such as technology. More than 80 per cent of new IPOs are for companies with no earnings - 25th April
 * As we enter a post-antibiotic era, the threat of a pandemic is rising – and even the West has failed to prepare - Drug resistant infections will cause 10 million deaths a year worldwide by 2050, more than cancer. The world is poorly prepared to deal with a serious outbreak - 17th April
 * The high cost of war is damaging the global economy. Economic stability demands that we find peace - From the financial and humanitarian cost of supporting millions of Syrian refugees to the interruption of trade links with China and Russia, political conflict is bad for the world's economy. Here's why - 11th April
 * How the cost of Ebola damaged the entire African economy - Das Capital: Travel bookings to African nations thousands of kilometres from the outbreak fell by up to 70 per cent, and the nations hardest hit will take decades to rebuild - 3rd April
 * The current vogue for share buybacks could lead to trouble in the future - Das Capital: Corporations are currently engaged in auto-cannibalism. They are buying back their own shares or returning capital to shareholders, providing crucial impetus to the tripling of US stock prices - 8th March
 * A record year for corporate mergers and acquisitions is nothing to celebrate - Das Capital: The vast majority of mergers will prove expensive: cost reductions will be difficult, synergies elusive - 24th February
 * Europe has dug itself into a hole – and it just can’t stop digging - Das Capital: There are only unpalatable choices. Minor concessions will not solve the problem - 17th February
 * Double trouble: trying to match the markets with the global economy - Das Capital : Confident in their ability to juggle grenades, analysts are trying to pick bottoms in weak emerging markets - 9th February
 * Emergency treatment continues but the global economy is still on life-support - Das Capital: No one believes China is growing at 6 to 7%. Official growth does not reconcile with underlying statistics - 2nd February
 * Look what happened when the Fed raised rates in 1936... - Das Capital: With the economy already in recession, the move contributed to the Great Depression - 19th January
 * Remember that in China conservatism persistently triumphs over reform - Das Capital: Reforms that reduce the power and control of the Communist Party are likely to meet opposition - 7th January



Articles: 2015

 * Mario Draghi is feeding European delusions about a recovery - Das Capital: The ECB’s latest actions point to its failure to restore growth or raise inflation - 16th December
 * China will be struggling again to walk the talk on economic reform - Das Capital: Country's ability to reform is overstated by Westerners - 9th December
 * Commodity market problems are symptoms of underlying issues - Das Capital: The cause of the financial crisis – unsustainable debt – has not been addressed - 13th October
 * The Greeks can’t live without the euro and they can’t live with it - Das Capital: The Greeks gave up their trump card even before the negotiations commenced - 9th October
 * President Xi had too much riding on China’s stock market boom - The stock market falls raise the risk of significant problems within the financial system - 28th August
 * There may be no sudden fallout from China’s crash – but give it time - Chinese households may increase already high savings rates, slowing growth - 18th August
 * China's stock market rise was doomed to spiral out of control - Das Capital: The A-share bubble was engineered to compensate for growing economic problems - 5th August
 * Debt - the elephant in the room that the world can't deal with - Das Capital: Since 2007, the total debt of the big economies has increased, not decreased - 1st August
 * 'Financial repression' benefits governments but hurts people - Das Capital: Higher tax rates will be accompanied by subtler measures - 25th July
 * Central banks are singing from different song sheets - Das Capital: Since 2009, all asset prices have been affected by the central banks’ attempted reflation through  a massive injection of liquidity  - 23rd June
 * China's rebalancing act will require major reform of the banking system - Das Capital: China has committed to removing controls on capital flows, but the risk of deregulation is significant - 9th June
 * The uncomfortable permanence of these temporary measures - Das Capital: In may be that low interest rates and QE cannot be reversed easily, if at all - 29th May
 * Low rates have caused the crisis – they are not the solution to it - Das Capital: Central bank policies have stabilised conditions but not restored growth or created sufficient inflation to address the world’s debt problems - 19th May
 * Central banks need to talk a lot less and act a lot more - Das Capital: European central bankers lead the world in policy linguistics - 12th May
 * The slump in oil prices is fuelling financial instability globally - Das Capital: Revenues have reduced sharply, making it difficult to service debt - 31st March
 * Greece has plenty of options. It's just that none of them are good - Das Capital: A Grexit without contagion? It's like Dr Strangelove's belief in survivable nuclear war - 12th March
 * Greece's fundamental problem, lack of income, hasn't changed - Das Capital: Greece’s problems have been resolved for somewhere between a few days and four months, with the parties having agreed to possibly agree to a tentative four-month extension of Greece’s existing bailout programme – but only if certain conditions are met - 4th March
 * The Swiss have done for central banking what Ferguson has done for policing - Das Capital: The decision of the Swiss National Bank to abandon a fixed value for the Swiss franc against the euro – and its after-effects – foreshadow the potential extreme consequences of the end or failure of central bank activism - 24th February
 * Switzerland had to bite the bullet and drop franc ceiling - Das Capital: In reality, the policy was unsustainable in the light of rising currency inflows - 17th February
 * For the Saudis, low oil prices are a means of exacting revenge - Das Capital: Up to 80 per cent of shale reserves are uneconomic at prices below $80 a barrel - 28th January
 * We need economic risk-taking, not financial risk-taking - Das Capital: Few of the problems that led to the great recession of 2008 have been resolved - 21st January



Articles: 2014

 * Philanthropy is not just charity from the rich: it’s self-serving - Donors are free to channel funds to their chosen causes, some noble, some hubristic and some just plain odd - 16th December
 * With rates at or near zero, central banks are having a hard time firing up their economies - Das Capital: The strategy relies on the wealth effect which central bankers hope will lead to higher consumption - 2nd December
 * Economies are not in trouble because of debt, but of growth - Das Capital - 17th November
 * America is like Ali doing the rope-a-dope – but can it last? - Das Capital: On 30 October 1974, Muhammad Ali, the former Champion of the World, fought the incumbent George Foreman for the Heavyweight Boxing Championship - 4th November
 * Of all its weapons, willingness to change is America’s strength - Many of America’s economic competitors find it difficult to embrace change - 21st October
 * America’s economy is so strong, it can afford its splendid isolationism - Das Capital - 14th October
 * Mario Draghi may as well roll the dice – we’ve tried everything else - Das Capital: It is unlikely the policies will result in an immediate return to the required levels of growth - 28th August
 * The ECB’s ‘policy fireworks’ won’t have anyone turning cartwheels - Das Capital: The measures will support markets but they are unlikely to restore economic activity - 19th August
 * India’s new rulers won a mandate for change. That was the easy part - Das Capital: Narendra Modi could join an illustrious line of political leaders who do not live up to their promise - 12th August
 * India’s new saviour will need to pray for some miracles - Das Capital: Narendra Modi will find governing India is more difficult than winning power - 8th July
 * The West's reward is still the riches that developing nations 'don't value' - Das Capital: For emerging nations to rise out of poverty always entailed a risky, uncertain and tragic future - 4th July
 * When the machines are insider traders, will they be prosecuted? - Das Capital: Making mountains out of molehills sells more books than a study of molehills - 27th June
 * The West wrings its hands over Asian workers, but carries on robbing them - Das Capital: In April 2013, the Rana Plaza, an eight-storey complex of clothing factories near Dhaka, Bangladesh, collapsed, killing more than 1,100. With its garments intended for export, the Rana Plaza incident quickly became “framed” from a Western perspective - 10th June
 * Modi needs miracle to meet investor hopes - India’s new government has limited room for economic manoeuvre - 27th May
 * This is not a credit bubble, we are told. But it certainly looks like one - Das Capital: Even volumes of the notorious collateralised debt obligations have almost recovered to 2007 levels - 13th May
 * What's in store for China's economy - catastrophic crash or soft landing? - Das Capital: Pessimists worry about a catastrophic crash in China. Optimists are more sanguine, expecting a soft landing with gradual reforms correcting the systemic issues - 7th May
 * Attempts to rein in China’s shadow banking system are doomed to fail - Das Capital: Economic, financial and structural reform is badly needed – but such reform is politically unpalatable - 8th April
 * Growth of China’s shadow banking sector casts light on fault in system - Das Capital: Beijing’s attempts to rein in runaway credit expansion has also perversely encouraged growth in the sector - 1st April
 * Chasing the debt dragon – China finds the credit habit hard to kick - Das Capital: China has had a 35-year addiction to cheap credit. The 2007/2008 global financial crisis and the resulting rare synchronous recessions in the developed world exposed China’s economy, especially its export sectors, to a large external demand shock – slowing growth - 25th March
 * Forget these financial forums: global co-ordination is a utopian dream - After the Sydney meeting, it did not take long for the feigned unanimity among G20 members to disappear - 18th March
 * The G20's Lords of Finance will magically conjure up growth. Really? - Das Capital: Crucially, the G20 failed to confront the fragility of many emerging markets - 14th March
 * Quest to trigger inflation has failed - Boost in money supply to create inflation offset by other factors - 6th March
 * Policies that boosted banks’ earnings also disguised their vulnerabilities - Bank investors are substituting, in the words of Shaw, the ‘obsolete fictitious for the contemporary real’ - 4th March
 * Political repression is generating a dangerously high democracy deficit - Das Capital: To avoid scrutiny, leaders have moved important decisions into opaque European Union forums - 25th February 2014
 * German court's ruling could trigger a legal crisis in the eurozone - Das Capital: The court's decision may restrict the ability of the ECB to act - 18th February
 * Trust is in short supply between developed and emerging countries - Das Capital: The devaluation of the US dollar has driven up the price of commodities - 11th February
 * Reviled and mistrusted, money and banks are losing legitimacy - Das Capital: Trust in banks wanes as savers find other ways to protect their money. The ultra-rich are switching to real assets- gold, commodities and farm land - 4th February
 * Trust in banks wanes as savers find other ways to protect their money - The ultra-rich are switching to real assets – gold, commodities, farm land - 4th February
 * Australia’s Asian tilt a mere wish list - The strategy is undermined by political, defence and economic factors - 21st January
 * Markets run into fog of forward guidance - Central bank communication policy reveals lack of options - 14th January
 * Ditching expansionist policies is like trying to escape from Hotel California - Das Capital: It's like listening to Monty Python's mortally wounded Black Knight - 14th January
 * The financial markets still bear little relationship to the real economy - Das Capital: Politicians everywhere have proved reluctant to tackle much-needed reforms - 7th January



Articles: 2013

 * Each stage of the eurozone debt crisis has increased the risks Germany faces - The German-led strategy shows little progress and is unlikely to resolve the crisis - 17th December
 * Beware, Ms Merkel, Germany’s economy is not as strong as it seems - Das Capital: ‘The Economist’ called the grand agreement a recipe for “die grosse Stagnation” - 10th December
 * Zombie banks are just one of the problems the eurozone still faces - Das Capital: European governments are resorting to tricks to resolve their banking problems - 19th November
 * The weakness of the European Central Bank’s policies will be revealed all too soon - Economic View: An IMF member thinks Greece’s forecasts for its debt and economic growth are ‘delusional’ - 12th November
 * Europe’s debt disease is in remission – it’s not cured - Economic Outlook: Growth will not be strong enough to reduce unemployment or improve solvency - 5th November
 * Debt crisis has left Germany vulnerable - Weakness in the periphery will affect German economic prospects - 5th November
 * Fears grow of history repeating itself with a crisis in emerging markets - In the 1994 ‘Great Bond Massacre’, holders of US Treasury Bonds suffered losses of around $600bn - 15th October
 * Europe's Debt Crisis Will Return - Everyone had been waiting for the German elections. Now that they are over, attention will turn to key decisions on the European Debt problems. Hopes of any decisive actions are misplaced - 1st October
 * Tide is turning and emerging economies risk falling like a Bric - Economics View: Multiple Latin debt crises and the Asian emerging markets crisis of 1997-98 have been forgotten. To paraphrase Robert Louis Stevenson, financial markets have “a grand memory for forgetting” - 24th September
 * After the Ashes, Australia finds itself on a sticky economic wicket - Economics View: Despite recent falls, the ability to devalue the Australian dollar remains limited - 17th September
 * Japan's tactics look too aggressive and doomed to fail - Economic View: Prime Minister Abe's wider agenda is turning out to have global implications - 13th September
 * Post-crisis policies promise stagnation - Public and private debt in major economies has risen, not fallen -12th September
 * Shinzo Abe’s ‘three arrows’ will fall short of the target once again - Economics View: Many ‘reforms’ are vague... the ideas are old and have been tried before, unsuccessfully - 3rd September
 * Eurozone heading for a debt crisis relapse - Weaknesses will be exposed as markets test ECB policy - 29th August
 * Nations need to abandon old ties to succeed in the new Great Game - Midweek View: The UK faces challenges in this environment. Its excellence in manufacturing and industries has declined - 6th August
 * China sets out on long march back to self-reliance as trade gets rough -Midweek View: The country has become increasingly resentful about the destruction of the value of its savings - 31st July
 * Europe looks within for roots of renewal - The need for greater integration to deal with its debt problems may be the catalyst for the shift to autarchy - 23rd July
 * Why America is winning the modern Great Game - The US borrows in its own currency, benefiting from a ready market for its securities, both at home and abroad - 16th July
 * China must not follow Japanese path of growth and stagnation - Midweek View: Recent Chinese growth has been driven by a rapid expension of credit which has driven an investment boom - 12th June
 * Japan's 20 years of struggle hold a warning to other economies - Midweek View: The state can provide palliative care in a crisis but it may have limited ability to restore financial health - 5th June
 * Alchemists at the courts of rulers foster illusion of perpetual growth - Midweek View: It is not clear how, if at all, printing money or financial games can create real ongoing growth and wealth - 15th May
 * For growth to be sustainable, we must accept lower living standards - Midweek View: The economist Robert Gordon argues that the IT revolution created only a short-lived advance in productivity - 8th May
 * High economic growth could be over – and it may have benefits - Midweek View: Growth was based on policies that led to the unsustainable degradation of the environment - 1st May
 * Why relying on devaluation to attain prosperity is a flawed policy - Midweek View: Currency conflicts are merely skirmishes in the broader economic wars between nations and a shift to isolationism - 24th April
 * Are we all missing out on a new golden opportunity? - Economic View: Politicians and policy makers are unlikely to willingly cede the power that a paper money system gives them - 4th April
 * Cyprus - a faraway country, but more important than you realise - Midweek View: Politically expedient accusations of money laundering and tax evasion in Cyprus are hypocritical - 3rd April
 * Is this the return of a golden age... or are we all just running scared? - Midweek View: An investment made in bullion in the 15th century would have lost 90 per cent of its value over the next 500 years - 29th March
 * Adjust your expectations - investing in the new era of low rates and high volatility - Economic View: Success is always 10 per cent skill and 90 per cent luck, but it is still unwise to try it without the quotient of skill - 21st March
 * Effects of bailout will be felt far beyond Cyprus - Economic View: After Cyprus, it will be politically more difficult for countries to ask for EU and ECB assistance - 19th March
 * Investors might think happy days are here, but the risks still remain - Midweek View: Buying Greek bonds and doubling your money was a surreal bet on a nation that is economically dead - 13th March
 * Over-rated - court case will not fix core problem with ratings agencies - Midweek View: The fact that the issuer, not the investor, pays for the rating means the central conflict of interest is unresolved - 27th February
 * Europe's stealth integration will exact a heavy toll on Germany - Midweek View: The increase in commitments or debt levels will absorb German savings, crippling the economy - 13th February
 * does not have the funds to solve sovereign debt crisis'' - Midweek View: The Lisbon treaty prohibits the European Central Bank from directly buying national governments' debt - 6th February
 * Japan's coming debt crisis as an ageing population eyes retirement - Midweek View: Shinzo Abe's policies will provide a short-term lift in economic activity, but are unlikely to create a sustainable recovery - 30th January
 * Why slow growth is not troubling equities - Investment View: Cost-cutting, productivity improvements and restructuring cannot be repeated endlessly - 11th January



Articles: 2012

 * Fiscal cliff not big enough to solve US debt problem - Stateside View: What is needed is a review of all spending to better target it and align it with tax revenues - 23rd November
 * No easy solution as America sinks ever deeper into the debt mire - The United States is not only not saving nuts, it's eating the ones left over from the last winter - 31st October
 * World weighed down by debt won't grow - 25th October
 * So how long can the US hold the world to ransom with the dollar? - Midweek View: Keynes warned: ‘Owe your banker £1,000 and you are at his mercy; owe him £1m and the position is reversed’ - 24th October
 * World economy is addicted to credit and the markets seem oblivious - Midweek View: A debt write-off would result in a significant loss of wealth for lenders and trigger an economic contraction - 18th October
 * Economies may be sick, but will the cure be worse than the illness? - Midweek View: Governments can no more control money than a gardener can control a hosepipe by grabbing the water - 10th October
 * A tricky path to tread if the Libor fix is to be fixed - Weekend view: Given the importance in money markets of Libor, responsibilities for oversight are remarkably unclear - 10th September
 * Libor warning signs were there, but no one acted - The definitions do not allow for consideration of derivatives trader' positions - 24th July
 * Saved for now – but eurozone's chronic disease will re-emerge - Midweek View: Germany's willingness to continue financing the existence of the eurozone cannot be taken for granted - 11th July
 * Germany might not be strong enough to save euro strugglers - Midweek view: The faith of Europe, America and the rest of the world in Germany's ability to come to the rescue is misplaced - 20th June
 * It's wide of the mark to see this rescue as a victory - The bailout does not address many issues - 12th June
 * Problems galore put the brakes on India's economic potential - Economic Outlook: Successive governments of every... persuasion have failed to undertake meaningful reforms - 8th June
 * There is a misplaced reliance on the European Central Bank - Voters in Greece and France have voted against austerity. Voters elsewhere in Europe will probably follow suit in time. Despite summits and communiqués, politicians and policy makers cannot miraculously create growth overnight - 22nd May
 * Tight rules would not have stopped JPMorgan losses - Midweek View: The most important question is whether any action short of banning specific activities can prevent such episodes - 16th May
 * We tell ourselves low rates are good for us, but in truth we are addicted - Midweek View: The ability of low rates to boost real economic activity is unclear. The cost of funds is only one factor - 25th April
 * Low consumption is the flaw in China's economy - Midweek View: While China's rise is important its ability to support the global economic and financial system is overestimated - 18th April
 * China can't rescue the world because its recent growth is largely illusion - Midweek View: Alarge portion of China consists of 'survivors' whose incomes allow them to buy only basic foods and necessities - 11th April
 * China's credit-fired return to growth was no miracle and it won't last - Midweek View: China's rapid increase in credit to restart growth has created asset bubbles in property and shares which are now unwinding - 4th April
 * Goldman Sach’s flawed model - The very public and sensational “exit” interview in the opinion pages of the New York Times by the former Goldman Sachs executive director Greg Smith is more than an expose of the alleged practices of his former employer - 17th March
 * They are all at it – but side effects of QE may turn out to be highly toxic - Midweek View: Inflation cuts the value of debt. It also induces consumer spending, as people accelerate purchases - 29th February
 * Athens sub-plots give pointers to future for weaker European nations - Midweek View: With Greece increasingly doomed, no one buys the oft-stated European leaders' view its position is unique or exceptional - 22nd February
 * The impossible puzzle: how to reduce debt without growth - Economic Outlook: Greece may be only the first carriage of the Sovereign Debt Express to go off the tracks - 6th February
 * Low rates: the drug we can all do without - low interest rates, like all addictions, is dangerous. It is also ineffective in addressing the real economic issues - 1st February 2012

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