It's time for central banks to admit their failures
Wednesday, December 3, 2014, 8:08 PM
The world economy is slowing down and the authorities are fretting.
Japan, Italy, Greece and Austria are all in recession. China is slowing down according to their official statistics, and even more according to the whispers.
Germany, France and the Netherlands are all at stall speed.
The US is, according to the BLS, doing just great at nearly 4% growth, but you wouldn't know that from either the quality of the few jobs being created (which is low) or consumer spending (also low). » Read more