Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Actually, if you're doing it right (that is, tying a piece of string around the balls of your banks), you'll still be running moderate deficits during a boom.

You only really want to run surpluses when you have a foreign surplus (particularly when you suspect that it is caused by hot money) or a private sector credit expansion in excess of trend.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Dec 14th, 2011 at 11:15:46 AM EST
[ Parent ]

Others have rated this comment as follows:


Occasional Series