who reads the newspaper, sits in the middle of the crisis. One surprise here: the economic forecasters, according to 2010 is the recovery and between the crisis and the boom we had a just had measurable recession. At the same time are tied together in all countries billions of public programs, even developed countries can hardly ever pay. Switzerland is in it like an island in the storm. Unfortunately, not as a rock, but rather as a sand bank.
The U.S. consumer has been living on credit. Previously, the mechanisms of this somewhat opaque and pumps made it possible to maintain the illusion: Rising house prices have perpetual debt, along with the property as collateral. The associated with the mortgage credit creation by the banking sector was in the end of the current account deficit (China?) Funded. Today this is done much more directly: the state debt on the capital market and gives the money on to the consumer. So at least it's planned. Unfortunately, the government is increasing funding requirements now in other countries, because there want to protect all sectors before any the inevitable. At the end there is so much money and it must not - in the national interest - the printing presses hold out, like most global in two to three times per century financial crises occurring.
Chaos is now perfect. All run amok. Every economist has his own recipe and is contrary to all others. The politicians go - as always - the path of least resistance and make what is being demanded in the country (although this is changing every few weeks). In Switzerland, we ask ourselves whether the bank employees will receive their salaries or not, and this does not come after all to even more stupid ideas (unless we would not pay the salaries at the end).
Here's my recipe (thank the gods will this view also shared by some others): the banks' balance sheets have to be upgraded to prevent the banking crisis is permanent, as in Japan in the nineties. This is "Bad bank" only by outsourcing too risky "value" rules, that is. Everything else is pure and suicidal delay tactics. Unfair? Bert Brecht would have eaten it. Where possible insolvent banks should, of course, by the regulators and the Treasury will be restructured in a way that shareholders expect it empty. Here and there only going to pay the state. Not because it's so good, but because there are no more alternatives. On the other hand, could stimulus packages (ed) us in Europe, at least provisionally safely do without. Big Government there makes things worse. First, there are (as opposed to the 30's) employment insurance, to prevent a slide into a depression for sure, the second such intervention in the recession prevents much-needed restructuring within the private sector. Third, it protects all its export industry - at the expense of others. And fourth, we could all the * outrageous * and * cost * premature stimulus to the head because the looming national debt is so enormous that even the minimal rational companies will definitely adapt to uncomfortable times, and we end up despite unemployment and maintaining the infrastructure still in a jam.
Instead I read newspapers now prefer again Aeschylus, whose tragedies with a given scenario, while not particularly encouraging, but thanks to the barbarians of us can hardly ever be achieved literary content teach something about the people.
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