The recent nonsense issued by the US Treasury Secretary Janet Yellen on China’s ‘overcapacity’ and ‘unfair subsidies’ to its industries is particularly pathetic. As Renaud Bertrand put it: “t…| Michael Roberts Blog
Three scenarios: income structure reforms are the optimal path, investment stimulus is a necessary evil, and the perils of the investment curtailment must be avoided to mitigate deflation risks.| www.eastisread.com