Coincidentally, both the US Federal Reserve and the Bank of England yesterday signalled the probable end of the ‘the recession’ yesterday. But as the blog noted last month, statistics don’t tell the whole story. The issue is that economists usually define recession as simply being 2 or more quarters of negative growth. Automatically, therefore, any […]
Chemicals and the Economy
Central bankers recognise a ‘bubble’
For years, former US Fed Chairman Alan Greenspan said that it was impossible to recognise an ‘asset bubble’ until after it had burst. Thus the dot-com bubble, and the US housing bubble, were able to grow without central bank interference. Now however, Fed Governor Frederic Mishkin has broken ranks and provided this detailed description of […]
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