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"Japanification"
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Although deflationary winds are a risk in the developed world, they have yet to become embedded in expectations.
PIMCO, Viewpoints, August 2012 , Scott A. Mather
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War and Peace: a tale of two economies
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Nominal and real return on assets classes for Japan and Switzerland over the past 100 years.
Investments Office , Ronald Weber
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Financing the Global Transition
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Interesting remarks on the current financial situation by the Governor of the Bank of Canada
Mark Carney, Governor of the Bank of Canada , 21 June 2012
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How heavenly is the German haven?
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Angela Merkel stated last week: “Germany is strong. Germany is the economic engine and the anchor of stability in Europe. (...) But Germany’s strength is not infinite”. We could not agree more with the latter part.
Lombard Odier, June 21, 2012 , Investment Strategy Group
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Hugh Hendry 2012 Letter and Views
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After two years of silence, Hugh Hendry is back and still at his best with a new investment and shareholder letter.
The Eclectica Fund, April 2012 , Hugh Hendry
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La Grèce Contemporaine
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Observations on Greece's Public finances from 1858. Some things never change!
Troisième Edition, Paris 1858 , Edmond About
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UK Public Debt as a percentage of GDP since 1692
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HM Treasury; Gregory Clark (2008), www.ukpublicspending.co.uk; Office of National Statistics; McKinsey Global Institute
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US Government Debt as a percentage of GDP since 1792
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www.usgovernmentdebt.us
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An American History Lesson for Europe
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You can draw your own conclusions and parallels with Europe today, and the U.S. Federal Government bailout of the States in 1789, and its refusal to do so again in the 1840s !
WSJ, February 3, 2012 , Thomas Sargent
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These PIIGS Went to Market
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For the two PIIGS still going to debt market (Italy and Spain, the others have been bailed out), where are we now? Debt auctions so far have largely gone just fine, with ample coverage and falling yields.
Fisher Investments MarketMinder , 03.02.2012
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