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"Money and Confidence": M* article by Andrew Foster of Seafarer Capital Partners

From article: "Balance sheet solvency [the raw stuff of financial confidence] must be addressed in tandem with monetary policy in order to achieve financial and economic stability."
Some interesting comparisons of eurozone troubles with China's and Japan's.
Andrew Foster is former CIO of Matthews Asia funds.


  • Thanks for this article IE...I like the quote:

    " was the lifeblood of markets, and confidence was the heart that pumps it."

    Since Japan is much further along in this confidence / lack of confidence process...I wonder what investment strategies did work over their lost decade(s) for the Japanese investor?
  • edited December 2011
    "It may be imperative that an insolvent household cut costs; however, applying the same approach to an insolvent government (i.e., austerity) may worsen an already weak economy."

    "Austerity is no panacea, and if pursued blindly, it may derail already weak economies."

    "when large numbers are unemployed and growth is shaky, it makes little sense to me to further cut government expenditures."
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