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Christian Noyer: Sovereign Crisis, Risk Contagion and the Response of the Central Bank

June 17, 2010

Ladies and gentlemen, I am very much honored to open this second session of conferences in Paris and I would like to thank the Global Interdependence Centre for having Banque de France as a partner of this full week conference. I will give the point of view of a central banker on the recent events […]

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GIC Board Chair, William Dunkelberg – Small Business, Small Banks & Credit—Two Views

January 01, 1970

If you listen to Washington and New Yorkers working for bailed out institutions or in offices 100 floors above Wall Street, the recovery is weak because banks, and now small banks in particular, won’t lend money to small businesses. There has been plenty of evidence to the contrary (demand is weak rather than banks are […]

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Asset Bubbles and Systemic Risk

January 01, 1970

The past three years have dramatically underscored the interdependence of the world’s financial institutions and financial markets. The financial crisis also, by the way, increased awareness of the interdependence of the actions of monetary and fiscal authorities around the world. In light of the crisis and the reality of financial interdependence, the Federal Reserve expanded […]

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GIC Board Member, J. Paul Horne: The Independence and Regulatory Roles of the U.S. and European Central Banks Get a Fiery Political Trial

January 01, 1970

As the “Great Recession” recedes, the aftershocks of public anger are exploding with a political passion not seen since the Great Depression.. In this tumult, knives are out for the two leading central banks – the U.S. Federal Reserve (the Fed) and the European Central Bank (ECB), the agencies responsible for monetary policies underpinning the […]

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John Silvia, Chief Economist, Wells Fargo Securities – U.S. and Chinese Labor Markets: Interdependencies at Work

January 01, 1970

“He who asks a question is a fool for five minutes; he who does not ask a question is a fool forever.” –Chinese proverb

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William Dunkelberg – To Raise the Cost of Labor, What is Congress Thinking?

January 01, 1970

Congress has increased the cost of unskilled labor by 10.7% in the middle of the worst recession since the early 1980s. The unemployment rate is 9.5%. It is unclear how this is supposed to help the economy – unless you are Labor Secretary Solis or the Economic Policy Institute. The claim is that this will […]

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William C. Dunkelberg – “The Bigger the Bank, the Bigger the Eventual Collapse”

January 01, 1970

Larger, more concentrated banks would be a set-up for even larger financial disasters in the future.

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David Kotok – Today’s lunch with Jim Bullard

January 01, 1970

In a most forthright and clear Fed statement, St. Louis Fed president James Bullard spoke on Fed exit strategies at a Global Interdependence Center luncheon today at the Philly Fed. One can find the text of his slides and the videotape at www.stlouisfed.org.

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Paul Horne – International Aspects of the Financial-Economic Crisis

January 01, 1970

It is ironic that this week, 50 years after we graduated, GM goes into bankruptcy with the U.S. government taking control in exchange for $50 billion of our, taxpayers’, money. When we were in school, Charlie Wilson, Ike’s Secretary of Defense and former CEO of GM said: “What’s good for GM, is good for the […]

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William C. Dunkelberg – “Unintended Consequences: Protectionism Backfires”

January 01, 1970

The “Buy America” provision in the “stimulus” (haven’t seen much of the $787 billion yet) package is causing more and more trouble to U.S. firms that would like to participate, but have “hidden” imports in their products.

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John Silvia: The Evolution of the Economy, Credit & Economic Policy

January 01, 1970

After more than a year of recession and a decline greater than forty percent in some financial indices, are we making any progress to the upside? To identify progress we first identify where we are now in the economy. Second, we address the question of whether we have reached a bottom, and which indicators we […]

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Michael Drury Chief Economist, McVean Trading & Investments: Weekly Economic Update – GIC in Shanghai

January 01, 1970

Bottom line, for the next two year’s we expect China’s robust growth to be a solid underpinning to demand for commodities of all sorts, sustaining the growing global interest in them as an asset class.

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