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Pojawił się wreszcie nowy wpis na blogu Satyajita Das'a. Rzadko pisze ale jak już to super spostrzeżenia. Nota bene jest niezłym wyjadaczem finansowym:

"The US central bank’s strategy is clear. The current credit problems require a substantial reduction in the level of borrowings and leverage in the global financial system. Asset prices ramped up by excessive debt need to adjust. The adjustment can take place via a “crash”. This would be de-stabilizing and would wreak further havoc on already weakened banks. Alternatively, the de-leveraging and price adjustment can be achieved by creating inflation through loose monetary policy. If asset prices remain at current levels, higher inflation allows values to fall in real terms. Higher inflation also reduces the value of the borrowings that must be paid back allowing the required reduction in leverage.

i dalej

Default risk concerns continue to inhibit lending and other routine financial transactions. Lower rates may set off further bubbles – for example, in equities and emerging markets.

Może jest wiec nadzieja i dla nas?

http://www.wilmott.com/blogs/satyajitda ... all-Street


Dla tych, którzy nie wiedzą koleś dokładnie opisał w lutym zeszłego roku mechanizm obecnego kryzysu kredytowego:
http://www.wilmott.com/blogs/satyajitda ... 7%29%2Epdf