Wednesday, June 30, 2010

Anniversary Of Impossible Equation

Exactly one year ago I posted SocGen: Public Finances - The Impossible Equation. Dylan Grice, the global strategist at Societe Generale, writes today:

Stabilising government finances has nothing to do with economics and everything to do with politics, and politics is merely the art of the possible. A breakthrough akin to time-travel is needed if the required fiscal retrenchment is to be achieved painlessly.
However, this is the time for the next impossible equation, that I already touched upon on Monday, but Steve Waldman brings us to the options available. Corporate sector seems the right one to solve the issues of sectoral balances?

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