The Developed #World is on the #Brink of a #Financial, #Economic, #Social and #Political Crisis | Developed economies are at a #crisis point, the #powers of unconventional monetary policy are #exhausted, and markets are just beginning to wake up to this. That’s the sobering assessment on the current state of the #global #economy delivered by #Donald_Amstad from Aberdeen Standard Investments | Aug 27, 2019
"It is the #West that is running #unorthodox_economic and monetary policy and it is the West, ironically, that is now on the #cliff_edge.”
In his view, the #emerging_markets have more levers to pull when compared to #developed_markets, where the #money_printing taps have been turned on and #interestrate settings are near #zero.
The irony is that during the Asian crisis it was the #IMF and #Central_Bankers from developed markets that convinced the emerging market #governments #not to printmoney and ‘take their medicine.’ Amstad says that this was a cathartic process for these economies, and they are now looking on in bewilderment as the West has resorts to money printing of an #unprecedented_scale.
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