[lbo-talk] they don't make mega-bears like they used to

Julio Huato juliohuato at gmail.com
Tue Dec 30 07:51:13 PST 2008


Shane Taylor wrote:


> He [Roubini] also happens to be a student of balance
> of payment crises, which doesn't hurt given the US
> trade deficit. As Daniel Davies was saying, banks
> (shadow or otherwise) intermediate the current account.

Can you (or d^2) elaborate on this idea? What are the implications?



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