Monday, October 06, 2014

16th Annual Geneva Report:
Low Rates For A Very Long Time
Financial Repression
The 16th annual Geneva Report by the International Centre for Monetary and Banking Studies & written by senior economists including 3 former senior central bankers, predicts interest rates across the world will have to stay low for a "very, very long" time to enable households, companies, & governments to service their debts and avoid another crash .. The report's authors expect interest rates to stay lower than market expectations because the rise in debt means that borrowers would be unable to withstand faster rate rises .. 
"Global debt-to-GDP is still growing, breaking new highs .. At the same time, in a poisonous combination, world growth and inflation are also lower than previously expected, also – though not only – as a legacy of the past crisis. Deleveraging and slower nominal growth are in many cases interacting in a vicious loop, with the latter making the deleveraging process harder and the former exacerbating the economic slowdown. Moreover, the global capacity to take on debt has been reduced through the combination of slower expansion in real output and lower inflation."
LINK HERE to Report PDF
link here to our prior related post
link here to a related article

1 comment:

Anonymous said...

Retired CUNY professor gets $560K a year pension

He’s New York’s pension king.

Retired Queens College history professor Edgar J. McManus, 90, gets a city pension of $561,286 a year, newly released figures show.

His payout is the highest by far in both the city and state teachers retirement systems, according to data obtained by the Empire Center for Public Policy, an Albany-based think tank.

The city Teachers Retirement System, or TRS, administers pensions for 80,300 members, mostly former employees of the Department of Education and some from CUNY.

The city’s second-biggest pension, $308,358, goes to Alvin Marty, a Baruch College economics professor who retired after 55 years in 2008.
McManus, who has written groundbreaking books on slavery, retired in February 2012 after teaching history and constitutional law for more than 50 years. His final salary was $116,364.

“They don’t pay you much when you’re working, but the pension is certainly good,” McManus told The Post. “Darn right I deserve it.”
http://nypost.com/2014/10/05/retired-cuny-professor-gets-500k-pension/