Simply the best

Fiz a besteira de deixar de ler o Marginal Revolution por uns dias. Olha só o que eu perdi:

- What is left for libertarians?
- The secret history of the minimum wage
- Ben Bernanke, economist. Parte preferida: "5. The global savings glut. Trade and budget deficits are enormous, so why aren't we collapsing? Why do real interest rates remain so low? Bernanke cited the possibility of a global savings glut; here is one explanation of the idea, here is another. The bottom line is this: some Asian countries have high levels of savings, but poor financial institutions. They invest their savings in the United States, and often we invest in back in Asia. In essence they are "outsourcing" their savings to foreign financial institutions. This recycling of Asian savings may help explain what is going on in the global economy. It also suggests that the current U.S. position is at least temporarily sustainable."

E muito mais. Sério, esse blog é simplesmente o melhor.