Articles

steen jakobsen
, ,

Steen’s Chronicle: welcome back to the 1970s

In 1976, the author Astrid Lindgren of Pippi Longstockings fame incurred a 102% marginal tax rate by the Swedish Government, she countered by writing a satirical fairytale, "Pomperipossa in Monismania" - I think the title explains itself.…
steen jakobsen
,

Macro Digest: It's not Turkey, it's the debt cycle

There is currently a lot of focus on Turkey, and for good reason, but Turkey is really only a second or third derivative of the global macro story. Turkey represents the catalyst for a new theme, which is “too much debt and current account…
steen jakobsen
,

Macro Digest: Deficits matters again - revisit to 1980s ? CNY and JPY in focus - deficit vs. surplus

Part of the ”Chinese panic” is the rising current account deficit….   Conclusion: China needs weaker CNY- we see test and potential break of 7.0000 inside next one year JPY is a turning point – close to being our highest…