This is shaping up to be a busy week on this side of the Mooirivier and elsewhere things are happening as well. I have tracked down some reading for those of you keeping up with the events in the world economy:
- The Economist shows the slowdown / collapse of manufacturing in the Euro area.
- The ECB President Mario Draghi has said:
Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.
- And Martin Feldstein has a good post on the Do’s and Don’t for the ECB.
- In the US, the Fed today stopped short of new monetary stimulus and the disappointment amongst economists was great:
I vote for inept. Incoherent. Uncaring. RT @BetseyStevenson: The Fed's inaction is starting to feel political.—
Justin Wolfers (@JustinWolfers) August 01, 2012
Meanwhile there were good posts on the slowdown in China: