Richard Koo's Latest: "Europe And US Have Learned Nothing From Japan's Lessons And Will Repeat Its Mistakes"


Balance Sheet: The fact that these five figures do not sum to zero is an indication that some or all of the figures are not accurate.

But without these data it is impossible to determine the scale of the deleveraging process currently underway in the US Private Sector.

That is why I presented two measures of the “private sector” in the 13 July report: one defined as households plus the corporate sector, and the other defined as zero minus the sum of government and the rest of the world, drawing on...

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