In comments made on April 10 prior to the International Monetary Fund’s spring meeting, Managing Director Christine Lagarde warned the “model of too-big-to-fail (TBTF) [banks] is more dangerous than ever” and that it “ultimately destabilizes the economy. We simply cannot have pre-crisis banking in a post-crisis world” (emphasis added). We agree with the dangers of the TBTF banking model, but suspect Lagarde’s description of a post-crisis world is a bit premature. Instead, we would describe today’s world not as “post crisis” but “pending crisis” in light of the events swirling around the globe. For example….
Click here to read the entire April 2013 Macro Pulse recap.
The Macro Pulse blog is a commentary about recent economic developments affecting the forest products industry. The monthly Macro Pulse newsletter summarizes the previous 30 days of commentary available on this website.