Friday, July 4, 2008

The Gnomes of Zurich

The Bank for International Settlements, the central bankers bank, has posted their annual report. Foiling all my expectations of gnome stylistic tendencies, the report is actually very directly and clearly written and remarkably sensible and without mercy with respect to its conclusions. I would particularly recommend the introduction and conclusion as probably the best overview of the state of the economic world I have seen to date.

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