Are economics bloggers a more gloomy bunch, or do they just lack the political constraints that force the smiles of policymakers?
Below is a word cloud of bloggers’ responses to the question: “How do you rate the assess the overall condition of the US economy right now?” posed in a quarterly survey by the Kauffman Foundation. The words ‘good’, ‘promising’ and ‘dynamic’ are present, but they are roughly the same size as ‘encrusted’ and ‘moribund’ – not, one imagines, popular choices in a free text field.
The Bank of Canada today released its semi-annual financial system review, finding that the Canadian financial system’s vulnerability to adverse shocks decreased modestly since its last report in June.
But the country – whose banks weathered the financial crisis without any infusion of government money – has not radically changed its conservative outlook. “Over the medium term, vulnerabilities associated with global financial and economic imbalances and household indebtedness will emerge as the most prominent risks to the Canadian financial system,” the report said. Read more