{"id":6135,"date":"2012-11-12T19:42:28","date_gmt":"2012-11-13T00:42:28","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6135"},"modified":"2012-11-12T19:42:28","modified_gmt":"2012-11-13T00:42:28","slug":"resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/12\/resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf\/","title":{"rendered":"Resolving The Crisis And Restoring Healthy Growth: Why Deleveraging Matters? &#124; David Lipton &#124; IMF"},"content":{"rendered":"<p>David Lipton, IMF First Deputy Managing Director writes that when G20 leaders met at the height of the GFC they had two simple objectives: i) to resolve the crisis; and ii) to make sure it did not happen again&#8230;&#8230;..<\/p>\n<blockquote style=\"background-color:#ccccff;\"><p>Progress has been hard in part because the measures called for under each agenda item to some extent undermine the other agenda item. The first objective, exiting the crisis requires strong enough demand to restore growth and jobs. At the same time, the second objective, ensuring sustainability and laying the foundation for a stronger global economy, requires deleveraging in many advanced economies, which will dampen demand, particularly if it happens simultaneously in many sectors in many countries.<\/p><\/blockquote>\n<p>Lipton points out that the actions of all major players impact on each other. He calls for deficit countries to continue fiscal consolidation and private sector deleveraging &#8220;in a sustainable way&#8221; and for &#8220;structural reforms to improve competitiveness&#8221;. Surplus countries also need to cut back on &#8220;reserve accumulation&#8221; and allow &#8220;more exchange rate flexibility&#8221;.<\/p>\n<p>via <a href=\"http:\/\/www.imf.org\/external\/np\/speeches\/2012\/111212b.htm\">Resolving The Crisis And Restoring Healthy Growth: Why Deleveraging Matters? by David Lipton, IMF First Deputy Managing Director<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>David Lipton, IMF First Deputy Managing Director writes that when G20 leaders met at the height of the GFC they had two simple objectives: i) to resolve the crisis; and ii) to make sure it did not happen again&#8230;&#8230;.. Progress has been hard in part because the measures called for under each agenda item to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/12\/resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Resolving The Crisis And Restoring Healthy Growth: Why Deleveraging Matters? &#124; David Lipton &#124; IMF&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[140,993,995,1565],"class_list":["post-6135","post","type-post","status-publish","format-standard","hentry","category-economy","tag-aggregate-demand","tag-deleveraging","tag-demand-shortfall","tag-global-financial-crisis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Resolving The Crisis And Restoring Healthy Growth: Why Deleveraging Matters? &#124; David Lipton &#124; IMF - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Resolving The Crisis And Restoring Healthy Growth: Why Deleveraging Matters? &#124; David Lipton &#124; IMF - the patient investor\" \/>\n<meta property=\"og:description\" content=\"David Lipton, IMF First Deputy Managing Director writes that when G20 leaders met at the height of the GFC they had two simple objectives: i) to resolve the crisis; and ii) to make sure it did not happen again&#8230;&#8230;.. Progress has been hard in part because the measures called for under each agenda item to &hellip; Continue reading &quot;Resolving The Crisis And Restoring Healthy Growth: Why Deleveraging Matters? &#124; David Lipton &#124; IMF&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/12\/resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-11-13T00:42:28+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/12\/resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/12\/resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Resolving The Crisis And Restoring Healthy Growth: Why Deleveraging Matters? &#124; David Lipton &#124; IMF\",\"datePublished\":\"2012-11-13T00:42:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/12\/resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf\/\"},\"wordCount\":202,\"commentCount\":1,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"keywords\":[\"aggregate demand\",\"deleveraging\",\"demand shortfall\",\"global financial crisis\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/12\/resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/12\/resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/12\/resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf\/\",\"name\":\"Resolving The Crisis And Restoring Healthy Growth: Why Deleveraging Matters? &#124; David Lipton &#124; IMF - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"datePublished\":\"2012-11-13T00:42:28+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/12\/resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/12\/resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/12\/resolving-the-crisis-and-restoring-healthy-growth-why-deleveraging-matters-david-lipton-imf\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Resolving The Crisis And Restoring Healthy Growth: Why Deleveraging Matters? &#124; David Lipton &#124; IMF\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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At 250 per cent of GDP, that debt burden is equivalent to almost US$120,000 for every American (Chart 1). .....backsliding on financial reform is not a solution to current problems.\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":871,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/20\/imf-survey-weak-and-bumpy-global-recovery-ahead\/","url_meta":{"origin":6135,"position":1},"title":"IMF Survey: Weak and Bumpy Global Recovery Ahead","author":"ColinTwiggs","date":"September 20, 2011","format":false,"excerpt":"The risks to the global economy are many, but three in particular demand strong action by policymakers: \u2022 In the euro area, banks must be made stronger, not only to avoid deleveraging and maintain growth, but also, and more importantly, to reduce risks of vicious feedback loops between low growth,\u2026","rel":"","context":"In &quot;Japan &amp; Korea&quot;","block_context":{"text":"Japan &amp; Korea","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/japan-korea\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6589,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/27\/financial-hangover-is-britains-biggest-growth-headache\/","url_meta":{"origin":6135,"position":2},"title":"Financial hangover is Britain&#039;s biggest growth headache","author":"Colin Twiggs","date":"January 27, 2013","format":false,"excerpt":"David smith writes: Sir Mervyn King, in Tuesday\u2019s final regional speech as Bank governor, in Belfast, barely mentioned fiscal policy as a factor in the slow recovery. Instead, as well as the high-inflation squeeze on real take-home pay and the eurozone, he focused on another financial factor.The problem, he said,\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1680,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/31\/nothings-changed-steve-keens-debtwatch-2009\/","url_meta":{"origin":6135,"position":3},"title":"Nothing&#8217;s changed &#8211; Steve Keen&#8217;s Debtwatch (2009)","author":"ColinTwiggs","date":"October 31, 2011","format":false,"excerpt":"In fact \u201cnormal\u201d for the last half century has been an unsustainable growth in debt, which has finally reached an apogee from which it will fall. As it falls\u2013by an unwillingness to lend by bankers and to borrow by businesses and households, by deliberate debt reductions, by default and bankruptcy\u2013aggregate\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2678,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/18\/debt-and-deleveraging-the-global-credit-bubble-and-its-economic-consequences-mckinsey-global-institute-financial-markets-mckinsey-company\/","url_meta":{"origin":6135,"position":4},"title":"Debt and deleveraging: The global credit bubble and its economic consequences | McKinsey Global Institute","author":"ColinTwiggs","date":"December 18, 2011","format":false,"excerpt":"Empirically, a long period of deleveraging nearly always follows a major financial crisis. Deleveraging episodes are painful, lasting six to seven years on average and reducing the ratio of debt to GDP by 25 percent. GDP typically contracts during the first several years and then recovers. via Debt and deleveraging:\u2026","rel":"","context":"In &quot;Debt Levels&quot;","block_context":{"text":"Debt Levels","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/debt-levels\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5715,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/08\/imf-coping-with-high-debt-and-sluggish-growth-video\/","url_meta":{"origin":6135,"position":5},"title":"IMF: Coping with high debt and sluggish growth [video]","author":"Colin Twiggs","date":"October 8, 2012","format":false,"excerpt":"The World Economic Outlook (WEO) presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups (classified by region, stage of development, etc.), and in many individual countries. 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