{"id":7675,"date":"2013-05-04T06:07:26","date_gmt":"2013-05-04T10:07:26","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=7675"},"modified":"2013-05-04T06:07:26","modified_gmt":"2013-05-04T10:07:26","slug":"joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\/","title":{"rendered":"Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog"},"content":{"rendered":"

Joseph Stiglitz writes:<\/p>\n

\n

This might seem obvious. But a focus on the provision of credit has neither been at the center of policy discourse nor of the standard macro-models. We have to shift our focus from money to credit. In any balance sheet, the two sides are usually going to be very highly correlated. But that is not always the case, particularly in the context of large economic perturbations. In these, we ought to be focusing on credit.<\/p>\n<\/blockquote>\n

This approach should be obvious to bankers who stand astride the two sides of their balance sheet: loan assets (credit) and deposit liabilities (money). Deposit liabilities may at times grow faster than loan assets but not vice versa<\/em>.<\/p>\n

Read more at The Lessons of the North Atlantic Crisis for Economic Theory and Policy | iMFdirect – The IMF Blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Joseph Stiglitz writes: This might seem obvious. But a focus on the provision of credit has neither been at the center of policy discourse nor of the standard macro-models. We have to shift our focus from money to credit. In any balance sheet, the two sides are usually going to be very highly correlated. But … <\/p>\n

Continue reading “Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog”<\/span><\/a><\/p>\n","protected":false},"author":2,"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":[45],"tags":[867,2356],"class_list":["post-7675","post","type-post","status-publish","format-standard","hentry","category-debt-levels","tag-credit","tag-money-supply"],"yoast_head":"\nJoseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog - 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=\"Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Joseph Stiglitz writes: This might seem obvious. But a focus on the provision of credit has neither been at the center of policy discourse nor of the standard macro-models. We have to shift our focus from money to credit. In any balance sheet, the two sides are usually going to be very highly correlated. But … Continue reading "Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\/\" \/>\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:published_time\" content=\"2013-05-04T10:07:26+00:00\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\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\\\/2013\\\/05\\\/04\\\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/05\\\/04\\\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\\\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog\",\"datePublished\":\"2013-05-04T10:07:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/05\\\/04\\\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\\\/\"},\"wordCount\":151,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"keywords\":[\"Credit\",\"money supply\"],\"articleSection\":[\"Debt Levels\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/05\\\/04\\\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/05\\\/04\\\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/05\\\/04\\\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\\\/\",\"name\":\"Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"datePublished\":\"2013-05-04T10:07:26+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/05\\\/04\\\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/05\\\/04\\\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/05\\\/04\\\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. Strategic. Unfiltered. \",\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/thepatientinvestor.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=61572934660810\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\",\"name\":\"ColinTwiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"caption\":\"ColinTwiggs\"},\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/author\\\/colin58s\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog - the patient investor","og_description":"Joseph Stiglitz writes: This might seem obvious. But a focus on the provision of credit has neither been at the center of policy discourse nor of the standard macro-models. We have to shift our focus from money to credit. In any balance sheet, the two sides are usually going to be very highly correlated. But … Continue reading \"Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_published_time":"2013-05-04T10:07:26+00:00","author":"ColinTwiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"ColinTwiggs","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\/"},"author":{"name":"ColinTwiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5"},"headline":"Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog","datePublished":"2013-05-04T10:07:26+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\/"},"wordCount":151,"commentCount":0,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"keywords":["Credit","money supply"],"articleSection":["Debt Levels"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\/","name":"Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"datePublished":"2013-05-04T10:07:26+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/joseph-stiglitz-we-have-to-shift-our-focus-from-money-to-credit-the-imf-blog\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"Joseph Stiglitz: We have to shift our focus from money to credit | The IMF Blog"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. Strategic. Unfiltered. ","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5","name":"ColinTwiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","caption":"ColinTwiggs"},"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/colin58s\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1ZN","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":39178,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/12\/03\/slow-motion-train-wreck-revisited-part-ii\/","url_meta":{"origin":7675,"position":0},"title":"Slow motion train wreck revisited – Part II","author":"Colin Twiggs","date":"December 3, 2022","format":false,"excerpt":"Earlier in the week, we discussed the state of the economy. Consumer spending and business confidence are still strong -- and the labor market remains tight -- but a resilient economy will force the Fed to hike rates higher than anticipated. It will also motivate them to keep rates high\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Treasury Yields: 10-Year minus 3-Month","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-11-29-10y3m.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-11-29-10y3m.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-11-29-10y3m.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":5897,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/29\/five-steps-to-fix-wall-street\/","url_meta":{"origin":7675,"position":1},"title":"Five steps to fix Wall Street","author":"Colin Twiggs","date":"October 29, 2012","format":false,"excerpt":"Some more thoughts on the five steps former FDIC chair Sheila Bair suggested to reform the financial system. Break up the \u201ctoo big to fail\u201d banksMy take is that breaking up may be difficult to achieve politically, but raising capital ratios for banks above a certain threshold would discourage further\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & 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":27803,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/09\/09\/low-interest-rates-and-the-debt-trap\/","url_meta":{"origin":7675,"position":2},"title":"Low interest rates and the debt trap","author":"Colin Twiggs","date":"September 9, 2021","format":false,"excerpt":"Since 1980, debt levels have more than doubled, from 1.4 times GDP to more than 2.8 in Q1 this year. The rise has been facilitated (and encouraged) by a sharp fall in long-term interest rates, with 10-year Treasury yields falling from a peak of close to 16% in September 1981\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & 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":45437,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/11\/17\/feds-stealth-liquidity-is-fueling-a-stock-market-rally-michael-howell\/","url_meta":{"origin":7675,"position":3},"title":"Fed’s Stealth Liquidity Is Fueling A Stock Market Rally – Michael Howell","author":"Colin Twiggs","date":"November 17, 2023","format":false,"excerpt":"Stocks are rallying despite slowing bank credit growth. Loans and leases by commercial banks (gray) may still be growing but are declining relative to GDP (blue below). Michael Howell from Cross Border Capital -- one of the few experts to correctly forecast a stock market rally in 2023 -- explains\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Commercial Bank Loans & Leases","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-11-17-bank-loansleases.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-11-17-bank-loansleases.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-11-17-bank-loansleases.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":11393,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/12\/03\/will-falling-commodity-prices-cause-deflation\/","url_meta":{"origin":7675,"position":4},"title":"Will falling commodity prices cause deflation?","author":"ColinTwiggs","date":"December 3, 2014","format":false,"excerpt":"Some readers expressed concern about falling commodity prices, especially crude oil, and whether this will cause global deflation. This confuses the cause with the symptom. Falling prices are largely benign except where caused by a contraction of the money supply. Commodity prices may fall when there is an excess of\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-12-02-crude.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-12-02-crude.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-12-02-crude.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":4555,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/06\/when-austerity-fails\/","url_meta":{"origin":7675,"position":5},"title":"When Austerity Fails","author":"Colin Twiggs","date":"June 6, 2012","format":false,"excerpt":"Austerity decimated Asian economies during their 1997\/98 financial crisis and similar measures have failed to rescue the PIIGS in Europe 2012. David Cameron's austerity measures have also not saved the UK from falling back into recession. So why is Wayne Swan in Australia so proud of his balanced budget? And\u2026","rel":"","context":"In "Debt Levels"","block_context":{"text":"Debt Levels","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/debt-levels\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/7675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=7675"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/7675\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=7675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=7675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=7675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}