Printing money alone cannot save the world

If a Romney win were to be followed by a massive reduction in monetary easing, it would tip the US into recession, writes David McWilliams.

1st September, 2012
While the private sector is deleveraging, the public sector is taking on more and more debt.

This week, the world's most powerful central bankers, led by Ben Bernanke, will hook up in Jackson Hole in Wyoming for their annual chinwag. This year, Mario Draghi will not be going, as he has some urgent business to attend to in Europe. However, like no other year, the chitchat of these individuals will determine the path of a global economy which is increasingly dependent on infusions of cheap credit from central bankers.

A few...

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