Tag Archives: Pettis Proposes Savings Glut And Income Inequality Are Source Pf Global Imbalances; Mish vs. Pettis: I Respectfully Disagree

Mish/ Mike Shedlock – Pettis Proposes Savings Glut And Income Inequality Are Source Pf Global Imbalances; Mish vs. Pettis: I Respectfully Disagree – 17 March 2014

MishMikeShedlockMichael Pettis at China Financial Markets taught me much of what I know about global trade. I am very appreciative. I tend to agree with most of his views.

I recommended his book “Great Rebalancing“, and still do.

In a recent email, however, Pettis revives the “Global Savings Glut” thesis and I strongly disagree. This is a somewhat lengthy discussion, but an extremely important one.

Income Inequality” is a front-page topic so let’s take a close look. Continue reading