BIS/Economists Speaking in tongues

Economists are often accused of speaking a different language from the rest of the world – one that is all but impenetrable to outsiders. The latest annual report from the Bank of International Settlements is a case in point. The central bankers’ central bank is worried about nine so-called «exposures» in the global economy. This turns out to be a euphemism for problems, ranging from zero real short-term rates to over-investment in China, which could reduce the world’s financial architecture to ...