Today’s Water Cooler: Hillary juggernaut to roll in April, bats at the Freedom Summit, Sheldon Silver, hedgies prepare for SHTF moment.
Monday, January 26, 2015
Posted by Lambert Strether at 6:55 am |
By Lambert Strether of Corrente. In last week’s State of the Union speech, Obama (again) pressed Congress to give him “fast track” negotiating authority (Trade Promotion Authority): I’m asking both parties to give me trade promotion authority to protect American workers, with strong new trade deals from Asia to Europe that aren’t just free, but […]
While the election results in Greece have sent shockwaves through European technocratic elites and have rattled investors, it is not clear how successful Syriza will be in getting big enough changes implemented in Eurozone policies and its own bailout terms to end the humanitarian crisis, rather than just create the sort of bounce off the bottom growth that analysts like to depict as progress. Indeed, once you walk though the likely bargaining positions of the various parties, there is little reason to be optimistic on Syriza’s behalf.
The European Central Bank has just launched full-fledged quantitative easing. This column argues that the ECB’s watershed decision highlights both the strengths and the persistent vulnerabilities of the Eurozone. The limited-risk-sharing provision flags the need for greater fiscal union; and governments should use the respite that QE provides to launch much-needed structural reforms.
That’s their story and they’re sticking to it.
We’re having two posts on the Greek elections tonight, since the media accounts are so slanted as to merit discussion. The notion that a democratically elected government would put broad social interest over continued, self-destructive sacrifices to financiers and their allies in European governments is so threatening that a large swathe of media outlets seem […]
Posted by Lambert Strether at 6:55 am |
Why CBO scoring was the wrong question to ask about ObamaCare
Topics: Health care
Posted by Lambert Strether at 6:45 am |
How digital surveillance reinforces socioeconomic hierarchies.
Posted by Yves Smith at 6:55 am |
I was going to start out saying yesterday was the saddest day in Europe in 50 years, or something like that, because of the insane and completely nonsensical largesse the ECB permits itself to launch, aimed at once again saving a banking system, but which will not only not help the European people, it will make things even much worse than they already are. Which is also, lest we overlook that ‘detail’, entirely thanks to the ECB/EU/IMF Troika.
We’ve been writing about abuses of power and process at the Congressional Budget Office and will be ramping up our coverage further now that ranking member Bernie Sanders has a new team at the Budget Committee, which among other things supervises the CBO. And the CBO is going to be the subject of a major political fight over how it prepares its estimates of the economic and fiscal impact of pending legislation. As we’ll discuss below, Republicans plan to mandate that the CBO use something called dynamic scoring, which has the effect of making tax cuts look far more beneficial to the economy than they are, by effectively claiming that tax cuts boost growth, which then boosts tax receipts. It would effectively institutionalize the Laffer curve, which has been widely and repeatedly debunked. As troubling as this development is, there’s already a lot not to like in how the CBO operates.
Today’s Water Cooler: ECB QE, Sheldon Silver and state capture in NY, Clinton beats the Mittster like a gong, King Abdullah a piece of work
There’s no end in sight to Odgers’ inept duplicity: she can’t even tell the truth about her resignation from Pacific Fiduciaries
Lawyers as Crime Enablers: Maine Bar Counsel Punts on Sanctioning Foreclosure Attorneys for Bogus Affidavits
Robosigners and the foreclosure mill attorneys who worked with them filed millions of bogus affidavits. So where are the disbarments?