Thursday, June 30, 2016

MIchael Hudson: The Slow Crash

Michael Hudson discusses some of his favorite themes; debt deflation, the high cost of consumer debt, negative interest rates.

2:00PM Water Cooler 6/24/2016

Today’s Water Cooler: Campaigns on Brexit, Jon Ralston gets his, House “sit-in”, Nooners on Trump, durable goods, yield curve, the Nostromo

California Treasurer Chiang’s Private Equity Transparency Three Card Monte

California Treasurer John Chiang promised landmark private equity transparency but instead acted as a stooge of the private equity industry and failed to stand up to captured public pension funds.

The Sterling Depreciation of 2007-2008 and Its Implications for Brexit

The unexpected impact of the fall in sterling in 2007-2008 suggests Brexit could produce a drastic drop in UK living standards.

Links 6/24/16

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Brexit: The Crisis Begins

The Brexit vote was a stunning repudiation of neoliberalism and austerity. But what comes next?

Wolf Richter: Worst “Zombie States” in America “Deteriorate Faster, Further”

A ranking of US states for their “zombie” meaning slow-motion fiscal crisis, risk.

Michael Hudson: Socrates on Debt and Ibn Khaldun on the Cyclical Rise and Fall of Societies

Socrates described how the use of debt by the elite to strip the lower orders of their property sets up revolutions.

2:00PM Water Cooler 6/23/2016

Today’s Water Cooler: Anti-TPP concerts, Clinton economy plan, House sit-in, Trump attacks, leading indicators, meritocracy, permaculture

The Global “New Normal” Is Not New– But It Is Still a Real Concern

Why the “new normal” is a sign that capitalism is running out of options.

Links 6/23/16

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IMF Warns That Inequality, Poverty, Low Productivity Growth, Falling Workforce Participation Will Drag on US Growth

The IMF has become an unlikely reporter of unpleasant realities about the US economy, particularly the costs of inequality and distress. If only its prescriptions were better….

Sanders Has Leverage But Clinton Will Never Bargain

Clinton can offer nothing meaningful to Sanders and his supporters, and therefore Sanders has no reason to capitulate. Not hard to understand unless you are committed to not understanding that.

Enforcement of Puerto Rico’s Colonial Debt Pushes Out Young Workers

Yves here. This post corrects some of the misleading accounts of the history of the Puerto Rico’s debt crisis and describes how the neoliberal remedy is producing an Ireland-style exodus of the young. By José A. Laguarta Ramírez. Originally published at Triple Crisis At least 23 of the 49 people killed in the mass shooting […]

2:00PM Water Cooler 6/22/2016

Today’s Water Cooler: