Yves here. It’s been astonishing to see members of the Fed in denial about their own handiwork, so when St. Louis Fed President James Bullard berates his fellow central bankers for their abject refusal to notice pre-crisis bubbles, it’s an all too rare departure from their usual insularity and willful blindness.
Read more...What is CalPERS trying to hide? The pension fund sweetly professes that we should have the data we’ve asked for, but won’t provide it. It’s latest move shows how deeply it is committed to scorched-earth strategies in dealing with us.
Read more...Obama’s energy plan ignores methane as a greenhouse gas. That reflects the Administration and EPA buying into Big Oil and “clean energy” propaganda so as to permit more fracking.
Read more...The recent European elections were a decisive victory for the right, and the craven, co-opted left has no one but itself to blame.
Read more...Larry Summers, like Tim Geithner, wants the public to believe that rescuing banks and leaving citizens to rot was the right crisis response. But neither experts, nor people who followed the crisis, nor voters at large are buying what Team Obama is trying to sell.
Read more...Russian companies are mounting a challenge to the dollar by seeking to arrange trade transactions in other currencies. But how serious a threat is it?
Read more...David Cay Johnston is a clear and lively conversationalist, and I anticipate readers will enjoy his discussion of his work over the last 20 years on inequality.
Read more...A pending economic incentive deal in Alabama is a case study of why these proposals need hard, skeptical reviews.
Read more...Deflation proves that austerity policies are failing, but the media is doing a remarkable job of keeping readers confused and ignorant.
Read more...SEC chairman Mary Jo White made clear in a new speech that she’s not going to do much about high frequency trading.
SEC chairman Mary Jo White spoke on Thursday about high frequency trading. She made clear that she not going to do much to curb it but will engage in more studies so as to look to be Doing Something.
Read more...The ECB is expected to cross a Rubicon today by implementing negative deposit rates. What is the impact likely to be?
Read more...A good discussion of why the weak economic recovery has only helped those at the very top, and why economists who know better continue to enable that.
Read more...How the Fed has gotten itself caught in its own underwear by ignoring Hyman Minsky and in persisting in the clearly failed strategy of super lax monetary policy rather than calling for more government spending.
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