By Stephanie Kelton, Associate Professor of Economics at the University of Missouri-Kansas City. Cross posted from New Economic Perspectives.
My Twitter followers are constantly asking me if I think more spending would really help the economy recover. I understand their skepticism.
Read more...I’m remiss in not seeing and commenting till now on a Felix Salmon post (hat tip Adam Levitin) earlier this month on law firm billing rates. Felix misses the real driver of law and other professional firm economics in his piece. In referring to top law firm partners who earn as much as $5,000 an hour, he says:
Read more...By Delusional Economics, who is horrified at the state of economic commentary in Australia and is determined to cleanse the daily flow of vested interests propaganda to produce a balanced counterpoint. Cross posted from MacroBusiness
As I wrote early last week Antonis Samaras was to spend much of the weekend in talks with Angela Merkel and Francois Hollande about the future of his nation. As the Telegraph pointed out yesterday the results were, as expected, unconvincing:
Read more...While our prolonged economic downturn is concentrating power and wealth in fewer and fewer hands, it is also stimulating efforts to create more democratic business models.
Read more...Real News Network has a sobering interview with Costas Lapavitsas,a professor at the University of London School of Oriental and African Studies, who gives an update on the political and economic situation in Greece.
Read more...By Zarathustra, who is the founder of Hong Kong blog Also sprach Analyst. He was educated at the London School of Economics and the Chinese University of Hong Kong and was once a Hong Kong-based equity research analyst focusing on Hong Kong real estate (which he did not really like), with a secondary coverage on China real estate sector (which he actually hated). Cross posted from MacroBusiness
To this date, there remains a lot of confusion about the ability of People’s Bank of China (PBOC) to ease monetary policy.
Read more...No matter how bad things get, it turns out they can always get worse. Wall Street is about to foist a new “innovation” on investors that even the ratings agencies won’t touch.
Read more...Yves here. Paul Krugman already pounced on a major, and disturbing, deception on behalf of the Romney economics team: that Glenn Hubbard, Greg Mankiw, and John Taylor (along with Kevin Hassett) published a white paper which grossly misrepresented the research of multiple economists. In other words, they are willing to flat out lie to create the impression their policies ideas have wide-spread support among economists.
Pavlina Tcherneva makes separate observations about the key advisors in Romney’s camp and how well their ideas have fared in our depression-in-the-making.
Read more...By Nanea, a private equity insider
I’ll be having much more to say later about the Bain documents posted on Gawker.
In the meantime, I would like to point out the utterly misleading nature of the statement issued by Bain Capital in response to the documents’ release.
Read more...Ordinarily, it might not seem worth the bother to debunk yet another piece of bank propaganda. However Thursday’s op ed by former JP Morgan Chase chairman William Harrison, “Don’t Break Up the Big Banks,” recites a classic set of time-worn canards. As regulatory compliance expert Michael Crimmins said via e-mail, “It’s sounding desperate that they’re dragging Harrison out of retirement to spout this drivel.”Thus shredding this piece makes for one-stop shopping on this topic.
Read more...As a public service, I’m pointing to an important post at Gawker on some Mitt Romney investments that he has until now managed to shield from scrutiny.
Read more...Every week, it seems there’s another tragic story about a suicide or murder-suicides linked to foreclosure trauma. Some of the more spectacular murder-by-foreclosure stories the past few years have been collected by a blog called “Greenspan’s Body Count”—others, myself included, have been writing about these terrible stories of class warfare being waged by the only side fighting it, and winning it, as Warren Buffett rightly said.
Before the 2008 crisis, the media paid little attention to the death toll taken on Americans by the decades-long class warfare waged against the 99%. Now they’re impossible to ignore.
Read more...RT interviews University of Athens economics professor Yanis Varoufakis on the latest round of Greek bailout negotiations.
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