How Recessions Crush Certain Geographic Areas: Puerto Rico as a Case Study.
How US policy neglect helped created Puerto Rico’s lousy economy.
Read more...Category Archives: Economic fundamentals
GREECE’D: We Voted ‘No’ to Slavery, but ‘Yes’ to Our Chains
Greek journalist Michael Nevradakis and US investigative journalist Greg Palast have a different take on the Greek ‘No’ vote against Europe’s cruel austerity demands.
Read more...Why the Greek Government Rejects a Grexit
Why the Greek government and Greek citizens recognize that a Grexit is a terrible idea for them.
Read more...Old Economic Thinking is the Problem, Says BIS
The BIS shellacks Bernanke’s savings glut hypothesis and stresses that financial fragility is still a big risk.
Read more...The Washington Consensus and Long-Term Austerity in Latin America
Most Latin American countries—including those, like Chile and Brazil, where democratically elected leftist governments were overthrown in the 1960s and 1970s. reversed course to adopt “neoliberal” economic policies. How well did that work?
Read more...Tsipras Accepts Most Creditor Terms as Merkel Insists on Referendum
Post-bailout expiration dynamics are likely to produce even worse outcomes for Greece than it had on offer from the creditors last month.
Read more...My Big Fat Greek Bank Black Hole: No Deposit Insurance
It’s hard to find an official who is comporting himself very well in the wake of the Tsipras surprise announcement of a referendum on July 5 for a then-defunct bailout offer.
Read more...The Standard Definition of Money is in Error
Yves here. This post is elegant in the way it challenges the standard (sloppy) definitions of money. Even if you don’t agree, it will force you to think and articulate why you don’t agree (hopefully in a rigorous manner).
Read more...Obergefell v. Hodges, Identity, and Dignity
Does the logic of Obergefell apply to the dignity of labor?
Read more...BBC: ECB to Stop Emergency Support of Greek Banks on Monday; Bank Holiday Likely
The ECB has decided to lower the boom on Greece.
Read more...Greece Bailout Deal Looks Even More Remote
Greece’s creditors made a remarkably harsh proposal after the ruling coalition crossed some of its red lines. Is this a plot to break the government?
Read more...Cringley on How the Bogus Shareholder Value Theory is Wrecking the Computer Industry (and America Generally)
Why the bogus idea that managers should focus on “maximizing shareholder value” is driving the American IT industry into the ditch.
Read more...What if the Euro Area Falls into Serious Deflation?
Why structural reforms will not ward off deflation in Europe.
Read more...Economists, Wall Street Upset About Stingy Millennials
Stingy spending and investing behavior by millennials is a part of the New Normal that the officialdom would like to ignore.
Read more...View from the Past: Banks Preferred Lending to Businesses, Not Collateral
Why the rise of collateral-based lending has been bad for our economic health.
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