How the Troika, the WSJ and the NYT Keep the Public Befuddled About Austerity and Deflation
Deflation proves that austerity policies are failing, but the media is doing a remarkable job of keeping readers confused and ignorant.
Read more...Category Archives: Economic fundamentals
Robert Pollin and Dean Baker Discuss the Anemic Recovery and Why Economists Don’t Recommend Real Remedies
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...The Federal Reserve Versus Hyman Minsky (and Deflation)
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.
Read more...Why Don’t the Unemployed Get Off Their Couches?
Why it is ludicrous to expect the unemployed to pull themselves up by their bootstraps.
Read more...Mathew D. Rose: When European Politicians Cannot Read the Handwriting on the Wall
Despite the alarming results of the European elections last week, Angela Merkel remained unflinching. That is a cause for concern. European politicians believe the solution to voter ire is better messaging, as opposed to a change in policy.
Read more...Is That a Good State/Local Economic Development Deal? A Checklist
Yves here. This post addresses an important but oft-neglected topic: that of the stealth subsidies to the rich and connected that take place via economic development projects.
Read more...Bill Black: Spain’s “Stimulus” Plan – Austerity, Rebranded
Spain’s conservative government, eager to change the media’s emphasis on its repudiation in recent EU elections, has launched a media campaign stressing its adoption of an aggressive “stimulus” program. But once you get past the hype, this new program is the same old failed austerity snake oil.
Read more...Michael Hudson: The EU Parliament Elections as a Vote Against the Oligarchs
The US press and newscasts make it appear that Europeans have voted against poor immigrants and foreigners. What they voted against was the super-rich, the oligarchy.
Read more...Joe Costello: Why the Oil Industry is Running Into Major Trouble
Over the last year, some deep truths about oil and the oil industry have begun to bubble to the surface. Not necessarily that they were ever hard to see, but they were easy to obscure and maybe more importantly, without too much effort, ignore. No longer.
Read more...Wolf Richter: The Big Hoax Of The Wall Street Hype Machine
Wall Street earnings are running on hype, momentum, and earnings expectations gamesmanship. Investors beware!
Read more...Wolf Richter: Housing Bubble 2 Already Collapsing for the 99%
One of the side effects of QE is that housing prices and sales levels for the top 1% in most markets are strong, while activity in the rest of the market is falling.
Read more...Ukraine: The Real Energy Crisis Starts in June
The West needs to curb its enthusiasm over the recent elections in the Ukraine. Gazprom is tightening the energy screws next week.
Read more...Michael Perelman: Vietnam – Invitation to a Morass
How the Vietnam War helped usher in neoliberalism, financialization of the economy, and the use of military spending as stealth stimulus.
Read more...Wolf Richter: World Trade Suddenly Slumps (Just Forget ‘Escape Velocity’)
The US economy, and by extension the world economy, is desperately waiting for the spring escape velocity to finally kick in. But the latest world trade statistics say it’s not happening.
Read more...Global Food Security Needs States to Ally with Family Farmers
Yves here. If you live in an advanced economy, and are at least middle income, you probably don’t give much thought to the availability of food. Expect that to change in the coming years. Agribusiness is a major driver of food insecurity. Successful experiments show that relocalization of food production can be an effective remedy.
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