Why the Government Bonds Owned by the Bank of England Are Not a Debt Burden, Even When They’re Repaid
A short discussion of government bonds and what happens when a central bank holds them.
Read more...Category Archives: Macroeconomic policy
Preparing for a Wave of Non-Performing Loans: Are Banks at Risk?
On a aggregate basis, EU banks appear to have enough capital to weather even a bad Covid storm. A country-by-country look tells another story.
Read more...Austerity Raises Covid Deaths
Mortality and economic data show that stingy government spending and resistance to redistrbution have increased Covid health costs.
Read more...We May Be Living in a Moment of Misplaced Optimism
The current bout of optimism looks too close to giddy for my comfort. And yours?
Read more...Scoring the $1.9 Trillion Stimulus Plan and Earlier Covid Relief Programs
How to do a better job of getting relief to those who need it.
Read more...Michael Hudson and Paul Craig Roberts: It Is Time To Remove The Debt Barrier To Economic Growth
Why it’s time for a widespread debt writedown.
Read more...New York City Lost a Record 631,000 Jobs to the Pandemic in 2020. So What’s Next?
A look at the raw numbers behind the pain of New York City’s biggest economic downturn since the Great Depression.
Read more...New Zealand’s Feeble Attempt to Curb Sky-High Housing Prices
New Zealand, awfully late in the game, is trying to Do Something about insane housing prices.
Read more...Nomi Prins: To Build or Not to Build? The Infrastructure Question
For all sorts of bad reasons, American has a huge infrastructure spending backlog. But can we even do the job well?
Read more...DSGE, the Standard Economic Paradigm, is Based on Bad Modeling
Why the New Keynesian Dynamic Stochastic General Equilibrium (DSGE) is a straightjacket for macroeconomics.
Read more...Pointless Pain Is What We’re Enduring. And All for the Sake of Accepting That Money is Not a Constraint on Our Potential, and Never Will Be
Defitic hysteria, UK style, and why misunderstanding what government money is about persists.
Read more...Bad Stimulus: Government Payments to Individuals Are a Terrible Way to Solve America’s Structural Economic Problems
Why the Biden stimulus program is fundamentally wrongheaded.
Read more...A Big Fiscal Push is Urgent, The Risk of Overheating Is Small
The $1.9 trillion fiscal stimulus should be large because the need is large.
Read more...“I’m Sorry,” Says Ro Khanna, “An Unelected Parliamentarian Does Not Get to Deprive 32 Million Americans the Wage Raise They Deserve.”
The Biden Administration proves it cares only about the donor classes by standing pat as its own $15 minimum wage proposal founders.
Read more...Eviction Moratorium Deemed Unconstitutional by Federal Judge in Texas
The Trump and Biden stimulus on the cheap, of having landlords support income-starved renters in lieu of subsidies, is now in trouble.
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