China Continues to Focus on Growth, Not Reform
Growth remains a top priority in China, but how will the central government achieve it?
Read more...Category Archives: Macroeconomic policy
James Galbraith Describes Major Forecast Failure in Model Used by Romers to Attack Friedman on Sanders Plan
James Galbraith examines the used forecast by Christine Romer and David Romer to attack Gerald Friedman’s favorable review of Sanders’ plan. He’d already shellacked the methodology in a 2014 book.
Read more...Bill Black: Krugman Triples Down on His Smear of Friedman and Bernie
Krugman has really lost it.
Read more...Krugman and His Gang’s Libeling of Economist Gerald Friedman for Finding That Conventional Models Show That Sanders Plan Could Work
Krugman has made maliciously false statements about economics professor Gerald Friedman. Demand that the New York Times issue a correction and that Krugman apologize.
Read more...The ECB’s Original Sin and Franco Modigliani’s Long View
Franco Modigliani foresaw how the ECB and the Eurozone architecture had an anti-growth bias and proposed remedies that were ignored.
Read more...Michael Hudson Discusses the Federal Reserve and the Global Fracture
Explaining how the Federal Reserve and central bank policies like QE, saved the banks at the expense of wrecking the real economy.
Read more...Randy Wray: The Value of Redemption (Debt Free Money, Part 3)
Repeat after me: creation comes before redemption. Always!
Read more...Will German Sovereign Debt “Bail In” Scheme Destroy the Eurozone?
Germany is keen on implementing a sovereign bail-in plan that is certain to precipitate a crisis, but more likely a banking crisis than a breakup.
Read more...Former Central Banker William White on the Failure of QE, Danger of Negative Interest Rates
Former Bank of International Settlements chief economist William White criticizes central bank policies sharply, particularly negative interest rates.
Read more...Dean Baker Exposes How CBO Cooks Inflation Forecasts to Promote Deficit Scaremongering
Yet more funny forecasts from the CBO telling you why you can’t have nice things, like a better job market.
Read more...New York Times’ Bank-Boosting, Neoliberal-Excusing Story of the Global Debt Hangover
A new story at the New York Times on the global debt overhang is an economically warped account that omits important policy options.
Read more...Explaining Why Federal Deficits Are Needed
Why you should expect and applaud federal deficits.
Read more...Former BIS Chief Economist Warns of Massive Debt Defaults, Need for Debt Jubilee; Fingers Europe as First in Line
Even though the former chief economist of the BIS calls for a debt jubilee, it’s only part of the medicine needed to get the economy out of the ditch.
Read more...Ann Pettifor: Why Radical Monetary Policy Failed in the UK
The failure to use fiscal policy in tandem with monetary policy means that the timid and short-sighted private sector has lacked confidence to ratchet up investment in productive, income-generating activity – as opposed to speculative activity.
Read more...Investment Manager GMO Debunks Mythology of “Sound Finance,” or Deficit Hawkery
Yves here. Sometimes it is best to let things speak for themselves. In that spirit, I am embedding a very important paper by the well-respected investment management firm GMO which debunks the tenets of “sound finance,” meaning the claim that governments need to balance their budgets. I expect to be referring to it regularly, particularly […]
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