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Yearly Archives
2012
Links: 2012-12-29
America’s Deceptive 2012 Fiscal Cliff | Michael Hudson
"The reality is that when banks load the economy down with debt, this leaves less to spend on domestic goods and services while driving up housing prices (and hence the cost of living)…
How the Japanese can get their exchange rate down
A lot has been made of so-called Abenomics after comments in Japan about forcing the central bank to set and defend a 2% inflation target. Getting a consolidated government balance sheet from a fiscal and monetary agent working hand-in-hand…
Links: 2012-12-27
I hope to be commenting on some of these links over the next few days. Today and tomorrow, will be in transit and won't be able to post. But afterwards I will have a lot to say, especially on Japan.
Best,
Edward
Housing
The echo…
Iron ore prices hit eight-month high on Chinese reflation efforts
According to the Financial Times, the Australian mining group Fortescue has moved into expansion mode on the back of robust iron-ore prices that are now at an eight-month high. The reason for the rebound is the reflation efforts of the…
Germany concerned about its own public finances
Until just recently, Germany was more indebted than Spain. The country was the first, along with France, to breach the Maastricht Treaty's 3% hurdle for annual deficits in 2005, prompting a change in the rules. And Germany has also been in…
US economic headwinds mounting
As the New Year begins, there are four events that are creating significant headwinds for the US economy. There has been a lot of talk about the fiscal cliff in the press but behind this is the debate over the US debt ceiling, which will be…
More on the move to a consolidated fiscal and monetary policy
The weekly post on Monday was on the new Japanese LDP Prime Minister Abe's threat to strip the Bank of Japan of its independence as a central bank. The thrust of his threat goes to the integration of monetary and fiscal policy to create a…
The Tea Party is still driving the bus in the US
This article from the New York Times gets it totally wrong:
The Tea Party might not be over, but it is increasingly clear that the election last month significantly weakened the once-surging movement, which nearly captured control of the…
The Fed cannot support net interest margins
On Christmas Eve, the Wall Street Journal had two interesting articles on the credit situation in the U.S., one from the banks' perspective and one from the households' perspective. In general, the data were positive but I believe the…