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Postmortems of last month’s European Union summit meeting have now turned to why the Greek debt rescue failed to restore investor confidence in the country’s finances. Many reasons are advanced: the failure to communicate clearly; the…

We repeat: the “debt problem” is a currency problem and the currency must and will collapse. The global monetary system exists at the pleasure of the Fed, which legally exists at the pleasure of Congress, which as we have learned only has…

Institutional investors have learned how to create and game self-fulfilling prophecy runs in various asset markets. (George Soros understood this and demonstrated its efficacy with his effort to break the pound in 1992.) Indeed, this is one…

Included in the BEA's first ("Advance") estimate of second quarter 2011 GDP were significant downward revisions to previously published data, some of it dating back to 2003. Astonishingly, the BEA even substantially cut their annualized GDP…

The research presented below from the IMF from October 2010 "finds that fiscal consolidation typically reduces output and raises unemployment in the short term. At the same time, interest rate cuts, a fall in the value of the currency, and…

If economic crises make the short-run pains of reforms easier to bear, then crises could yield considerable long-run benefits. But this column argues that the recent global financial crisis has been wasted thus far. It suggests that it is…

Warren Mosler argues that either way the debt ceiling debate goes, the economy remains vulnerable to looming external shocks. And that is bullish for bonds.

What happens on August 3rd if no debt ceiling negotiation is reached in the US. This column argues that Treasury could go around, not over the debt ceiling limit by using its constitutional authority to mint money.

Europe is in a dire situation. If it doesn't address the underlying causes of the Greek crisis quickly, Europe's political project will face the same fate as communism and the US Confederacy, writes James K. Galbraith.

The S&P has gone from 2 standard deviations below the 20-day moving average on the 16th June to 2 standard deviations above it now, something it did prior to the 87 crash when it rallied 6.4% in the week prior to the crash. It has been…