Marshall Auerback 138 posts 10 comments

Marshall Auerback argues that President Obama remains close to Wall Street via Geithner, Summers, Rubin, et al. Given the strong mutual cultural antipathy between Wall Street 'Yankees' and Southwestern 'Cowboys', it is not surprising that…

Today’s unemployment data suggests that we are experiencing something far worse than a mere “bump in the road”, as our President described it last month. Today’s data should create real palpitations in the White House. This isn’t just a…

It may not have been the most felicitous choice of phrase, but Mark Halperin’s characterization of Barack Obama was not far off the mark, even if he did get suspended for it.

Short of a fiscal union, there are other measures which the Greeks could adopt to make their bonds more attractive to external investors, thereby preventing the markets shutting the country down and refusing to extend further credit to a…

This is the second in a two-part essay on the origins of the sovereign debt crisis. Here the emphasis is on the present situation within the euro zone and the imbalances between the core, dominated by Germany, and the euro zone periphery.

This is the first in a two-part essay on the origins of the sovereign debt crisis. Here the emphasis is on Germany’s central role in the last century and a half of European history and in the formation of the euro

Marshall Auerback and Rob Paenteau explain a method the Fed might use to target interest rates further out on the yield curve.

Once divorce from the euro is complete, Germany will regain its fiscal freedom. This is itself something the Germans should celebrate, providing their government takes advantage of their newfound fiscal freedom. Remember, once it returns to…

Greece and Ireland appear to have lost an important political ally with the sidelining of Dominique Strauss-Kahn as both plead for more financial assistance from European partners to avoid an early restructuring of debt. The key word is…

As James Galbraith has argued, the problem is said to be no more serious than some clogged plumbing. A bit of Drano in the form of government handouts and guarantees should be sufficient to get credit flowing again. Nonsense. Private debt…