Marshall Auerback 138 posts 10 comments

Unemployment insurance for 21st century in the form of a jobs program could end the malinvestment and predations of politicians and foster a strong economy. We need jobs but we must be mindful of predator state capitalism. My proposal below…

Bernanke’s QE2 program has hurt savers, done nothing for banks, and eviscerated middle class living standards.

The essential idea is that the “money supply” in an “entrepreneurial economy” is demand-determined – as the demand for credit expands so does the money supply. As credit is repaid the money supply shrinks. These flows are going on all the…

By Marshall Auerback Yesterday, Ed wrote a good piece on consumer spending and the return of the economy to the status quo ante. I think it's a little bit more malign than that. There has been a real positive change in the underpinnings…

Marshall Auerback argues that despite a 'blame-a-thon' on Ireleand, Germans banks are really at the core of the eurozone catastrophe.

This is a post I wrote at New Deal 2.0 on the potential for a disastrous trade war. There has been a considerable amount of discussion about current account imbalances in light of last weekend’s failed G20 summit. For the most part, the…

The Fed, for whatever reason, has induced a shift in private portfolio preferences simply by talking about something.  But I think the point commentators like the Pragmatic Capitalist make is indisputably correct.  The policy…

Here's a re-post of mine from New Deal 2.0 on the Germans and their political rhetoric on QE. Okay, I did a few years of German language study, so I know that the real word for hypocrite is “Heuchler”. But when I read the latest guff from…

The following is a post I wrote earlier today at Naked Capitalism. I liked Ed's piece on QE called Does Ben Bernanke Believe The Stuff He Writes?. What caught my eye was his line, "As for monetary policy, while QE does not create new…

Given the push toward austerity, I want to make a few remarks about the intersection of full employment with trade and exchange rates. It all begins with the British austerity budget. In regards to that budget, recently presented by the…