Economy

Good video with Steve Keen, the Australian economics professor with Max Keiser. Steve not only talks about the Australian economy and that country's housing bubble but also about the bursting of housing bubbles in Canada, the UK and Hong…

MF Global may prove to be yet another example of how meaningless the word “bonus” has become. One of the trustees overseeing the broken firm wants to pay out hundreds of thousands of dollars to three executives who used to report to Jon…

Naturally austerity isn’t popular, and evidently it doesn’t work as intended, but then this was already known before we started on this course, so it isn’t really a surprise. But what alternative do the Euro Area’s imprisoned periphery…

Michael Pettis predicts a hard landing in China. How much will growth slow? The World Bank report apparently doesn’t say, but the consensus has been slowly moving down towards 5-6% annual growth over the next few years. That’s better than…

This is a gold level post. So we've got a deal on the Greek restructuring. Everyone is talking about it. Here are the things to pay attention to.

This is a gold level post. According to the US Bureau of labor Statistics, nonfarm payroll employment rose by 227,000 in February, and the unemployment rate was unchanged at 8.3 percent. Here are my thoughts on what this signals about the…

If and when the demand for credit increases, so too will the money supply.

The chart below tracks the economy of the United States and selected European economies, demonstrating the varying impact of the financial crisis there. March 2007 is the reference point where Real GDP is re-based at 100.

The troubling paradox is that the strongest proponents of “broken windows” theory and policies in the blue collar crime context are the strongest opponents of applying analogous policies in the elite white collar crime context.

In an entirely fraudulent paper chase, the banks that borrowed LTRO money put some of it to work in sovereign carry trades. The banks have borrowed at 0.25% from the ECB and are buying sovereign bonds with much higher yields. Intesa…