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Browsing Category
Political Economy
Obama in his own words on the proposed tax cut deal
Present Obama answers questions on his decision to go against his campaign promises to let the Bush tax cuts expire.
Obama’s Bushism
I almost feel naïve for being so angry at President Obama’s betrayal of his campaign promises regarding taxes. I had never harbored much hope that he actually intended to enact the reforms that his supporters expected – not after he…
Forecasting the Future
David Galland gives us his views on WikiLeaks, government spending, the Wesley Snipes tax case and more. Plus see Casey Research's interview with Ron Paul on an insider's insights into the situation in Washington today.
Grice: Europe and The Three Stages of Delusion
The recent sequence of reassurances from various eurozone policymakers suggests we are in the early, not latter, stages of the euro crisis. Only an Anglo-Saxon style QE will prevent dissolution of the euro. Such a radically un-German…
A few thoughts on the tax cut compromise
The tax cut deal is in. I would agree with Felix Salmon's take, that "this is tax cutting, Oprah-style: you get a tax cut! And you get a tax cut! And you! And you! You all get a tax cut!" Since Democrats and Republicans were never…
The government has a printing press to produce U.S. dollars at essentially no cost
Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many…
Whose Side is the White House On?
In a speech given on November 20, 2010 at the ADA Education Fund’s Post-election Conference at Harvard's Kennedy School of Government, Professor James K. Galbraith asks for whom President Obama is really working.
Chart of the Day: Net Payers and Receivers of EU Money
This chart is in German, but most of the terms should be clear. The top half of the chart are the net payers of existing fiscal transfers within the EU, Germany being the largest, followed by Italy, France, and the Netherlands. The biggest…
Munchau Says Eurobonds Would End Sovereign Debt Crisis
We have seen how German policy experts like Otmar Issing have argued against Euro Bonds. Now, we get a cogent argument in favour of thee debt instruments via Wolfgang Munchau of Eurointelligence. Munchau recently penned an FT column making…
Otmar Issing: Germans Should Just Say No to Eurobonds
The thinking behind Eurobonds is that a pan-euro zone debt instrument could be used as a release valve for liquidity issues, allowing the truly insolvent to restructure their state level debt if necessary, without creating contagion. The…