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Political Economy
Does Quantitative Easing Work in Boosting the Real Economy?
Tomorrow the Federal Reserve will make an important and much anticipated announcement about monetary policy over the coming months. The main question for most market watchers and economists has to do with quantitative easing, or QE. It is…
Greek Woes
Sunday Greek deputy Prime Minister Pangalos told a local paper that in theory debt restructuring should not be completely ruled out, though the deficit would need to be dealt with first. He argued against "demonizing" debt…
No Mr. President, Larry Summers Did Not Resolve the Financial Crisis for a Pittance, He Just Papered…
by William K. Black William K. Black is an Associate Professor of Economics and Law at the University of Missouri-Kansas City. He is a white-collar criminologist and was a senior financial regulator. He is the author of The Best Way to Rob…
The Fed Underwrites Asset Explosion
Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). "That the economists...can explain neither prices nor the rate of…
Heckuva Job, Larry
On Comedy Central, the joke was on President Obama Wednesday night. The president had come, on the eve of what will almost certainly be the loss of his governing majority, to plead his case before Jon Stewart, gatekeeper of the…
Currency tension will continue despite Geithner’s diplomacy
This was my latest media appearance from last Friday. I spoke to Howard Green about the G-20 summit in Seoul with David Weidner of Market Watch. You can see some of my pre-meeting comments here. While I thought US Treasury Secretary…
German budget austerity requirements divide EU summit
The Germans are planning to put forward a plan to change guidelines to the stability and growth pact (SGP) to give it more teeth. The sense in Berlin is that the SGP, which limits budget deficits to 3% and debt-to-GDP to 60%, has been…
Video: Ex-president of Argentina Néstor Kirchner dies
News coverage: Argentina 'in shock' at former President Kirchner death – BBC Argentine assets rise on death of ex-President Kirchner – Reuters Kirchner's death may mark end of an era in Argentina – Miami Herald Consternación…
Unpublished Letters to the Financial Times and the New York Times
Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). To the Financial Times, October 7, 2010: Dear Sirs, It is…
Deflation, Reflation, Inflation
In our September 28 Salvo, we imagined an opportunity to ask Chairman Bernanke the following question: “What does the Fed do if it expands its balance sheet to $4 trillion or $6 trillion, drives the 10-year yield down to 2% or less, but…