Political Economy

Sorry for the lack of posts. I haven't been feeling well. But let me make a short appearance with some brief thoughts on the global economy. 1 - Brexit I have been distracted a lot by the Brexit drama unfolding in the UK. In general, I…

By Marshall Auerback This article originally appeared on AlterNet. Airbus is considering whether or not to shift the assembly process of its latest generation of A330 planes to China as part of a bid to increase its market share in the…

I want to get to the Fed decision later today. But, before that, let me update you on Brexit under the rubric "Brexit as Europe's Lehman moment". I am thinking of it this way because many policy makers want to avoid the political and…

Very quick here on Brexit. British Prime Minister Theresa May has now submitted a formal request to the EU to extend the Article 50 time period to June 30th. The reason for the extension is that Britain has nearly run out of time, and it…

Real quick here. I saw the jobless claims data today and thought they looked pretty good. But, I decided to go back to my 2008-2009 practice of sifting through the raw data for both initial claims and continuing claims. The numbers weren't…

Thinking about Japanification Two FT articles and a discussion at Real Vision precipitated this post. On Monday, I had a conference call with a few markets-oriented colleagues at Real Vision, where I am an editor and program presenter. And…

It took the dramatic downshift in non-farm payrolls today for people to wake up to the drip-drip of weak jobs data coming out of the US. This put the equity market into a funk and caused bond yields to sink back to where they were on…

The February 2019 Non-Manufacturing ISM data were very bullish. Both the headline and the major subindices showed a lot of strength. And for me that indicates the 0.3% number on the Atlanta Fed GDPNow tracker will move up markedly as more…

In the last few weeks, I've been seeing a lot of buzz about Modern Monetary Theory aka MMT. And most of what I'm seeing is reductionist to the point of absurdity. When I see critics of MMT talking about it, they're mostly using MMT as a…

May's stalling tactic hasn't worked In the two months since British Prime Minister Theresa May decided to postpone a Parliamentary vote on her deal with the EU, I have been predicting she would be forced to delay implementation of Article…