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Browsing Category
Political Economy
Oh It’s All Gone Quiet Over In The Eurozone!
Pretty hard to argue now the Spanish bank borrowing from the ECB is simply in line with the country’s share of total GDP I would have thought. Also, after having trended upwards ever so slightly for a couple of months, Spain’s industrial…
Corporate CEOs Won’t Invest in America, Why Should You?
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). There is no end of economists, analysts, and reporters filling the…
About Those Virgins
I don't buy the arguments David Galland gives about the shamans and the virgins when talking about financial reform. He says: dancing around open fires bedecked in certain animal skins or allowing shamans to sacrifice virgins were seen…
Why Does Dennis Gartman Sound Like Paul Krugman?
Listen to Paul Krugman in the first video with Bloomberg and then listen to Dennis Gartman in the second. The two seem to be arguing the same point – that the G-8 austerity position of higher taxes and lower government spending is the wrong…
Municipal Pathologies Come to a Head
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). Discussions about municipal finance generally assume three…
Is Military Spending The Third Rail Of Budget Cutting?
This Huffington Post article by Ron Paul (R-TX) and Barney Frank (D-MA) is interesting: As members of opposing political parties, we disagree on a number of important issues. But we must not allow honest disagreement over some issues to…
ECB credit easing by buying debt from Greece and Spain analogous to Fed buying California and…
The first real warning that growth in the global economy was set to decline came in April. And since then, the signs of distress have only increased. In the US, the distress is everywhere – in the housing data, the employment figures, and…
Lessons We Can Learn On How Stimulus And Jobs Programs Failed in Eastern Germany
"I have this to say to my fellow Germans in East Germany: The introduction of the social market economy offers you every chance, in fact, even a guarantee, that (the East German states of) Mecklenburg-Western Pomerania,…
Chart of the day: Record Profits But Cash Hoarding In The U.S.
These charts were compiled by Pimco via data collected from the Federal Reserve and Credit Suisse. They show that U.S. companies are earning record amounts of money but are not re-investing it. Instead, companies are hoarding cash.…
Kartik Athreya for Fed Chairman
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). Federal Reserve economist Kartik Athreya has written what all Federal…