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More on why US political gridlock threatens the economy
UMKC Economics head Stephanie Kelton was on Chris Hayes' show to talk about US fiscal politics along with three other guests. They discuss the political gridlock in the US and what it means for the economy.
On the sequester and the potential for a US government shutdown
In mid-January I had said I expected a recession in Q2 as a result of austerity and a government shutdown in the US. Recently, however, I have moved away from that position as a baseline, largely because of the rebound in housing and the…
IMPORTANT: Message to Bronze Members Only
This is a special message only for Bronze members of Credit Writedowns Pro.
The Fed exerts a dominant influence across the yield curve, not just on the short end
Long-term interest rates are a series of future short-term rates. That necessarily means that an interest-rate targetting central bank exerts the dominant influence not just on the short end in its currency area, but across the yield curve.…
The Dutch will miss targets in 2013 but refuse to institute more austerity
Well, well, well, it seems we have a problem in Euroland. The Dutch have now confirmed what I have been saying all along: they have run into so many fiscal problems that they will need to relax their targets instead of doubling down on…
Dissension is Overrated – Part II
Bernanke will inflate at an accelerating pace. The other central banks will chase him.
Comments on Europe and thoughts on the cyclical recovery in the US
Europe is in recession right now, but the US is in a weak but fairly long-lived economic recovery. The difference in economic fortunes owes entirely to differing policy responses in both regions. In Europe, the economic paradigm has…