deficit

By Marc Chandler This Great Graphic that shows that deficit reduction in the US over the past three years is largest in more than 60 years.  I found it at the Investor's Business Daily, which of course, is  not known for its leftist…

Note: this daily will not have links as I am still on holiday. But, I will begin to post more in the coming week and resume a normal posting schedule next week. Yesterday, Moody's Investors Service finally downgraded the sovereign credit…

I think it goes without saying for those of you who have been using the sectoral balances approach, government deficits are what have been driving corporate profits in the U.S. to record levels. Most analysts and news outlets focus on the…

I actually thought about doing the daily on the Wells Fargo fraud 'without fraudsters' meme because it really captures the problem with regulation of our financial system but that is a policy issue. Instead, I want to focus on a macro…

This is a brief follow-on to the last post on whether we should be optimistic, in particular now that the US housing market is improving. If you think about it, the problem now is that all debtors - public and private - are taking the…

I was on RT's Capital Account on Friday night talking to Lauren Lyster about QE and the conversation moved more into the realm of fiat currency and government's coercive taxing power. This is particularly relevant given arguments within…

Note: I missed a few articles here, so I may be updating this post with them later today. Or I may put them in the next daily links post As I said last year about the Troika's coming occupation of the periphery, none of these countries is…

According to recent media reports, the Indian Prime Minister Manmohan Singh is about to announce the appointment of University of Chicago professor and former International Monetary Fund Chief Economist Raghuram Rajan as India's chief…

This is not a good day for Spain. The day began with the EU Commission revising its estimates for the Spanish economy. The contraction is now expected to be considerably deeper. Spain unveiled its new efforts to address the banking…

Mindless austerity is losing policy credibility in some Eurozone nations. This column suggests governments shouldn’t mix long-term growth and fiscal discipline nor produce another Lisbon strategy. Instead, they should adopt a framework for…