deficit

Here is the video everyone is talking about, Ron Paul and Paul Krugman debating the economy and economic policy. Enjoy.

As predicted earlier this year, Japan continues to struggle with its energy needs. The chart below shows the recent trend in Japan's imports of residual fuel oil. These fuel imports are quickly translating into a rising trade deficit.

The rump Dexia now owned by the Belgian government is a structurally loss-making enterprise that will cost the Belgian government 2 billion in deficits every year from 2014.

Banks, households and the government sector are all engaged in deleveraging. It is difficult to see where aggregate demand will come from. Spanish exports in January were up about 4% from a year ago, but the pace appears to be leveling off.…

Warren Mosler presents some macro economic themes that will have implications for the investing and business climate.

This is a gold level post. So we've got a deal on the Greek restructuring. Everyone is talking about it. Here are the things to pay attention to.

This is a gold level post. According to the US Bureau of labor Statistics, nonfarm payroll employment rose by 227,000 in February, and the unemployment rate was unchanged at 8.3 percent. Here are my thoughts on what this signals about the…

Spain is on a bad course, with recognised debt about to surge rapidly, while investor confidence in the current administration is slipping. Time for another “game changer” I think, since otherwise this car is about to crash.

This is a silver level post. Spain is now fessing up that its going to miss 2012 targets as well as its 2011 deficit targets. For Credit Writedowns readers, this should come as no shock because I predicted this months ago. Here's the…

The devolution in Spain is particularly troubling. The new fiscal compact had just been signed last week, which includes somewhat more rigorous fiscal rule and enforcement, when Spain's PM Rajoy revealed that this year's deficit would come…