fiscal

This is a wonkish post, but bear with me, because it's important. Randall Wray's last post sparked a thought regarding trade deficits and budget deficits which I wanted to run by you. Randy said: We see from the chart that the…

by L. Randall Wray In recent months, the nation's pundits have been whipping up deficit hysteria in a mass public mis-education campaign funded by billionaire Pete Peterson. In this blog I will explain why we should not be misled. First,…

Piggybacking off of my last post highlighting Nouriel Roubini's talk with Simon Constable, I wanted to present three videos from Roubini's appearance on NBC Europe this morning. In the earlier pre-Davos Wall Street Journal interview,…

Nouriel Roubini talks with the Wall Street Journal's Simon Constable in the video below about both the developed economy – emerging economy divide that has developed as well as the challenges ahead for the US economy.  His view on both…

by Win Thin EM currencies are getting hammered in this latest bout of risk off trading, though the performance is very mixed across the asset class. Given that markets are now punishing EM currencies with weak fundamentals or where…

In the video below, David Wessel argues forcefully that we are seeing four big issues. State and local revenue i.e. their tax base has been decimated by the downturn at the same time as many turn to government to keep their heads above…

By Annaly Capital Management Lost in the headlines over the state of the expense side of municipal finances is the fact that tax revenues are rising at the state and local level. The U.S. Census Bureau tracks the various line items of…

By Annaly Capital Management Senator Rand Paul is on the tape promising to unveil a budget with $500 billion in expense cuts in one year, and that he will not spare any government program or agency from his scythe, including the Defense…

By Edward Harrison Randall Wray wrote a paper on "The Fall of the New Monetary Consensus" which we posted at Credit Writedowns last week. Randy took on the theoretical underpinnings that guided policy makers through the most…

Frederick J. 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) and "The Coming Collapse of the Municipal Bond…