nationalism

This post is a prelude to a BBC interview on the sovereign debt crisis. I am not going to answer financial Armageddon questions about "what oif it all goes pear-shaped" here because to understand where things are headed you need to know how…

This is the first in a two-part essay on the origins of the sovereign debt crisis. Here the emphasis is on Germany’s central role in the last century and a half of European history and in the formation of the euro

If E.U. leaders are smart, they will understand that the turmoil they fear from a Greek restructuring will be much worse if that default is a unilateral one forced by a population that has taken to the streets.

A comprehensive outline of the Irish situation and with a retrospective on the steps leading us to the brink.

When unemployment is high, immigrants are seen as a burden and the mood shifts toward the anti-immigration rhetoric we are hearing from Mr. Cameron. Economic nationalism is a force to be reckoned with. This anti-foreigner sentiment will…

We saw that Joseph Stiglitz proposes a new reserve currency to alleviate pressure on trade imbalances. Michael Pettis is now also proposing a similar move away from the U.S. dollar. In an FT Op-Ed, Michael wrote that every generation we…

I read a very good piece on the psychology of economic nationalism by SocGen 's Dylan Grice earlier today. Because of some relevant thoughts from a reader regarding austerity, I wanted to pass on my thoughts on what he wrote in the context…

The debt overhang in the developed world has lowered aggregate demand globally. As developed economies compete over a dwinding pie by moving toward a policy of economic nationalism, investment opportunities will dwindle. Bill Gross advises…

I was eavesdropping on a conversation about Credit Writedowns on another blog (Pragmatic Capitalism) and wanted to share some of my thoughts with you on the conversation. One commenter, Mattay said: Harrison is an MMTer. As I read him,…

by Michael Hudson Here’s the quandary that the U.S. economy is in: The Fed’s quantitative easing policy– creating more liquidity so that banks can lend more – aims at helping the economy “borrow its way out of debt.” But banks are not…