The latest data from the Bureau of Economic Analysis show that US GDP grew at a 4.2 percent annual rate in the second quarter of 2014, even more strongly than previously reported. Corporate profits showed the beginnings of a rebound from their winter slump. Although they remain short of the all-time highs reached over the [...]
There is still time to register for our upcoming Post Keynesian conference at the University of Missouri-Kansas City. Unfortunately, the program is full so we cannot accept paper proposals. However, there is still space for participants. The registration is cheap, and includes all dinners and special events, some of which are listed below. For more [...]
After half a century of isolation, Myanmar’s seeks to sustain its reform momentum. It is a challenging balancing act amidst Chinese rebalancing and America’s pivot to Southeast Asia. As U.S. Secretary of State John Kerry arrived in the ASEAN Regional Forum in Naypyitaw, he wanted the “people of Myanmar to know that they have the [...]
Iraq, Ukraine and other geostrategic hotspots.
NEW YORK – The escalating conflict in Ukraine between the Western-backed government and Russian-backed separatists has focused attention on a fundamental question: What are the Kremlin’s long-term objectives? Though Russian President Vladimir Putin’s immediate goal may have been limited to regaining control of Crimea and retaining some influence in Ukrainian affairs, his longer-term ambition is [...]
Because of rapidly approaching debt constraints, China cannot continue what I characterize as 'investment overshooting' economic polices for much longer (perhaps three or four years at most)...The longer this kind of growth continues, the greater the risk that China reaches debt capacity constraints, in which case the country faces a chaotic economic adjustment.