Labor Force Participation Rate Sensitivity - Calculated Risk http://t.co/CpxsBEhzYi
36 minutes ago
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Essential Viewing: Stephanie Kelton on Chris Hayes
From Hullaballoo: Heresy on Up With Chris by digby Up with Chris Hayes was just excellent this morning and I’m excerpting pieces of it below. I would encourage you to watch the whole thing, but the following segments that discuss the sequester and the budget wars are nearly heretical in their rejection of the normal [...]
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The Fiscal Cliff (Video)
Last week I mentioned my presentation, the Steinhardt Lecture at Lewis & Clark College in Oregon. The title was: “Fiscal Cliffs, Debt Limits, and Unsustainable Deficits: Can the US Really Run Out of Dollars?” Fiscal Cliffs, Debt Limits, and Unsustainable Deficits: Can the U.S. Really Run from The Resource Lab on Vimeo. Here is the video link. [...]
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Six “Facts” About Our Debt: Corrections to Robert Solow’s Op-Ed
In yesterday’s NYTimes, Nobel winner Robert Solow tackled the US debt debate, proclaiming that while it is a serious issue, many Americans are not aware of the facts. See here: http://www.nytimes.com/2013/02/28/opinion/our-debt-ourselves.html?_r=0 Solow is a “neoclassical synthesis” Keynesian, the type of Keynesian economics that used to be taught in the textbooks. He was also on the [...]
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The Economic Crisis: Causes, Consequences, and What’s Next
I’ll be joining Frank Partnoy and Robert Brenner at a conference at UCLA tomorrow afternoon. I gave a preview in an interview on KPFK’s Beneath the Surface with Suzi Weissman; you can listen to it here: http://archive.kpfk.org/index.php. It is the Friday Feb 22 show. Details of the conference are contained on this flyer: Partnoy Wray Brenner flyer 1 [...]
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Krugman is Right about Simpson-Bowles: The Buzzards Circle the Fiscal Cliff
In a powerful piece, Paul Krugman blasts Alan Simpson as an ignoramus when it comes to federal government budgets: http://krugman.blogs.nytimes.com/2013/02/21/alan-simpson-and-bernie-madoff/?smid=tw-share. He rightly wonders why anyone takes this nutter seriously: “Simpson is, demonstrably, grossly ignorant on precisely the subjects on which he is treated as a guru, not understanding the finances of Social Security, the truth [...]
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How To Teach Money: Presentation at UNAM
As I previously announced, a 2 day conference begins today at UNAM in Mexico City: http://www.economonitor.com/lrwray/2013/01/30/upcoming-conference-at-unam-in-mexico-city/ I’m giving 3 talks. I thought those interested in MMT might want to view the presentation slides. Here you go:
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Elizabeth Warren: Why are Banksters Too Big For Trial?
Here’s a great clip on Warren grilling “regulators” on seeking settlements rather than prosecuting banksters for crimes: http://www.upworthy.com/elizabeth-warren-asks-the-most-obvious-question-ever-and-stumps-a-bunch-of-bank?g=2. Note the way Tom Curry (his nameplate says “Honorable” but one might read some irony there)–the Comptroller of the Currency–squirm as he fields Senator Warren’s question: how many Wall Street banks have you brought to trial for crimes? [...]
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Yes Folks, Housing is Looking UP, For the One Percent Ownership Society
Back in Summer of 2005 I wrote a piece, “THE OWNERSHIP SOCIETY: Social Security Is Only the Beginning . . .” that examined President Bush’s promise to create a new society of owners. During the 2004 campaign, he proclaimed: “The more ownership there is in America, the more vitality there is in America, and the [...]
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Prospects for the State of the Union: More Risk-Taking, More Crime, and More Crises
I don’t know what President Obama is going to say in his State of the Union address. He’s been trying to “rally the troops”, to press Americans to nudge their elected representatives to govern rather than to simply throw roadblocks in the way. Yet, the President continues to come up short on concrete proposals. It [...]
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More News You Cannot Make Up: Donald Trump is NOT the Love Child of an Orangutan
Sorry for the distraction, but you know I just cannot resist news so bizarre as to be unbelievable. So here is yet another one. It turns out that The Donald has produced a birth certificate to prove that he’s not the love child of an orangutan. Who would’ve known? Now, I presume that most prominent [...]
