Private consumption helps Germany to meager growth in Q1 http://t.co/gIqGif2AAu
24 minutes ago
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GLF Odds and Ends
1. Earlier this week I mentioned the fantastic interview by my colleague, Stephanie Kelton, that blasted Pete Peterson. Another colleague, Bill Black, has posted up a column that in his famous “take no prisoners” style lambasts the Dems for lining up with Peterson’s billions. It is must reading. See here: http://neweconomicperspectives.org/2012/10/the-great-betrayal-and-the-cynicism-of-calling-it-a-grand-bargain.html 2. For those of [...]
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ANTIDOTES TO PETE PETERSON’S LIES
We’re nearing election day and unfortunately we’ve got no choice. Whoever wins the election, Pete Peterson wins. He’s bought off both the Democrats and the Republicans. We’re going to get fiscal austerity no matter what. Both parties promise to cut social benefits, punch more holes in the safety net, and let Wall Street continue to [...]
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Cross Border Lending and Imbalances in Euroland
Sorry for delay on posts—am attending a conference in Euroland and I received no contributions this week in response to my challenge to Trolls. (I’m beginning to wonder if Trolls have anything to say, beyond sniping and name-calling?) Yesterday one presenter at this conference provided a lot of interesting data on cross border lending by [...]
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TROLL FRIDAY: Guest Post on the Environmental Consequences of Economic Development
This is the first in what I hope will be a series of guest posts. While some have complained about the proposed use of the word Troll as the theme, I’ve decided to use it. Look, it’s Friday and anyone can be a Troll today. Thumb your nose—at MMT, at Progressives, at Authority, at—well—at whatever [...]
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MMT, ARGENTINA, AND VIEWS ON INFLATION
(Part 1?) On the surface, the data from Argentina look awfully good—among the top performers in the world over the past decade. And she’s apparently done it without a run-up of either private sector or government sector debt. In other words, Argentineans have bucked the trend among developed countries, that saw (mostly) tepid growth fueled [...]
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TAKE THE TROLL CHALLENGE!
I can understand that the Trolls are feeling somewhat under the microscope. So here’s a peace offering. Give it your best shot. Present a coherent argument to justify your position that Argentina has the World’s Worst Banker. Heck, I’ll welcome any coherent argument on any topic of your choosing. If that sets the bar too [...]
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THE WORLD’S WORST CENTRAL BANKER
OK, I know you think this is yet another critical column on Chairman Ben Bernanke. Nay, I just returned from a conference held by the Central Bank of Argentina—“Central Banks, Financial Systems and Economic Development” held in Buenos Aires on October 1st and 2nd. Yours truly gave a talk on Modern Money—and the powerpoint will [...]
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Here’s the Most Shocking Statement in the Mother Jones Video
By now you’ve all watched Mitt Romney’s performance in the cozy gathering of fellow fat cat conservatives. Most people have focused on his candid statements about his views on the bottom half of the American population: he simply can’t be bothered with those deadbeats. I’m not going into that now here, as I’m writing on [...]
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Crony Capitalism, American Style
I loved the irony in the following headline from the NYTimes: Scandal Poses a Riddle: Will This Nation Ever Be Able to Tackle Corruption? A brazen brand of crony capitalism has created huge fortunes for a few, at the expense of the nation as a whole… (link: http://www.nytimes.com/2012/09/16/world/asia/scandal-bares-corruption-hampering-indias-growth.html?nl=todaysheadlines&emc=tha22_20120916) The kicker was that they were referring [...]
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How Does a Sovereign Currency Work? (Presentation) And Welcome to OWS Year 2 (Upcoming Call-in)
Sorry for the relative silence here at GLF–I’ve been traveling. This past Tuesday I gave a presentation at Columbia University, which is running a great series of talks, many of them presenting the Modern Money approach. These talks are streamed and eventually videos of the talks will be posted. You can sign-up for free! (Sorry [...]
