The Bureau of Economic Analysis reported today that the growth rate of real GDP slowed to an annual rate of 2.6 percent in the fourth quarter of 2014. That is barely half of the 5 percent rate reported for the third quarter, but still a bit above the 2.4 percent average growth rate since the [...]
With Syriza in the driver’s seat, Greece now has some hope for the end to austerity imposed by Germany and the Troika. Here’s a good short piece by C. J. Polychroniou, a research associate and policy fellow at the Levy Economics Institute. As he explains, what Syriza wants is no more—and no less—radical than what [...]
It is no secret that the top priority of the new Greek government will be to negotiate a reduction in the country’s debt – as well as to broker softer terms on the austerity conditions forced by its creditors. Until as recently as the wee hours of Thursday, I thought that this would be unethical. Here is the [...]
The threat of a “real” demand-driven deflationary spiral in Europe has rattled markets. But is European deflation all bad or possibly benign?
Must ReadFinance & Markets
Recent economic data on wages, retail sales, and oil and other trade prices have severely undermined the blind confidence of equity markets that prevailed in 2014, and present market conditions are not likely to reverse themselves soon. 2014 was the battle of the cyclicalists vs. the secularists, in both markets and economic data, and that [...]
We have a plausible future where profits, information and political power accrue to a small group of technology-driven oligopolies, while the rest are reduced to commoditized micro-entrepreneurship (techno-serf) roles.