The Shutdown Talks Are in Chaos
A lot of readers, when we’ve discussed the budget/shutdown/debt ceiling negotiations, have done the equivalent of declaring it all to be kabuki, that the fix is in. While I have no doubt that any resolution of this impasse is certain to make matters worse for what is left of the endangered species known as the ... Read more
Default Lines
There’s still no political agreement to avert a Treasury default and so the possibility, however remote, is inching closer. What are the risks? Well, the floor is wide open for discussion–no one’s really sure where we’re headed because we’re in uncharted waters when it comes to Treasury defaults. Sort of. Donald Marron at the Tax ... Read more
Overt Money Financing and Public Debt
Purpose and Concepts The purposes of this brief note are two-fold: first, to establish, by country, the extent to which public sector borrowing contributed to the rise in public debt over the period since 2008; and, second, to draw some policy inferences. The two indicative fiscal parameters used in this analysis are: Borrowing = general ... Read more
How America Builds Its Way Back to Balance
The following is an excerpt from The Reckoning: Debt, Democracy and the Future of American Power, with a forward by Dr. Nouriel Roubini, available in the United States on this week from Palgrave Macmillan and in Europe on 17 May. Moran, a former RGE vice president and geostrategy analyst, is now Director and Editor-in-Chief of ... Read more