Deficits Do Matter, But Not the Way You Think
By L. Randall Wray, Professor of Economics at the University of Missouri-Kansas City, Research Director with the Center for Full Employment and Price Stability and Senior Research Scholar at The Levy...
View ArticleKrugman: We Need $8-10 Trillion Worth of Quantitative Easing
The interesting thing about this clip is that Paul Krugman is probably right: you need trillions of printed dollars to get the stimulative effect the Federal Reserve is looking for. Ambrose Evans...
View ArticleSince Plaza Accord dollar-yen has sunk 70% without decreasing US deficit with...
In regards to Paul Krugman’s argument’s on China in the video in the last post, I think this quote from David Rosenberg’s latest daily market commentary is spot on: Since 1985, dollar-yen has sunk...
View ArticleKrugman: China is ‘Really the Bad Guy’ in Currency War
The U.S. Senate will pass legislation geared to pressuring China to revalue its currency and the US is set to label China a currency manipulator. The view in Washington ahead of the mid-terms is that...
View ArticleKrugman, China and the role of finance
by Michael Hudson Here’s the quandary that the U.S. economy is in: The Fed’s quantitative easing policy– creating more liquidity so that banks can lend more – aims at helping the economy “borrow its...
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Cotton Hoarding in China Shows There is Serious Commodities Speculation
You have to watch this video to believe it. The speculation in the commodities market is well out of hand. Cotton futures are at a record high on speculation that demand in China will continue to...
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Thoughts on Austerity
Yesterday, Paul Krugman wrote: Portugal’s government has just fallen in a dispute over austerity proposals. Irish bond yields have topped 10 percent for the first time. And the British government has...
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Ben Bernanke’s Press Conference
Today marks the first time we are witnessing a regularly scheduled news conference by a Fed chairman in the Federal Reserve’s 98-year history. Most reactions to Ben Bernanke’s performance were...
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Greece: Last Exit To Nowhere?
By Edward Hugh “Some economists, myself included, look at Europe’s woes and have the feeling that we’ve seen this movie before, a decade ago on another continent — specifically, in Argentina” – Paul...
View ArticleKrugman on Modern Monetary Theory
Last summer I wrote a post clarifying some points that I have learned about Modern Monetary Theory. The genesis of the post was a gross mischaracterization of Modern Money Theory (MMT) by Paul Krugman...
View ArticleFor whatever reason
Paul Krugman has another piece up on MMT. I like this piece a lot more than the last one he wrote. I suggest you read it. Here’s the one passage I do find troubling, however: Let’s have a more or less...
View ArticlePaul Krugman Still Gets MMT Wrong
By L. Randall Wray On Monday, Paul Krugman tried yet again to spell-out where he disagrees with “modern money theory” (MMT)—the approach that I adopt. And, again, he gets it wrong. He continues to make...
View ArticlePaul Krugman on the global economy
Below is a clip from the World Affairs Council meeting in Oregon with Paul Krugman as keynote speaker. I believe this clip is from 29 Jan 2009. It runs a full 1 hour and 34 minutes. However, if you...
View ArticlePaul Krugman: Liquidity trap makes future ‘more or less speculation’
Will Hutton has a pretty good interview with Paul Krugman in the Guardian newspaper. The exchange is quite long, so it gives you a fairly broad understanding of Krugman’s view on the global economy...
View ArticleThe Great Depression II meme
Last night I wrote an article reminding you that downside risk remains in the global economy. While I have been singing a more bullish tuneregarding the prospect of a technical recovery in 2009, I am...
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Roubini: For unemployment "the worst is yet to come"
Nouriel Roubini, writing in the New York Daily News , said on Sunday that “unemployed Americans should hunker down for more job losses” given the likelihood of a job less recovery. This was as gloomy a...
View ArticleThe housing bubble: In Bernanke’s defense?
Federal Reserve Chairman Ben Bernanke recently defended the Federal Reserve’s low-interest rate monetary policy which preceded the housing bubble in the United States. Bernanke instead pointed to a...
View ArticleLinks: 2010-02-23 – Krugman, Doomsday Cycle, Eurozone and more
How Paul Krugman found politics : The New Yorker Morgan Stanley – Richard Berner – We Can’t Inflate Our Way Out Recession hits older blacks in what should be their prime | McClatchy Greece should try...
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European Credit Crisis: Germans Throwing Stones
Paul Krugman has it right when he says this: I hold no brief for weak financial regulation in America. But it’s a bad sign that Germans still think of this as a made-in-America crisis. The truth is...
View ArticleWhy Does Dennis Gartman Sound Like Paul Krugman?
Listen to Paul Krugman in the first video with Bloomberg and then listen to Dennis Gartman in the second. The two seem to be arguing the same point – that the G-8 austerity position of higher taxes and...
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