The New York Times’ coverage of the eurozone crisis remains execrable. Sometimes, however, it is so bad that it achieves brilliant, albeit unintentional self-parody.
The troika rages repeatedly about what it claims is Greece’s excessive debt. The troika is shocked that extending more debt (rather than aid) to a nation it claims is in disaster because of its excessive debt levels has not transformed Greece into a neoclassical paradise.
Economics is the only field that purports to be a science that has gotten worse for decades, which actively makes the world worse in its supposed area of expertise, and is proud of that.
There’s something invigorating about people freaking out about modern monetary theory (MMT). They treat MMT as akin to the Ark of the Covenant in the first Indiana Jones movie. They are petrified that knowledge of the financial equivalent of the “holy of holies” will be released to normal people
The WSJ gem I ran across explains so much about what is wrong about economists and the Wall Street Journal.
There is an excellent indicator that Senator Warren’s successful effort to block the appointment of Antonio Weiss, an Obama Wall Street bundler, to a senior Treasury position while merely a skirmish was an important accomplishment.
Bill Black appears on the Real News Network and questions the authenticity of the coverage in the NYT and WSJ about the impact of austerity measures in Greece.
If one wishes to know why Germany’s financial elite embraces vicious economic assaults on their fellow Europeans of the periphery via the economic malpractice of austerity it is essential to consider not only that malpractice, but also the moral rot at the core of the German financial elite.
I’ve written recently about the embarrassing nature of the New York Times’ coverage of Greece (and the eurozone more generally), so it is time to describe the even more appalling coverage by …
The most recent crisis was driven by the three most destructive epidemics of financial looting in history. The three fraud epidemics hyper-inflated the financial bubble and caused the enormous losses that led to the financial crisis and the Great Recessions in the U.S. and in Europe.