(via AFP) The head of the global banking lobby which handled the private debt write-off for Greece warned on Friday that if the country leaves…
By Marshall Auerback Nearly one Spaniard in four is unemployed, according to data released on Friday, as the country’s economic and financial predicament prompted a government minister to talk of a “crisis of enormous proportions”.The data from the National Statistics … Continue reading →
By Marshall AuerbackHere’s the draft of the supposed agreement to “sort out” the Greek debt problem once and for all. According to Bloomberg, here are the essentials: Greece’s 2012 GDP will shrink by as much as 5%.Greece is expected to return to growt…
We have learned nothing since 1999 except the Central State and Central Bank will intervene in the market to bend price and risk to serve the Status Quo.
If we learn nothing, then we deserve to lose. This is not a popular concept in America a…
The “big story” of the U.S. economy is that we have substituted expansion of debt for meaningful increases in productivity.
For the past 30 years, the U.S. economy has become increasingly dependent on explosive debt expansion for its “growth” rath…
While watching some Steve Keen interviews, I was struck by something. I have known for a long time that mainstream economists pay no attention what so ever to private sector debt levels. I never really dug into why. But Keen specifically touched on …
We have seen some statistically significant results from very wise stock market pundits where anyone would be foolish not to be cognizant of the results. These results are important, but not nearly as important as what is taking place in the macro …
http://www.jsmineset.com/
http://utahmonetarysummit.com/items/index/249
Excerpts:
Earlier this week I attended the Utah Monetary Summit in Salt Lake City, Utah. As you may know, the state of Utah passed a Legal Tender Act earlier this year authoriz…
The latest from the Comstock Boys…
The party is over. The major factors facing the economy and the market that we have been discussing in past comments (please see archives) are coming to a head as the reality of a post-credit crisis economy bec…
some excerpts from his Feb 2011 newsletter:
When a heavily indebted nation pursues the ZLB to avoid painful restructuring within its debt markets (household, corporate, and/or government debt), the ZLB facilitates a pursuit of aggressive Keynesianism…
