Greece has been given a maximum of five days to come up with a proposal acceptable to its lenders. And “acceptable” would be more stringent than if it had agreed to the memorandum when Syriza assumed office in January
Read more...The Chinese stock market meltdown is accelerating despite government intervention and is blowing back to commodities markets, including copper and oil, which are trading down based on concern that the stock market plunge is a harbinger of even more economic weakness. And the decline may represent the beginning of the end of the faith in China’s command and control economy.
Read more...How US policy neglect helped created Puerto Rico’s lousy economy.
Read more...Greek journalist Michael Nevradakis and US investigative journalist Greg Palast have a different take on the Greek ‘No’ vote against Europe’s cruel austerity demands.
Read more...Why the Greek government and Greek citizens recognize that a Grexit is a terrible idea for them.
Read more...The BIS shellacks Bernanke’s savings glut hypothesis and stresses that financial fragility is still a big risk.
Read more...Most Latin American countries—including those, like Chile and Brazil, where democratically elected leftist governments were overthrown in the 1960s and 1970s. reversed course to adopt “neoliberal” economic policies. How well did that work?
Read more...Post-bailout expiration dynamics are likely to produce even worse outcomes for Greece than it had on offer from the creditors last month.
Read more...It’s hard to find an official who is comporting himself very well in the wake of the Tsipras surprise announcement of a referendum on July 5 for a then-defunct bailout offer.
Read more...Yves here. This post is elegant in the way it challenges the standard (sloppy) definitions of money. Even if you don’t agree, it will force you to think and articulate why you don’t agree (hopefully in a rigorous manner).
Read more...Does the logic of Obergefell apply to the dignity of labor?
Read more...The ECB has decided to lower the boom on Greece.
Read more...Greece’s creditors made a remarkably harsh proposal after the ruling coalition crossed some of its red lines. Is this a plot to break the government?
Read more...Why the bogus idea that managers should focus on “maximizing shareholder value” is driving the American IT industry into the ditch.
Read more...Why structural reforms will not ward off deflation in Europe.
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