“Tsipras Has Just Destroyed Greece”
Tsipras has managed to deliver to the neoliberals a victory more complete than they could ever have engineered on their own.
Read more...Category Archives: Economic fundamentals
Wolf Richter: Microsoft Tallies the True Costs of the M&A Boom: Layoffs, Write-Offs, Shut-Downs, and Economic Decline
Microsoft illustrates the real-world fallout of letting corporate executives, either out of desperation or out of finding deal making more fun than the grind of making businesses perform better, follow the siren song of M&A mavens.
Read more...Grexit: Your Humble Guest Writer Talks to YSI INET
Nathan Tankus talks to YSI INET about a Grexit and Greece
Read more...Why Growth in Finance is a Drag on the Real Economy
New evidence shows that when the financial sector grows more quickly, productivity tends to grow disproportionately slower in industries with either lower asset tangibility or in industries with higher research and development intensity. It turns out that financial booms are not, in general, growth-enhancing.
Read more...Greece Told to Submit Proposal By Thursday, Complete Deal By Sunday, or ECB Shoots Its Banks and Forces Grexit (Updated: Greece Requests Three Year Bailout)
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...Chinese Stock Market Rout Continues; Trading Halted in Over Half of Listed Stocks
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 Recessions Crush Certain Geographic Areas: Puerto Rico as a Case Study.
How US policy neglect helped created Puerto Rico’s lousy economy.
Read more...GREECE’D: We Voted ‘No’ to Slavery, but ‘Yes’ to Our Chains
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 Rejects a Grexit
Why the Greek government and Greek citizens recognize that a Grexit is a terrible idea for them.
Read more...Old Economic Thinking is the Problem, Says BIS
The BIS shellacks Bernanke’s savings glut hypothesis and stresses that financial fragility is still a big risk.
Read more...The Washington Consensus and Long-Term Austerity in Latin America
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...Tsipras Accepts Most Creditor Terms as Merkel Insists on Referendum
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...My Big Fat Greek Bank Black Hole: No Deposit Insurance
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...The Standard Definition of Money is in Error
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...Obergefell v. Hodges, Identity, and Dignity
Does the logic of Obergefell apply to the dignity of labor?
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