Michael Hudson: Ukraine’s “Operation Vulture” and Labor Protests
Hudson’s so-called “Operation Vulture,” the strip-mining of what little is left of a functioning economy in Ukraine, comes straight out of the neoliberal playbook.
Read more...Category Archives: Economic fundamentals
The Fed’s Dereliction of Duty and False Capital Flows Morality
The Fed disavows responsibility for the way US interest rate policy sends money sloshing around the world. It’s a huge mistake intellectually and politically.
Read more...Corruptionomics in Italy
As reader Li, an international road warrior, says, “America is getting to be just like Italy, except without the attractive men.”
Read more...The Shafting, Um, Sharing Economy
The Wall Street Journal, of all places, describes the dark economic underbelly of Uber and other Orwellianly-named “sharing” services.
Read more...A Parallel Currency for Greece: Part II
Yves here. I’m quite interested in reader reactions to this scheme. My big reservation is that the amount of the scrip devised by the authors, the TCC, has to be limited to the an amount of discount of future tax payments that is deemed to be credible. Given that Bill Mitchell has estimated that Greece […]
Read more...Wolf Richter: Atlanta Fed ‘Sticky CPI’ Soars, Hottest Inflation Since July 2008
A jump in “sticky CPI” suggests the Fed may be close to getting the data excuses it needs to raise interest rates.
Read more...IMF Paper Finds That Too Much Finance is Bad for Growth
A new IMF paper strikes another blow against the idea that Big Finance is good for you.
Read more...Greece Cornered as IMF and ECB Refuse to Relent
A flurry of stories this weekend confirms that Greece and its creditors remain hopelessly at odds. The inertial path is to a Greek default
Read more...Bill Black: Krugman is Half Right
Paul Krugman’s latest column fingers some valid targets but lets way too many other equally deserving ones off.
Read more...“Why Syriza Will Blink”
Anatole Kaletsky has a cognent, forcefully argued new article at the Project Syndicate website, Why Syriza Will Blink, which independently comes to the conclusion we’ve reached, that the winning strategy for the creditors is to keep Greece in the sweatbox and use worsening economic and social conditions in Greece to crush domestic support for Syriza. Kaletsky goes further than we have, arguing that this is the course the Troika is taking, and the new coalition should have anticipated this as a likely strategy, since it’s the same one they used successfully against Cyprus two years ago.
Read more...Wolf Richter: Why the Heck Is the Trucking Business Slowing Down?
Trucking activity is a long-standing leading indicator of economic activity. It’s been flashing red in recent months.
Read more...Is the Push for Greater European Integration a Mistake?
The assumption among policy elites that more European integration will heal the union’s ills may be misguided.
Read more...Wolf Richter: How Soaring Housing Costs Impoverish a Whole Generation and Maul the Real Economy
Housing costs are beyond the reach of many middle class earners. And while that is no news, housing has been the engine of past recoveries. So inflated home prices are part of why the economy will stay mired in low growth.
Read more...Greece Authorizes €750 Million Payment to IMF Despite Failing to Get Concession Sought [Updated]
Today, Greece blinked. But one unconfirmed report suggests the government got some eyewash.
Read more...Greece Finally Threatens Default as Deal with Creditors Remains Remote
A Greek default looms, but what does that mean for Greece and its creditors?
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