Despite the alarming results of the European elections last week, Angela Merkel remained unflinching. That is a cause for concern. European politicians believe the solution to voter ire is better messaging, as opposed to a change in policy.
Read more...Yves here. This post addresses an important but oft-neglected topic: that of the stealth subsidies to the rich and connected that take place via economic development projects.
Read more...Spain’s conservative government, eager to change the media’s emphasis on its repudiation in recent EU elections, has launched a media campaign stressing its adoption of an aggressive “stimulus” program. But once you get past the hype, this new program is the same old failed austerity snake oil.
Read more...The US press and newscasts make it appear that Europeans have voted against poor immigrants and foreigners. What they voted against was the super-rich, the oligarchy.
Read more...Over the last year, some deep truths about oil and the oil industry have begun to bubble to the surface. Not necessarily that they were ever hard to see, but they were easy to obscure and maybe more importantly, without too much effort, ignore. No longer.
Read more...Wall Street earnings are running on hype, momentum, and earnings expectations gamesmanship. Investors beware!
Read more...One of the side effects of QE is that housing prices and sales levels for the top 1% in most markets are strong, while activity in the rest of the market is falling.
Read more...The West needs to curb its enthusiasm over the recent elections in the Ukraine. Gazprom is tightening the energy screws next week.
Read more...How the Vietnam War helped usher in neoliberalism, financialization of the economy, and the use of military spending as stealth stimulus.
Read more...The US economy, and by extension the world economy, is desperately waiting for the spring escape velocity to finally kick in. But the latest world trade statistics say it’s not happening.
Read more...Yves here. If you live in an advanced economy, and are at least middle income, you probably don’t give much thought to the availability of food. Expect that to change in the coming years. Agribusiness is a major driver of food insecurity. Successful experiments show that relocalization of food production can be an effective remedy.
Read more...Student loans are a millstone that is crushing college educated young adults, and with them, key parts of the economy.
Read more...On the economic and political origins of America’s stealth imperialism and military Keynesianism, as opposed to Keynes’ original version.
Read more...Russia and China, along with other developing economies, are exploring ways to create an Eurasian alliance to go toe-to-toe with the US economic hegemony.
Read more...Thomas Piketty’s views on inflation and interest rates are decidedly un-Keynesian and wrong to boot.
Read more...