It’s been creepy to see economists and the financial media cheering the re-levering by American households as a sign that they economy is on the mend and consumers are regaining their will to shop. The number of Americans who are tapping into their 401 (k) accounts is proof that the financial health of ordinary Americans is far from robust.
Read more...On the danger that China’s overgrown shadow banking system poses to the economy, and the practical and political obstacles to curbing it.
Read more...By Hugh, who is a long-time commenter at Naked Capitalism. Originally published at Corrente. A complete archive of Hugh’s reports can be found here The Jobs Report in Brief This is a very schizophrenic jobs report. In the seasonally adjusted “official” data, the unemployment rate dropped an amazing four-tenths of a percent to 6.3% but […]
Read more...Wow, Obama is really losing it. He can’t even manage a good war scare any more.
Read more...Why “groaf” is the new “growth” and Naked Capitalism readers are duly skeptical of it, along with its young cousin, “jawbs”.
Read more...While you weren’t paying attention, ECB chief Mario Draghi walked back his “QE is imminent” talk.
Read more...The media understates how much the prosperity of the US middle class has fallen on a relative basis.
Read more...Randy Wray clears up some of the “bizarre” claims that have been made about Modern Monetary Theory
Read more...China’s increasing debt level has goosed the economy. What form might the hangover take?
Read more...A fresh look at historical data shows how the relationship between unemployment and wage growth changed radically starting in 1981.
Read more...How the Troika is overriding national constitutions and popular will to strip-mine Europe’s periphery countries on behalf of banks.
Read more...Yves here. This post is a devastating critique of current Fed policy. But Alford sets his stage carefully before delivering his conclusions, so don’t be deceived by the tone of the early sections.
Read more...The enormous number of people who work only part-time for economic reasons is one the tragedies of the unemployment crisis in this country. And that started before the financial crisis.
Read more...Michael Hudson gives an update on the West’s resource grab in the Ukraine
Read more...Mr. Market was not happy with today’s jobs report. While it was not that bad, the ADP report earlier in the week had led investors to hope for better details.
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