The Myth That the US is Rapidly Approaching Bankruptcy
Michael Hudson and Richard Wolff take apart widespread myths about Federal spending and debts.
Read more...Category Archives: Macroeconomic policy
Naked Capitalism’s Skunk Party Manifesto Finds a Home in the New Kentucky Party
The Skunk Party Manifesto explained how the best political system money can buy is great for its customers and lousy for the rest of us
Read more...The Rate Cuts Powell Dangled in Front of Markets May Slam into Inflationary Fiscal & Economic Policies of Whoever Is in the White House Next Year
Are both parties set to continue stimulative fiscal policy, leaving Powell or a successor to reapply the monetary policy brake?
Read more...Saving in Itself Is Merely Negative
Debunking yet another appealing-sounding but elite-serving idea, here the premise that savings is always good and more is better.
Read more...US Fed-Induced World Stagnation Deepens Debt Distress
US and Fed bad cooking has led to weak growth the world, and by urging poor countries to borrow at once-low rates, debt distress.
Read more...Michael Hudson: We Need a New Political Vocabulary
Yves here. Thank the persistent and very long running campaign to move the values of the US to the right for the hollowing out of the meaning of traditional political labels that Michael Hudson describes below. It can’t be said often enough that the change in the where the center was perceived to sit was […]
Read more...Status of US Dollar as Global Reserve Currency: Central Banks Diversify from USD-Assets to Other Currencies and to Gold
Long, slow erosion of the US dollar’s dominance. China’s renminbi keeps losing ground, many other currencies gain, as does gold
Read more...After the European Elections: Fiscal Policy is the Elephant in the Room
Fiscal pressures are set to intensify battles among shifting European leadership groups as to how much to spend and on what.
Read more...The Fed’s “Chicken Run”: Why Sticking with High Rates Will Crash the Economy
How the Fed is acting like James Dean in the famous “chicken run” auto race in Rebel Without a Cause.
Read more...Michael Hudson: US Cryptocurrency as an Offshore Banking Center
Yet another cryptocurrency scheme, here for its major use case, tax evasion. But for a good cause, the US dollar!
Read more...Global South Suffering Due to Powerful Nations’ Elite-Serving Policies
The World Bank projects the worst slowdown in over four decades in 2024. This is mainly due to Western powers’ contractionary policies
Read more...Trump Versus Biden: The Substantial Fall in Real Wages for Most Workers Under Biden
An important new paper contradicts Democratic pundits, showing that most workers lost in real wage terms under Biden
Read more...Consumers Regard the Cost of Money as Part of the Cost of Living
This column examines why consumer sentiment in the US remained depressed in 2023 despite low unemployment and falling inflation, and finds that increasing borrowing costs can explain much of this gap.
Read more...Oh Deary, Where Did My Rate Cuts Go? Fed’s Wait-and-See Now Entrenched? And Suddenly Lots of Talk About “Rate Hikes”
What Fed chair Powell said about rate hikes, no rate cuts, rate cuts, and the QT slowdown while getting rid of MBS entirely
Read more...James Galbraith: Industrial Policy Is a Good Idea, but So Far We Don’t Have One
Industrial policy, despite recent lip service, is out of favor because doing ambitious things isn’t lucrative enough for the right people.
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