Heterodox
Credit Writedowns
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What the yield curve is signaling about the US economy
Today, we saw a nice pop in equities on the back of a dovish Fed and falling interest rates. Equities moved to new highs as a result. But, clearly, falling yields are a sign of economic distress that one might think would cause equity investors to run for cover. What gives? Here's my answer.The Fe...
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More negative signals, this time from the economy
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The convergence to zero trade is back
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The problem with Europe
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The Fed basically has to cut now
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Geopolitical confrontation and the breakdown of globalization
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The US economy is now on recession watch
Cullen Roche: Pragmatic Capitalism
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My View On: Student Debt Forgiveness
Bernie Sanders and Elizabeth Warren have proposed forgiving all student debt. Naturally, this is somewhat popular and garnering a lot of attention because free stuff is fun and having the government give out free stuff is also very controversial. Where do I sit on this issue? Well, it’s a complex one, but I’ll try to condense my thoughts here. The Student Loan Market – An Overview The student loan market is $1.6T spread out over 44MM people....
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Three Things I Think I Think – Libra Edition
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Three Things I Think I Think – Soccer Edition
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Three Charts I Think I’m Thinking About
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Three Things I Think I Think – Don’t Piss in my House
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Is the Bond Market Predicting Recession?
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Is Vanguard Better at Predicting Future Returns?
EconoSpeak
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Ali Velshi Interviews Arthur Laffer
Today I endured listening to Arthur Laffer lie serially to Ali Velshi today. Skip the first 36 minutes of this Youtube as the interview begins there. Never mind the praise for Laffer’s cheerleading for Trump. Laffer actually claimed that the FED’s low interest rates after the Great Recession began was the cause of the Great Recession. OK! But then he pivots and advocates we should have low interest rates now that Trump is President. I know –...
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Will Libra Destroy Cryptocurrenciees Or Vice Versa?
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Learning The Origin Of “Duality”
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The North Korea Food Shortage Deepens
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Robert J. Samuelson Goes Whole Hog Against Dems On Social Programs
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75 Years After The Longest Day
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CORE and Periphery in the Reform of Econ 101
Economics for Democratic and Open Societies
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The Fallacy of the Natural Rate of Interest and Zero Lower Bound Economics: Why Negative Interest Rates May not Remedy Keynesian Unemployment
This paper provides a critique of zero lower bound (ZLB) economics which has become the new orthodoxy for explaining stagnation. ZLB economics is an extension of pre-Keynesian economics which attributes macroeconomic dysfunction to rigidities and market imperfections. The ZLB is the latest rigidity in that pre-Keynesian tradition. The paper argues negative nominal interest rates, even ...
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What’s Wrong With Modern Money Theory (MMT): A Critical Primer
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Macroeconomics vs. Modern Money Theory: Some Unpleasant Keynesian Arithmetic
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Inequality and Stagnation by Policy Design: Mainstream Denialism and its Dangerous Political Consequences
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The Fracturing of Globalization: Implications of Economic Resentments and Geopolitical Contradictions
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Recovering Keynesian Phillips curve theory: hysteresis of ideas and the natural rate of unemployment
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Brazil is Falling Under an Evil Political Spell
Francis Coppola
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The Troubles of Kier
Yesterday, the outsourcer Kier Group announced a major restructuring. The announcement makes grim reading. The company will divest or close down three of its business lines, with the loss of 1,200 full-time equivalent (FTE) jobs, half of them by the end of this month. The dividend will be suspended for two years. Kier's share price fell on the news, closing down 17.43%.Remarkably, some analysts took the restructuring announcement as a...
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European banks and the global banking glut
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Dissecting the Eurozone’s (lack of) inflation
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The Abominable Laffer Curve
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Despair deaths and regional inequality
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Why targeting productivity is a bad idea
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An Experiment with Basic Income
John Quiggin
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A message from the recent past
That’s the headline from my latest piece in Inside Story, in Libra, Facebook’s newly announced cryptocurrency. Opening and closing paras below Facebook’s announcement that it is launching a #cryptocurrency called Libra raises two questions. Will Libra compete with the most famous cryptocurrency, #Bitcoin ? And what is a cryptocurrency anyway? …Ultimately, the crucial part of the name is “crypto.” What Bitcoin and Libra have in common is a...
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Radio appearances
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Book events this week
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Monday Message Board
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Backing yourself
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The big yellow grader, one last time
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John Quiggin 1970-01-01 00:00:00
Mosler Economics
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New home sales, Housing prices, Richmond Fed, Consumer confidence
Back down from already depressed levels even as mortgage rates fall: US New Home Sales Fall Unexpectedly Sales of new single-family houses in the US dropped 7.8% from the previous month to a seasonally adjusted annual rate of 626 thousand in May, compared to market expectations of a 1.9% increase, as purchases plunged in the West and Northeast. It was the lowest sales since December despite lower mortgage rates and solid job market. US...
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Chicago Fed, Dallas Fed, Germany IFO
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Electronics sales, Fed indicator, Bank lending, Power generation
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Philidepia Fed, Freight, Architecture index, Housing starts
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NT Manufacturing, Home builder index, Earnings
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Retail sales, US Industrial Production, China Industrial Production, Morgan Stanley business conditions index
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Fed recession models, Trade, Euro area industrial production
Naked Keynesianism
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Handbook of the History of Money and Currency
The Handbook (subscription required) has been edited by Stefano Battilossi, Youssef Cassis and Kazuhiko Yago. It has many interesting chapters. Barry Eichengreen writes on what determines that a currency is used as an international currency (or even as the predominant currency). While he follows conventional views in suggesting that role of money as a means of exchange and the importance of the country in international transactions, he does...
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Catching up and falling behind in historical perspective
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Argentina, Financial Times and the next default
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Exchange rates and income distribution in a surplus approach perspective
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Forget the Natural Rate, says the Head of the Minneapolis Fed
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On Karl Polanyi and the labor theory of value
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The New School for Social Research at 100: A view from the Econ. Dept.
Prime, Policy Research in Macroeconomics
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Of vaulting ambition, Macbeth, and what GATT Article 24 actually says
Macbeth:I have no spurTo prick the sides of my intent, but onlyVaulting ambition, which o'erleaps itself,And falls on th'other. . . .Boris Johnson is a moral (or is it amoral?) coward, dispenser of racist remarks, teller of untruths, and general political fantasist. Driven by ambition and lust for power, he appears to have no principles to guide him save expediency and openness to self-serving opportunity. As to those screams in the middle...
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Thus Spoke the Bond Market
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International coordination saved the finance sector, but not the world
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The metaphors of economics and austerity
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How to transform the EU – and build solidarity between its members
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Economic Guidelines for a better European Union
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TV discussion “Eurozone Future: Is the eurozone really on the brink?”
Progressive Economics Forum
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Ten things to know about this year’s Alberta Alternative Budget
Posted by Nick Falvo under aboriginal peoples, Alberta, budgets, Child Care, demographics, early learning, economic growth, education, employment, employment standards, fiscal policy, health care, homeless, housing, HST, income distribution, income support, Indigenous people, inequality, labour market, macroeconomics, minimum wage, NDP, population aging, post-secondary education, poverty, privatization, progressive economic strategies, public...
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MEDIA RELEASE: Alberta should increase social spending; cuts are not the way to go
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The Economic Pay-Off from Public Education
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Plausible Socialism
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Homelessness, harm reduction and Housing First
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What Impact will the 2019 Federal Budget have on Canada’s Housing Market?
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Ontario Electricity VII – Committee Testimony
Robert Skidelsky
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From Versailles to the Euro
This month marks the centenary of the Treaty of Versailles, one of the agreements that brought World War I to a close. In a sense, the tables have turned. Whereas the treaty imposed huge reparations on Germany, today’s Germany has taken the lead in imposing a large debt obligation on its fellow eurozone member Greece. Although the creditor-debtor cards have been reshuffled since 1919, the game remains the same. Creditors want their pound of...
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Has Austerity Been Vindicated?
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The Good Life After Work
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No Choice and No Exit for the UK
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Check back in a few minutes
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The AI Road to Serfdom?
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Rhymes from Central Europe
Yanis Varoufakis: Thoughts for the Post-2008 World
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Συνέντευξη με τον Νίκο Χατζηνικολάου – REAL FM
[embedded content]
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Eφ’ όλης της ύλης συνέντευξη με τον Νίκο Ευαγγελάτο στο Newsit
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ΜΙΑ ΑΠΑΝΤΗΣΗ ΣΤΟΝ ΡΙΖΟΣΠΑΣΤΗ
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Η πλήρης αποδόμηση του Γκαιμπελσικού ψέμματος περί “κόστους Βαρουφάκη” σε εννέα ερωτο-απαντήσεις
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Εξωτερική πολιτική και υδρογονάνθρακες – Συνέντευξη στο ONE
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Το ΜέΡΑ25 για την ένταση στα ελληνοτουρκικά, τις εξορύξεις και τον νέο ιμπεριαλισμό Τραμπ-Νετανιάχου
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Το ΜέΡΑ25 για ελληνοτουρκικά και εξορύξεις – Συνέντευξη με τον Γιώργο Σαχίνη, Ράδιο 98.4
Multiplier Effect
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Remembering Nina Shapiro
Jan Kregel | March 15, 2019 We are grieved to announce that Nina Shapiro, Professor of Economics Emeritus at St. Peter’s College, passed away on March 6. Nina was one of the first Levy Institute Visiting Scholars and a major contributor to the field of post-Keynesian economics. She passed away last week at the age of 71 from complications due to cancer. Nina was best known for her work on the...
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Big Guns Shooting Holes in the Sky
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Join Us for the 28th Annual Hyman P. Minsky Conference
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This Time Is Different: Wray on Modern Monetary Theory
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Bad Faith and the US Census
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A Better Way to Think about the “Twin Deficits”
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On Modern Monetary Theory and Some Odd Twists and Turns in the Evolution of Macroeconomics
Azizonomics
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Bitcoin Is Failing As Money—But Bitcoin Cash Isn’t
Money has three principal functions: as a medium of exchange, as a store of value, and as a unit of account. Secondary attributes that have aided the adoption of various forms of money include interestingness (“Ooh! Look how shiny that gold is!”), uniform divisibility, portability, resistance to counterfeit, and imposeability. That last one is important, because it is what makes state-backed fiat currency the dominant form of money in the...
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Don’t Tolerate The Trumpists
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Yellen: “There Will Be No New Crisis In My Lifetime”
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Protected Blog › Log in
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Trump’s Awful Tariff Plans Will Hurt America
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Immigration Makes Us More Prosperous
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Trump’s Election Win Shows That The Bank Bailouts And Quantitative Easing Have Failed
Multiplier Effect
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Remembering Nina Shapiro
Jan Kregel | March 15, 2019 We are grieved to announce that Nina Shapiro, Professor of Economics Emeritus at St. Peter’s College, passed away on March 6. Nina was one of the first Levy Institute Visiting Scholars and a major contributor to the field of post-Keynesian economics. She passed away last week at the age of 71 from complications due to cancer. Nina was best known for her work on the...
Read more » -
Big Guns Shooting Holes in the Sky
-
Join Us for the 28th Annual Hyman P. Minsky Conference
-
This Time Is Different: Wray on Modern Monetary Theory
-
Bad Faith and the US Census
-
A Better Way to Think about the “Twin Deficits”
-
On Modern Monetary Theory and Some Odd Twists and Turns in the Evolution of Macroeconomics
Prime, Policy Research in Macroeconomics
-
Of vaulting ambition, Macbeth, and what GATT Article 24 actually says
Macbeth:I have no spurTo prick the sides of my intent, but onlyVaulting ambition, which o'erleaps itself,And falls on th'other. . . .Boris Johnson is a moral (or is it amoral?) coward, dispenser of racist remarks, teller of untruths, and general political fantasist. Driven by ambition and lust for power, he appears to have no principles to guide him save expediency and openness to self-serving opportunity. As to those screams in the middle...
Read more » -
Thus Spoke the Bond Market
-
International coordination saved the finance sector, but not the world
-
The metaphors of economics and austerity
-
How to transform the EU – and build solidarity between its members
-
Economic Guidelines for a better European Union
-
TV discussion “Eurozone Future: Is the eurozone really on the brink?”
Prime, Policy Research in Macroeconomics
-
Of vaulting ambition, Macbeth, and what GATT Article 24 actually says
Macbeth:I have no spurTo prick the sides of my intent, but onlyVaulting ambition, which o'erleaps itself,And falls on th'other. . . .Boris Johnson is a moral (or is it amoral?) coward, dispenser of racist remarks, teller of untruths, and general political fantasist. Driven by ambition and lust for power, he appears to have no principles to guide him save expediency and openness to self-serving opportunity. As to those screams in the middle...
Read more » -
Thus Spoke the Bond Market
-
International coordination saved the finance sector, but not the world
-
The metaphors of economics and austerity
-
How to transform the EU – and build solidarity between its members
-
Economic Guidelines for a better European Union
-
TV discussion “Eurozone Future: Is the eurozone really on the brink?”
Yanis Varoufakis: Thoughts for the Post-2008 World
-
Συνέντευξη με τον Νίκο Χατζηνικολάου – REAL FM
[embedded content]
Read more » -
Eφ’ όλης της ύλης συνέντευξη με τον Νίκο Ευαγγελάτο στο Newsit
-
ΜΙΑ ΑΠΑΝΤΗΣΗ ΣΤΟΝ ΡΙΖΟΣΠΑΣΤΗ
-
Η πλήρης αποδόμηση του Γκαιμπελσικού ψέμματος περί “κόστους Βαρουφάκη” σε εννέα ερωτο-απαντήσεις
-
Εξωτερική πολιτική και υδρογονάνθρακες – Συνέντευξη στο ONE
-
Το ΜέΡΑ25 για την ένταση στα ελληνοτουρκικά, τις εξορύξεις και τον νέο ιμπεριαλισμό Τραμπ-Νετανιάχου
-
Το ΜέΡΑ25 για ελληνοτουρκικά και εξορύξεις – Συνέντευξη με τον Γιώργο Σαχίνη, Ράδιο 98.4
Mosler Economics
-
New home sales, Housing prices, Richmond Fed, Consumer confidence
Back down from already depressed levels even as mortgage rates fall: US New Home Sales Fall Unexpectedly Sales of new single-family houses in the US dropped 7.8% from the previous month to a seasonally adjusted annual rate of 626 thousand in May, compared to market expectations of a 1.9% increase, as purchases plunged in the West and Northeast. It was the lowest sales since December despite lower mortgage rates and solid job market. US...
Read more » -
Chicago Fed, Dallas Fed, Germany IFO
-
Electronics sales, Fed indicator, Bank lending, Power generation
-
Philidepia Fed, Freight, Architecture index, Housing starts
-
NT Manufacturing, Home builder index, Earnings
-
Retail sales, US Industrial Production, China Industrial Production, Morgan Stanley business conditions index
-
Fed recession models, Trade, Euro area industrial production
Robert Skidelsky
-
From Versailles to the Euro
This month marks the centenary of the Treaty of Versailles, one of the agreements that brought World War I to a close. In a sense, the tables have turned. Whereas the treaty imposed huge reparations on Germany, today’s Germany has taken the lead in imposing a large debt obligation on its fellow eurozone member Greece. Although the creditor-debtor cards have been reshuffled since 1919, the game remains the same. Creditors want their pound of...
Read more » -
Has Austerity Been Vindicated?
-
The Good Life After Work
-
No Choice and No Exit for the UK
-
Check back in a few minutes
-
The AI Road to Serfdom?
-
Rhymes from Central Europe
Multiplier Effect
-
Remembering Nina Shapiro
Jan Kregel | March 15, 2019 We are grieved to announce that Nina Shapiro, Professor of Economics Emeritus at St. Peter’s College, passed away on March 6. Nina was one of the first Levy Institute Visiting Scholars and a major contributor to the field of post-Keynesian economics. She passed away last week at the age of 71 from complications due to cancer. Nina was best known for her work on the...
Read more » -
Big Guns Shooting Holes in the Sky
-
Join Us for the 28th Annual Hyman P. Minsky Conference
-
This Time Is Different: Wray on Modern Monetary Theory
-
Bad Faith and the US Census
-
A Better Way to Think about the “Twin Deficits”
-
On Modern Monetary Theory and Some Odd Twists and Turns in the Evolution of Macroeconomics
Azizonomics
-
Bitcoin Is Failing As Money—But Bitcoin Cash Isn’t
Money has three principal functions: as a medium of exchange, as a store of value, and as a unit of account. Secondary attributes that have aided the adoption of various forms of money include interestingness (“Ooh! Look how shiny that gold is!”), uniform divisibility, portability, resistance to counterfeit, and imposeability. That last one is important, because it is what makes state-backed fiat currency the dominant form of money in the...
Read more » -
Don’t Tolerate The Trumpists
-
Yellen: “There Will Be No New Crisis In My Lifetime”
-
Protected Blog › Log in
-
Trump’s Awful Tariff Plans Will Hurt America
-
Immigration Makes Us More Prosperous
-
Trump’s Election Win Shows That The Bank Bailouts And Quantitative Easing Have Failed
John Quiggin
-
A message from the recent past
That’s the headline from my latest piece in Inside Story, in Libra, Facebook’s newly announced cryptocurrency. Opening and closing paras below Facebook’s announcement that it is launching a #cryptocurrency called Libra raises two questions. Will Libra compete with the most famous cryptocurrency, #Bitcoin ? And what is a cryptocurrency anyway? …Ultimately, the crucial part of the name is “crypto.” What Bitcoin and Libra have in common is a...
Read more » -
Radio appearances
-
Book events this week
-
Monday Message Board
-
Backing yourself
-
The big yellow grader, one last time
-
John Quiggin 1970-01-01 00:00:00