The big question in the case of Argentina, as always is when it will explode. If the current developments are an indicator of anything, it should be sooner rather than later. Note that the fundamental problems regarding the possible crisis and default are associated to the external debt in dollars (one has to repeat this all the time). It does not mean that there weren't other problems with the Argentine economy, but the domestic issues do NOT lead to a default (yes, that means the fiscal...

by Tom Walker Econospeak Book proposal: Marx’s Fetters and the Realm of Freedom: a remedial reading — part 2.1 Karl Marx’s preface to A Contribution to the Critique of Political Economy contains the best-known description of his theory of history. At some point contradiction between the relations of production and the forces of production become fetters on the latter, ushering in a period of social revolution. The traditional interpretation...

Four Climate and Decarbonization Commentaries by Professor Joel Eissenberg A collection of Joel Eissenberg’s posts. Read only. 1. Geoengineering and the global climate crisis – Angry Bear Global heating continues unabated. While decarbonizing our energy sources is certainly important, it is too late to prevent global disaster.  2. Why do we need carbon capture? – Angry Bear Yesterday, I posted about geoengineering the oceans as a promising...

I lived in Michigan for twenty-something years in the district Mike was our House Representative (8th Congressional District). Mike was mediocre at best and followed the Republican line. Republicans controlled the House and the Senate and the Governorship the majority of the time. Michigan lost approximately 800,000 jobs during that time as well as industry. Since Mike is running for Senator, I will be portraying his past as a Congressional...

Some big changes in conditions are ahead.

from Dean Baker Leading media outlets like The New York Times, The Atlantic, and The New Yorker have about as much concern for intellectual consistency as TikTok videos. In very serious and somber tones they will warn the rest of us about a major problem and then in the next issue, or the next article, present a story that is 180 degrees at odds without ever realizing the contradiction. My favorite example of this “Which way is up?” problem is the simultaneous concern expressed that AI...

Back to my points (AB), we have survived a pandemic, provided for the welfare of the citizenry, and the nation is on its way to better times. The only sticking point being the 2017 tax cut which is leaving the nation with another reoccurring deficit. How quick the influential 1-percenters were to move away from Biden as this was on his list of things to fix. Will a President Kamala make it a priority too? ~~~~~~~~ Back in the 1990s, when...

 – by New Deal democrat Now that we have new as well as existing home sales, let’s take a little more extended look at the housing sector. Let me start by reiterating the big picture: mortgage rates lead sales, which in turn lead prices. Further, new home sales are the most leading of all housing metrics, but they are noisy and heavily revised. The much less noisy single family permits lag them slightly. Finally, we are looking for relative...

401(k)s are a joke for the working class. The common belief is that 401(k)s are a solid retirement plan for everyone. But that's a myth. A trivial amount is owned by the working class, while the rich hold the majority. According to the Economic Policy Institute, the top 10% of earners own 84% of all stocks. So, when share prices increase, it's the wealthy who benefit, not the average worker. This isn't just a minor issue. It's a systemic problem. America remains a capitalist...

After going through a generation (baby-boomers) of supporting equal rights for “all” which includes women (later in the effort), Corporate America (in this case John Deere) is reversing its course. The stance is a “whatever will be, will be” and we will not make an effort to level the playing field. I was working on a cable scaffold about 20 stories up. A 20th floor window opened up and another worker with his canvas bag of tools stepped on the...