– by New Deal democrat The Senior Loan Officer Survey is a long leading indicator, telling us about credit conditions that typically turn worse a year or more before the economy turns down, and improve just at the economy is ready to turn up. The big drawback of this series is that the information is only reported Quarterly, and with a one a one month lag. As I indicated in my introductory note yesterday, data for Q1 was released yesterday....

She has a cockamamie scheme to boost the economy.

Trust Engineers, Not Economists?

Uncovering the Truth Behind Supply Curve

[unable to retrieve full-text content]In this work he totally demolishes the myth that money developed from a need to simplify barter transactions. Instead, money developed as a complement to credit/debt relationships ... The post Temples of Enterprise first appeared on Michael Hudson.

Uncovering Samuelson's Missing Theory

Inflation Is Scrambling Americans’ Perceptions of Middle-Class Life, businessinsider.com, Jennifer Sor Yes, we have inflation. It is a given. Inflation is scrambling the lives of middle-class Americans. Income is not keeping up with the costs of maintaining a Middle-Class Life. I have sat here in AZ watching this play out in the nation. In many cases we are fighting a supply chain shortage which is entirely controllable in the US. Similar happened...

Kevin Drum doesn’t believe Life is so bad. Kevin poses a number of reasons why things are actually pretty good. Think about it. We weathered a pandemic. For the first time government stepped in biggly and well beyond what was done in 2008 for people. Biden insured people who had no healthcare insurance pre-pandemic, provided subsidies for people while we stayed home, added additional subsidies for children, permanently expanded subsidies for...

Judge Merchan appears to be boxed in.  On the one hand, fining Trump $1,000 for violating the gag order is obviously not going to be effective.  On the other hand, sending Trump to jail would make him a martyr to some, and may not even be effective, since Trump would appeal any order sending him to the hoosegow.  What’s a trial judge to do? Well, one possibility is to ban Trump from Truth Social (or from social media generally).  Sure, Trump could...

April 19, 2024 ROBERT SKIDELSKY George Orwell’s great contribution to dystopian literature was not his depiction of the modern surveillance state, but rather his insight that if everyone used only state-approved language, surveillance would become redundant. The difference today is that Newspeak has emerged from the mechanisms of liberal democracy itself. LONDON – Language shapes our thinking and perception of the world and, consequently, what happens in it. That is why I worry less...