Brief visit to Argentina to visit my dad. Some brief reflections here. At any rate, it was perfectly timed with the news of the collapse of exports associated to the draught, which will lead to a decline in export revenues of the order of somewhere between 15 to 20 billion dollars. A problem, since Argentina already doesn’t have reserves and dollars are tightly controlled. This came with the news that the IMF had eased the international reserve targets, which were somewhat hard to reach even...

Video recording of the talk on The Greek Saga: Competing Explanations of the Greek Crisis by Stavros Mavroudeas at NYU (24/3/2023: https://nyu.zoom.us/rec/play/2GHwJC-FSrsf7nmaHjTdTaAczfWtWS0ri3LMbY7mmP51KeBeeQSV1woJ7oHMZrXDiYzsJVG4VmKTM_5K.ekQ-W6AmRv6dcA7O?continueMode=true&_x_zm_rtaid=53eI4PcRTC6y8DFQ97VYhw.1679665946920.11ab3dbc8b14c6132f01bcf9ab31a3a7&_x_zm_rhtaid=118 [embedded content] AdvertisementΡυθμίσεις απορρήτου

The Greek Saga: Competing Explanations of the Greek Crisis A Lecture by Professor Stavros Mavroudeas Friday, March 24, 10:00-11:15 am EST This is the third speaker event of a three-part series on Political Economy. Professor Mavroudeas, is a renowned economist in the field of Political Economy. Despite the fact that the Greek economic crisis happened more than ten years ago, it is as relevant today as it was then because it shows that market economies are prone to breakdowns. Why did it...

 I don't usually link to podcasts without transcripts, but this is worth mentioning.The MMT Podcast with Patricia Pino & Christian Reilly#162 Warren Mosler: Anatomy Of A Bank Run

[embedded content] If you think there is abuse in our welfare system, in this case TANF, you are correct. Only, it is not the people for whom the system is suppose to be helping. In fact, there are state who are sitting on the money not having spent/distributed it as they should have. As usual, John does a great job on this issue. “States have broad flexibility over the use of state and federal Temporary Assistance for Needy Families (TANF)...

What fired me up this morning? I retrieved a post sitting in the trash. A News clipping posted by Fred Dobbs considered to be dangerous by the Angry Bear system. I retrieved it and it sits at the end of my commentary on Wisconsin. The clipping is a nice history lesson on Wisconsin. Mine is editorial. I (we) lived in Wisconsin for almost a decade in the city built on an Isthmus. When I would fly home from some consulting manufacturing/supply chain...

Jacobin is a recent, popular socialist magazine in the United States. I think the editor is Bhaskar Sunkara. Doubtless, some of you will have objections to some of the politics of some of their writers or interpretations of various things. One nice aspect of their magazine is that they provide profiles and write ups of lesser known historical figures and events in the past. Some of these are academics writing on their speciality. Some are book reviews. I have gathered together some...

Even if they go to the Fed to borrow reserves at par of their USTs they don’t have the capital to support the increase in reserve assets they borrow from the Fed…iow if they are sitting there in compliance with SLR of 0.10 …. A-L=C…. Use the SVB reported numbers….  200-180=20… (A-L)/A = 0.10 ….. ok everything is fine.. somebody comes in and tries to withdraw 20… they don’t have any reserves as RRR is 0%…   they pledge UST assets at par to borrow 20 reserves from Fed… now 220-200=20 … (A-L)/A...

Good!MAGA take on the current crises….