Time to Wake Up, America!
In The Matrix, Neo (Keanu Reeves) discovers that the world he thought he was living in was merely an illusion, a computer-generated program designed to keep him docile and to be, in effect, a D-Cell battery. I’ve long held that The Matrix is a brilliant example of political cinema. [...]
Paul Krugman gives a talk at the LSE (The London School of Economics). With slides!
Run for the hills!!!! Or not…
US Debt vs the 10 Year Treasury yield
(h/t Mike Norman)
You can play with the data on FRED.
The socialists editors at the Financial Times are calling on the US to execute a large fiscal stimulus program.
Pessimists have been forecasting runaway inflation since the start of the financial crisis in 2008. Clearly the markets do not agree. US Treasury yields continue to plummet – last week the 10-year bond hit a record [...]
While explaining (yet again) why household budgets are not the same as national economies, heterodox economist L. Randall Wray observes:
The United States has … experienced six periods of depression. The depressions began in 1819, 1837, 1857, 1873, 1893, and 1929. (Do you see any pattern? Take a look at the dates listed above.) With [...]
So sayeth the IMF in a consultation with the UK:
The hand-off from public to private demand-led growth has not fully materialized. Much of this underperformance relative to earlier expectations is due to transitory commodity price shocks and heightened uncertainty following the intensification of stress in the euro area.
Translation: Your fear of the [...]
A great, short, talking-head video featuring Mike Norman, economist and trader who’s been a Wall Street fixture for more than 30 years. He appears regularly on CNBC and Bloomberg TV. His blog, Mike Norman Economics is a staple for the MMT crowd. He’s commenting here about the stupid way people talk about the national debt.
I don’t normally cite polls from the grossly biased Rasmussen, but this one was too absurd not to post.
A new Rasmussen Reports national telephone survey finds that 51% of Likely Voters believe the federal government will go bankrupt and be unable to pay its debt before the federal budget is balanced. Thirty-six percent [...]