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Documentary of The Week: Minsky and Endogenous Money

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Steve Keen: Crash Course in Non-Equilibrium Economics Lecture 5A

Econintersect: Lecture 5 completes Prof. Keen's lecture series on non-equilibrium economics with continuation of the discussion of the application of Financial Instability Hypothesis by Hyman Minsky to the work of Richard Goodwin from fixed cycles to a functionally dynamic model. The preceding lecture (4B) showed how the dynamic Minsky model (based on the connection of Minsky and Goodwin) shows periods of notable stability which is the followed by chaos (collapse). Thus we have a model which can produce financial crisis preceded by a 'Great Moderation'. In this lecture the model is expanded to include endogenous money, that is money which is created through economic interactions within an economy rather than autonomously (exogenously) by an external authority (such as a central bank).

Steve-Keen

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What We Read Today 05 July 2015

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).

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Every day most of this column ("What We Read Today") is available only to GEI members.

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 more features, analysis, studies, and news published in the last week

Weekend Headlines for 05 July 2015

Econintersect: We have collected a variety of headlines for you to scan today, following the Read more >> jump.

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Infographic Of The Day: Dust Cloud Around The Moon

Researchers studying data from the LADEE (Lunar Atmosphere and Dust Environment Explorer) spacecraft have discovered that the airless moon is surrounded by a thin, asymmetrical dust cloud caused by the high-speed impacts of dust particles from comets.

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Video of the Day:

Conservative German MP stated in part that Greece will never be able to pay back her debts, because this would require an economic growth of more than ten percent per year for decades.


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FOREX NEWS by DailyForex

Weekly Economic & Political Timeline

This should be a more dramatic week for the Forex markets, due mainly to the Greek referendum on the proposed bailout deal that is taking place today. As the result becomes known it could rock the Euro and spill over into turbulence in other financial markets.

Greece Votes on Future Grexit

Today’s referendum in Greece could have repercussions across the globe. Or it might prove to be a tempest in a tea pot.

Chaos

Appropriately enough, the etymology of the word “Chaos” stems from the Greek word “khaos” – meaning a vast void or chasm, originally.

Oil Prices Drop on Oversupply, Chinese Stock Probe

Good news may be in store at the pump before the July 4th weekend as oil prices dropped on Friday amid reports that an oversupply of the crude remains on U.S. oil rigs.

Swedish Central Bank Surprises

A surprise rate cut by Riksbank sent the Swedish Krona nearly 1% lower against its key rival, the common currency Euro.
 more investing, markets, precious metals & forex

Insider Trading 03 July 2015: Insider Buying Tripled



 more opinion

A Sad Day for Europe

by Alan Harvey, Institute for Dynamic Economic Analysis

The debate over Greece has an eerie resemblance to the debate over climate change. One side prefers apocalypse to changing its opinion, even in the face of evidence. In fact, as the evidence mounts, the denialists become only the more rigid.

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by Asif Suria

Insider buying almost tripled last week with insiders buying $140.28 million of stock compared to $57.81 million in the week prior. Selling on the other hand declined with insiders selling $355.34 million of stock last week compared to $870.92 million in the week prior.

A majority of the insider purchases this week were related to David Einhorn participating into a secondary offering by home builder Green Brick Partners (GRBK) to the tune of nearly $85 million. Mr. Einhorn, Greenlight Capital and various other related entities now hold 24.13 million shares of Green Brick Partners. Insider selling was muted, as expected, on account of the start of earnings season.

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 USA economy at a glance (boxed items are updates in last 7 days)

Fed's Balance Sheet 01 July 2015 - Levels Fall

Total Fed Balance Sheet:

Fed's Balance Sheet week ending balance sheet was $4,440 trillion..

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