by Yves Smith, Naked Capitalism No matter how bad things get, it turns out they can always get worse. Wall Street is about to foist a new “innovation” on investors that even the ratings agencies won’t touch. Greedy, reckless, and just plain lazy mo… more »

by Derryl Hermanutz In, “A Copernican Turn in Macro”, I discussed the emerging understanding of the role of the money system in our macro economies. This is not new knowledge. The ancients were aware of the arithmetic necessity of periodic “clean sla… more »

  Related Articles Opinion Articles by Andrew Butter   About the AuthorAndrew Butter started off in construction in UAE and Saudi Arabia; after the invasion of Kuwait opened Dryland Consultants in partnership with an economist doing p… more »

by Elliott Morss Introduction Almost all the world’s economic ills in the last decade are attributable to unwarranted risks taken by banks. And all the remedies start by bailing out the banks, leaving the millions who lost their jobs resulting… more »

The problem facing most main-stream economists (and certainly the ones at the Federal Reserve) is that their Keynesian textbooks have taught them that at some "tipping point" the growth rates of the numerator and the denominator of that ratio become inexorably linked, making the ratio unfixable through normal (i.e., relatively painless) means. more »