by Dirk Ehnts, Econoblog101
At the end of October, Hans-Werner Sinn published an article on the question of how to set up a monetary system. Sinn is Professor of Economics and Public Finance at the University of Munich, is President of the Ifo Institute for Economic Research and serves on the German economy ministry's Advisory Council.
by L. Randall Wray, New Economic Perspectives
Here's a summary of the plan Bernie Sanders has set out, along with my comments (in italics).
1.) We need a major investment to rebuild our crumbling infrastructure. $1 trillion investment to create 13 million decent paying jobs and make this country more efficient and productive.
by James Rickards, Daily Reckoning
Today's investment climate is the most challenging one you have ever faced. At least since the late 1970s, perhaps since the 1930s. This is because inflation and deflation are both possibilities in the near term. Most investors can prepare for one or the other, but preparing for both at the same time is far more difficult. The reason for this challenging environment is not difficult to discern.
Today's Eurozone fiscal discipline is the amalgamation of reforms implemented over ten years, with the latest and largest changes agreed in crisis settings. This column argues that the result fosters neither growth nor stability since actual fiscal policy has been powerfully procyclical. The focus on intermediate targets has distracted attention from the final objectives - debt sustainability and economic convergence. A drastic simplification of the current rules is proposed.