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Austerity and Growth Perspectives: Europe, the IMF, China, and the US
Written by Elliott Morss, Morss Global Finance Introduction Over the last two decades, the trade-offs between more rapid economic growth and the need for governments to keep their financial houses in order has been a topic of worldwide debate. Controversy … Continue reading
Posted in China, Economics, Eurozone, GDP, International Economic data
Tagged China, consumer confidence, Elliott Morss, employment, Federal Reserve, GDP, inflation, recession, recovery
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Everyone’s Missing the Bigger Picture in the Reinhart-Rogoff Debate
by Washington’s Blog, Washington’s Blog The “Excel Spreadsheet Error” in Context You’ve heard that an incredibly influential economic paper by Reinhart and Rogoff (RR) – widely used to justify austerity – has been “busted” for “excel spreadsheet errors” and other … Continue reading
Posted in Economics, Federal Reserve, Government, money
Tagged consumer confidence, Economy, Federal Reserve, GDP, inflation, ponzi finance, private debt, recession, Washington’s Blog
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The Cashless Society
by John Mauldin, Thoughts from the Frontline But Mousie, thou art [not alone], In proving foresight may be vain: The best-laid schemes o’ mice an’ men Gang aft agley, An’ lea’e us nought but grief an’ pain, For promis’d joy! … Continue reading
Posted in GDP, macroeconomics, money
Tagged consumer confidence, Economy, Federal Reserve, John Mauldin, monetary policy, money
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Understanding Causation: Debt and Growth
Debt-to-GDP Ratios and Growth: Country Heterogeneity and Reverse Causation, the Case of Japan (Ultra Wonky) by Matthew Berg and Brian Hartley, New Economic Perspectives Originally posted at New Economic Perspectives, 29 April 2013 Summary We find that the correlation between … Continue reading
Comparing Unemployment During the Great Depression and the Great Recession
by William K. Black, New Economic Perspectives Barry Eichengreen’s and Tim Hatton’s January 1988 paper entitled “Interwar Unemployment in International Perspective” is a useful starting point for any effort to compare unemployment during the Great Depression and the Great Recession. … Continue reading
Posted in Economics, Employment, Eurozone, UK, macroeconomics, money
Tagged Economy, employment, Federal Reserve, Great Depression, recession, recovery, unemployment, William K. Black
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Argentina: A Partial Defense of the Lady
Written by Elliott Morss, Morss Global Finance Introduction A couple of weeks back, an American friend living in Buenos Aires asked me: “Have you been following this crazy woman? I would love to hear your take on her.” In what … Continue reading
Inequality – Both Economic and In Access to Liberty and Justice – Skyrockets to Historic Levels
by Washington’s Blog, Washington’s Blog Poverty Spikes In America … While the Government Throws Money at the Super-Elite AP reports that the U.S. is seeing the highest spike in poverty since the 1960s, and notes: According to a report by … Continue reading
Posted in Economics, Employment, money
Tagged Economy, Federal Reserve, GDP, inequality, personal income, Washington’s Blog
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Self-defeating Austerity?
by Dawn Holland and Jonathan Portes, Voxeu.org EU governments have individually embraced severe austerity programmes in an effort to avoid becoming the next Portugal. This column presents results from the National Institute Global Econometric Model suggesting that these individually rational … Continue reading
Posted in Eurozone, macroeconomics
Tagged consumer confidence, Dawn Holland, Economy, Federal Reserve, GDP, Jonathan Portes
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Government Debt and Deficits Are Not the Problem. Private Debt Is.
by Michael Hudson, New Economic Perspectives Remarks by Prof. Michael Hudson at The Atlantic’s Economy Summit, Washington DC, Wednesday, March 13, 2013. There are two quite different perspectives in the set of speeches at this conference. Many on our morning … Continue reading
Posted in Banking News, macroeconomics, money, mortgages
Tagged consumer debt, debt, Economy, GDP, michael hudson, national debt, private debt, public debt, rentier
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Stratfor: Disturbing Precedent in the Cyprus Bailout
By George Friedman, Founder and Chairman, Stratfor The European economic crisis has taken different forms in different places, and Cyprus is the latest country to face the prospect of financial ruin. Overextended banks in Cyprus are teetering on the brink … Continue reading
Posted in Banking News, Eurozone, aa syndication
Tagged banking, banks, Cyprus, deposits, EU, George Friedman, profit, russia, shareholders, Stratfor, Tax, usa
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The Euro Mess Gets Messier
by Elliott Morss, Morss Global Finance Introduction I have not written about problems in the Eurozone and surrounding areas since last October since nothing had changed. The Eurozone is in the process of falling apart because what I called the … Continue reading
Posted in Eurozone, macroeconomics, money
Tagged banking, Cyprus, Cyprus banks, Elliott Morss, Eurozone, money, money and banking, weak sisters
3 Comments
Stratfor: Europe, Unemployment and Instability
By George Friedman, Founder and Chairman, Stratfor The global financial crisis of 2008 has slowly yielded to a global unemployment crisis. This unemployment crisis will, fairly quickly, give way to a political crisis. The crisis involves all three of the major … Continue reading
Posted in Eurozone
Tagged employment, EU, Europe, France, George Friedman, Germany, Italy, Stratfor, UK, unemployment, usa
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Insane Levels of Inequality
Insane Levels of Inequality – Which Hurt the Economy – Are Skyrocketing by Washington’s Blog, Washington’s Blog Preface: All capitalist systems have some inequality. We don’t want to prevent all inequality … just economy-wrecking levels: Lawrence Katz, a Harvard economist, … Continue reading
Posted in Economics
Tagged consumer confidence, Economy, Income inequality, Washington’s Blog, wealth inequality
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Panic-driven Austerity in the Eurozone and Its Implications
by Paul De Grauwe and Yuemei Ji, Voxeu.org Eurozone policy seems driven by market sentiment. This column argues that fear and panic led to excessive, and possibly self-defeating, austerity in the south while failing to induce offsetting stimulus in the … Continue reading
Posted in Economics, Eurozone, Government, International Economic data
Tagged consumer confidence, Economy, Federal Reserve, GDP, Paul De Grauwe, recovery, Yuemei Ji
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How to Induce Explosive Debt Dynamics
by Menzie Chinn, Econbrowser.com The debt ceiling and implications of: “We Republicans need to be willing to tolerate a temporary, partial government shutdown.” and more recently “I think it is possible that we would shut down the government to make … Continue reading
Posted in Economics, Federal Reserve, GDP, Government, US Treasury
Tagged debt ceiling, Economy, federal deficit, Federal Reserve, GDP, government shutdown, Menzie Chinn
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The U.S. Deficit/Debt Problem: A Longer-Run Perspective
by Daniel L. Thornton, Research, St. Louis Federal Reserve The U.S. national debt now exceeds 100 percent of gross domestic product. Given that a significant amount of this debt is the result of governmental efforts to mitigate the effects of … Continue reading
Posted in Economics, Federal Reserve, GDP, Taxation, macroeconomics
Tagged Daniel L. Thornton, debt crisis, Economy, Federal Reserve, GDP, inflation
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Eurozone Crisis: It Ain’t Over Yet
by Paolo Manasse, Voxeu.org All G7 economies are struggling in the post-crisis climate, but US GDP has recovered to pre-crisis levels, while the Eurozone simply hasn’t. This column portrays the global crisis as a transitory shock for the US, but … Continue reading
Posted in Economics, Eurozone, money
Tagged Economy, eu crisis, Federal Reserve, fiscal cliff, GDP, Paolo Manasse, unemployment
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China – the Next Economic Superpower? Better Hedge Your Bets
Written by Elliott Morss, Morss Global Finance Introduction In earlier postings, I have examined global power from both “empire” and “fragmentation” perspectives. Empire implies concentrated power, usually for economic gain – not just for the acquisition of power per se. In … Continue reading
Posted in China, Economics
Tagged China, consumer confidence, Economy, Elliott Morss, GDP
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The Economic Significance of Avoiding the “Cliff”
by Elliott Morss, Morss Global Finance Introduction During the entire “Cliff” debate, I focused on one thing only: Will the politicians be foolish enough to imperil the slow and fragile recovery taking place in the US? And on this issue, … Continue reading
Posted in Employment, macroeconomics
Tagged Economy, Elliott Morss, employment, Federal Reserve, GDP, recession, recovery, unemployment
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Q4 2012 Global Risk Analysis from BBVA
by Dr. Constantin Gurdgiev, TrueEconomics.Blogspot.in Editor’s note: Global Economic Intersection welcomes Dr. Gurdgiev as a guest author. Constantin is an “embedded economist” in the Irish front lines, lecturing at Trinity College, Dublin. He brings us an insider’s view of what … Continue reading
Posted in Economics, Eurozone, GDP, macroeconomics, stock markets
Tagged bbva, Constantin Gurdgiev, GDP, global risk
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