Tag Archives: Derryl Hermanutz

U.S. Facing Insolvency by Ignorant Choice

Posted on 26 December 2011 by admin

by Derryl Hermanutz In his book, “The 7 Deadly Innocent Frauds of Economic Policy”, modern money theory (MMT) advocate Warren Mosler distinguishes between three very different kinds of money systems, “Historically, there have been three categories of money: commodity, credit, … Continue reading →

Posted in money | Tagged , , , , , , , | 10 Comments

The EU Zero Sum Problem

Posted on 22 November 2011 by admin

by Derryl Hermanutz From the Associated Press, hosted by Google, Monday, November 21, 2011: The European Commission chief said Monday he wants to introduce eurobonds issued jointly by the 17 euro nations as an effective way to tackle the financial … Continue reading →

Posted in Eurozone | Tagged , , , , , | Leave a comment

Vendor Financing and Fallacies of Composition

Posted on 29 July 2011 by admin

Humans are not rational in the truth-maximizing sense of the term. They do not want to know the whole truth if some parts of truth contradict what they want to happen. Humans are values-maximizing in the short run, not truth maximizing in the long run. Continue reading →

Posted in Eurozone, International Economic data | Tagged , , , , , | Leave a comment

The New Feudalism

Posted on 7 December 2010 by admin

Debt is the new global feudal lord. Debt will not be repaid and soon the debt service won’t be payable either. The serfs, not the Lords, should be bailed out. Continue reading →

Posted in Banking News, Federal Reserve, US Treasury | Tagged , , , , | 8 Comments

Elizabeth Duke Understates the Problems with Mortgages

Posted on 18 November 2010 by admin

The mortgage documentation and foreclosure crisis has the potential to strike at the core of the mortgage securitization business. This is a systemic crisis. Continue reading →

Posted in Banking News, Federal Reserve, Home Sales and Home Prices | Tagged , , , , | 1 Comment

Business Cycle Drivers

Posted on 28 October 2010 by admin

The primary driver of recovery and expansion is demand. There are many traps related to monetary issues in the down portion of the business cycle, but ultimately monetary factors are symptoms of depression and not the primary drivers. Continue reading →

Posted in Business News and Analysis | Tagged , , , , | 6 Comments