The U.S. Business Cycle in the Context of the Yo-Yo Years

by Lakshman Achuthan, Co-Founder and Chief Operations Officer, ECRI Economic cycles are an inherent part of how every market-oriented economy in the world operates, and what happens around cycle turning points has always been ECRI’s primary focus. From this perspective, with the onset of the Great Recession – even before the Lehman Brothers collapse – …

Debt Ceilings, Bombs, Cliffs and the Trillion Dollar Coin

by Jeffrey Frankel, Jeff Frankel’s Weblog Needless to say, the US has a long-term debt problem.  The problem is long-term both in the sense that it pertains to the next several decades rather than to this year.  (Indeed, the deficit/GDP ratio has been falling since 2009, despite the weakness of the economy.)   The problem is …

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 as a quasi-permanent shock for Europe. The policies that are needed get the Eurozone back …

Stephanie Kelton Lecture on Sectoral Balances and the Fiscal Cliff

The following lecture was given by Stephanie Kelton, Associate Professor of Economics at the University of Missouri Kansas City to the New America Foundation / Economic Growth Program / Economists for Peace and Security in Washington, DC, 13 November 2012.  The lecture is available in two forms:  a slide presentation with audio and on a …

The Hollowing Out of America

by Steve Fraser, History News Network “Debtpocalypse” looms. Depending on who wins out in Washington, we’re told, we will either free-fall over the fiscal cliff or take a terrifying slide to the pit at the bottom. Grim as these scenarios might seem, there is something confected about the mise-en-scène, like an un-fun Playland. After all, …