QE3, Treasury Style—Go Around, Not Over the Debt Ceiling Limit" By Scott Fullwiler, UMKC, Econ. Perspectives frm Kansas City
By Scott Fullwiler
Earlier this week, President Obama talked about the weakening state of the economy, telling us that he’s not worried about a double-dip recession and that the nation should “not panic.” It’s hard to imagine a more alarming assessment at this juncture.
Readers, read it and weep
Today’s unemployment data suggests that we are experiencing something far worse than a mere “bump in the road”, as our President described it last month. In fact, if last month was the time to panic, as Stephanie Kelton argued here, then today’s data should create real palpitations in the White House. This isn’t just a “bump,” but a fully-fledged New York City style pot hole.
Full text of Chinese Premier's speech at China-Central and Eastern European Countries Economic and Trade Forum
Readers, this is the full text of Wen Jiabao's speech on June 25th. I will read closely the text myself a bit later to mine its content, and I will report back. It is monumentally stupid to ignore China's advances toward the fairly traditional and historic Chinese open sea policy and preference to do trade not direct military warfare. If compared to the current monetary and economic policies of China it is permeable by choice and expressly self (China's) interest. I will add more later, Tadit Anderson
"European Authorities Risking Financial Contagion in Greek Showdown; Where Is the U.S. Government?" By Mark Weisbrot Guardian
Readers. Weisbrot is more of a political economist in a liberal sense. His economics is weak generally once he wanders away from political issues into more technical areas. He seems often to be wide of the mark, and seems to have no clue at all about what Post-Keynesianism and functional fiscal policies has to offer as an analysis, or even a basic understanding the nature of monetary economics.
"Empire or Republic. How the Empire Destroys its Own People..." by Prof. James Petras, Global Research
Friends, Interesting stuff, more for the concise nature of the content, than upon its immediate nature. The core objective for the Empire is the profit of the few on a global scale. This is not about "Capitalism vs Communism" actually, but rather about the specific structure of an economy and the priorities demonstrated by that structure. Walter A. "Mac" Davis, an acquaintance friend of mine who is a high level psychiatrist, cultural critic, playwright, and philosopher described the pattern of empire as the presence of a culture of death, Thantos. fast forward, Tadit Anderson
I had a discussion with with an acquaintance recently, and she expressed that she understood economics, and then described a rather conventional ideology about the importance of having personal savings. Her apparent actual depth of understanding of economics. For someone of her apparent social awareness to be invested in the same economic ideology which has destroyed our communities it seems that a learning curve is possible.
" Free money creation to bail out financial speculators, but not Social Security or Medicare" By Michael Hudson, UMKC
By Michael Hudson
"The S&P Downgrade: Much Ado about Nothing Because a Sovereign Government Cannot go Bankrupt" By L. Randall Wray. UMKC, 04/23/11
The claims about “unsustainable deficits” gained new urgency this week as S&P warned that it was downgrading US federal government debt from stable to negative
This appeared to be a blatantly political move, designed to influence the debate in Washington, adding fuel to the fire to cut budget deficits.
A most dastardly deed occurred last Friday when the Obama administration issued a 29-page policy statement totally abandoning the federal government’s time-honored role in helping Americans achieve the goal of homeownership. Instead of punishing the banks that sabotaged the American ideal of a nation of stakeholders by “securitizing” our homesteads into poker chips to be gambled away in the Wall Street casino, Barack Obama now proposes to turn over the entire mortgage industry to those same banks.