Monthly Archives: June 2012

In summary, the summit has given the ESM some new tasks, but no new money with which to discharge these tasks.  And many details are obscure. To quote the lyrics of the great Johnny Nash: There are more questions than answers … Continue reading →

In “Perils of Prophecy“, DeLong writes: We economists who are steeped in economic and financial history – and aware of the history of economic thought concerning financial crises and their effects – have reason to be proud of our analyses … Continue reading →

The “Manifesto for Economic Sense”, signed by hundreds of economists from different countries starts off saying: More than four years after the financial crisis began; the world’s major advanced economies remain deeply depressed, in a scene all too reminiscent of … Continue reading →

In today´s Fiscal Times, Bruce Bartlett has a piece with a catchy title: 7 Reasons the Fed Should Raise Interest Rates… …and Still Keep Easy Money Flowing through the Economy And after detailing his 7 reasons, he concludes: So how … Continue reading →

The BIS annual report released last weekend has been ‘dissected’ by many but if you want the best and most detailed critical analysis, Ryan Avent´s ‘ME report’ is the place to go. One quote: The annual report is a remarkable … Continue reading →

Recently Mexico hosted the G-20 meeting while Brazil hosted the UN´s sustainable growth conference. I´ve posted something on this before, but there´s more. From David Henderson´s blog I read: This is from Ivan Eland, “The U.S. Should Take Lessons from Mexico,” June … Continue reading →

For Stiglitz, the Fed can only do harm: The Fed has consistently failed to understand the links between inequality and macroeconomic performance. Before the crisis, the Fed paid too little attention to inequality, focusing more on inflation than on employment. … Continue reading →

The BIS annual report was released today. In the section “Limits to Monetary Policy” we read: The major advanced economies are maintaining extraordinarily accommodative monetary conditions, which are being transmitted to emerging market economies (EMEs) in the form of undesirable … Continue reading →

For a long time market monetarists have argued that the Fed´s evasive monetary policy is the major force keeping the economy down and out. Keynesians, notably Krugman, argue that the solution requires much more forceful government spending. That´s because, given … Continue reading →

Jon Hilsenrath: The Fed said in its official statement Wednesday that it was prepared to take additional action if the job market doesn’t improve. Mr. Bernanke repeated that sentiment over and over again at his press conference. Given how he has behaved … Continue reading →