Sovereign Debt Concerns in 2013
Interest rates on government debt for a number of European countries– notably Greece, Portugal, Ireland, Italy, and Spain– shot up considerably during... Read »
Obamacare Bulge?
The Congressional Budget Office put conservative economic thinkers on their ass this week. In this Report (pdf), the CBO concluded that the US budget deficit is... Read »
Europe is in Recession Because ECB Wants It
I am traveling today, so only have time to complain about some themes I keep coming across when reading the press and speaking to people out in the real world. No... Read »
Confidence Boom?
The early read on the Thomson Reuters/University of Michigan Consumer Sentiment index jumped to 83.7 in May, up from 76.4 in April. Just a quick reminder before... Read »
Treasury Sec. Jack Lew on the IRS Controversy
On this week’s “Political Capital with Al Hunt,” airing tonight at 9:00PM/ET, Bloomberg TV anchor and Bloomberg View columnist Al Hunt interviews... Read »
No, It Looks Like the House Has Not Unintentionally Eliminated the Debt Ceiling After All
In my previous post I argued that, in passing H.R. 807 on May 9th, the House of Representatives might have unintentionally eliminated the debt ceiling “as a serious... Read »
Abenomics and the Supply of Safe Assets
One of the big challenges facing the global economy is the shortage of safe assets. These are the highly liquid, information-insensitive assets that function as... Read »
Did the House of Representatives Just (Unintentionally) Eliminate the Debt Ceiling?
My fellow NEP blogger Joe Firestone wrote recently about House Resolution 807, the Full Faith and Credit Act, which was passed on May 9th by the US House of Representatives. ... Read »
We See Bubbles Everywhere – PIMCO’s Bill Gross
PIMCO’s Bill Gross brought a smile face mug on Bloomberg TV’s “Market Makers” today to illustrate to Erik Schatzker and Sara Eisen how happy... Read »
Fed Watch: Dodged That Bullet
I was reading Robin Harding’s take on the possible nomination of Federal Reserve Vice Chair Janet Yellen for the top job at the Fed, and a chill went down... Read »
A Japanese Recovery?
Japan’s new GDP numbers look a bit puzzling: Japan’s economy expanded the most in a year last quarter as consumer spending and export gains outweighed the weakest... Read »
Industrial Output In April Slumps The Most In Eight Months
Industrial production fell more than expected last month, sliding 0.5% in April. That’s a bit deeper than economists projected, and it’s an even bigger drop... Read »
Fed’s Plosser on the Exit
As is well known, policymakers have been coalescing around a QE exit strategy for some time, since at least the March FOMC meeting. Two central issues with the... Read »
Money, Taxes and What We Can Afford
People sometimes seem to suggest that the Western democracies are at the end of the road economically. They claim that these governments are spent, broke, tapped... Read »
Mr. President, End Debt Ceiling Hostage-taking for Good!
On May 9, 2013, The Republican House passed H.R. 807 the Full Faith and Credit Act. The Bill says in part: (a) In General- In the event that the debt of the United... Read »
Time Travel in Euroland
Unfortunately, this is not news by now, but the president of the Euro group, Jeroen Dijsselbloem in an interview with CNBC yesterday dismissed the role that fiscal... Read »
Detroit on the Ropes
Perhaps ranking as the least surprising revelation of the year, the Detroit emergency manager has reported that the city is bankrupt. “The City of Detroit continues... Read »
What Does Japan Mean for the Rest of the World?
Is Abenomics about boosting exports or domestic demand? I tend to agree with Lars Christensen on this issue: There has been a lot of focus on the fact that USD/JPY... Read »
Consumer Spending Reveals No Signs of Rolling Off the Edge
Whenever a key economic indicator shows weakness in the latest monthly update, the usual worries arise. No explanation required in the current environment and so... Read »
End of QE may Occur this Year, Rate Hike Not Likely
Gavyn Davies at the Financial Times questions the Federal Reserve’s employment target: On the wider issue of general monetary policy, the behaviour of inflation... Read »






