Did the House of Representatives Just (Unintentionally) Eliminate the Debt Ceiling?

May 16, 2013, 5:15 PM 1

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

May 16, 2013, 1:02 PM

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

May 16, 2013, 12:51 PM 1

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?

May 16, 2013, 10:38 AM

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

May 15, 2013, 11:15 AM

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

May 14, 2013, 1:52 PM

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

May 14, 2013, 1:46 PM

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!

May 14, 2013, 6:57 AM

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

May 14, 2013, 6:45 AM

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

May 13, 2013, 8:30 PM

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?

May 13, 2013, 3:25 PM

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

May 13, 2013, 10:11 AM

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

May 13, 2013, 6:53 AM

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 »

Abenomics Confusion

May 12, 2013, 5:52 PM

Lars Christensen nails it on the confusion surrounding Abenomics: There has been a lot of focus on the fact that USD/JPY has now broken above 100 and that the slide... Read »

Escaping Liquidity Traps: Lessons from the UK’s 1930s Escape

May 12, 2013, 8:30 AM

The UK escaped a liquidity trap in the 1930s and enjoyed a strong economic recovery. This column argues that what drove this recovery was ‘unconventional’ monetary... Read »

College Is Bad If You’re Poor Or Stupid

May 12, 2013, 7:53 AM 1

I’ve read a spate of stories today on how pursuing a college education is increasingly one of the worst life decisions an American can make.  It’s even... Read »

‘Something Will Break Very Badly’: Marc Faber

May 12, 2013, 6:02 AM

Marc Faber, editor of “The Gloom Boom And Doom Report,” offers his latest views during an interview with “The Globe And Mail” about gold,... Read »

A Pro-Growth Economic Plan

May 11, 2013, 2:28 PM

The world economy seems to be acting in unexpected ways. This column argues that austerity and quantitative easing do not seem to be working out as advertised. There... Read »

Bernanke’s Pangs Over TBTF Bank Capital Adequacy

May 11, 2013, 10:56 AM

Is the Fed Chairman having pangs of conscience over regulation of TBTF banks?  His latest remarks in Chicago indicate a willingness to implement tougher capital... Read »

Balance Sheet Recessions Are Really Nominal Income Recessions

May 11, 2013, 10:07 AM

I recently lamented the Fed’s ongoing dereliction of duty as seen in the sustained declined of households’ expected nominal income growth: In that post,... Read »

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