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23 apr 2014 13:34

China’s Debt Endgames

Quick And Slow Deaths… Understandably, the major focus now is on the denouement of the crisis. Pessimists are concerned about a catastrophic crash. Optimists are more sanguine, expecting a soft landing with gradual reforms correcting the systemic issues. The crash scenario is predicated on continuing increases in debt levels and over-investment. Policy adjustments are fatally [...]

economia | ecomonitor.com

23 apr 2014 05:33

MMT Does Do Policy

I’ve seen some pretty bizzarre claims about MMTers. They are “tea partiers”, “barely left of center”, who “are not interested in policy”, who “ignore inequality”, who “are only interested in reducing taxes”. “MMTers ignore the fraud of the banksters.” They are at best “one issue” advocates for a particular view on money, taxes, and employment. [...]

economia | ecomonitor.com

22 apr 2014 22:29

Japan Imports Record Level of LNG, Coal

Japan reported that it imported record levels of coal and liquefied natural gas for the fiscal year that ended in March. Japan has been forced to import vast amounts of fossil fuels to make up for an energy shortfall caused by its decision to shutter nearly all of the country’s 54 nuclear reactors after the March, 2011 [...]

economia | ecomonitor.com

22 apr 2014 22:27

U.S. Funds Nervous About U.S. Sanctions On Russia

Several U.S. funds are concerned about the investment risk posed by potentially broad economic U.S. sanctions on Russia in response to Moscow’s actions in Ukraine. According to Reuters, securities filings submitted by major funds show that fund managers believe that there is a major downside risk to investments in Russian assets. If the U.S. and Europe [...]

economia | ecomonitor.com

22 apr 2014 21:34

How a Coordinated IEA SPR Release Could Enable Russia Energy Sanctions

I read a nice report today from Securing America’s Future Energy (SAFE) and the owner of Economonitor, Roubini Global Economics (RGE), called “Russia-Ukraine Crisis and Its Implications for Global Energy Markets,” and it gave me an idea: America should export crude to IEA member states who agree to energy sanctions on Russia and participate in [...]

economia | ecomonitor.com

22 apr 2014 20:58

Is U.S. Inflation Headed Higher?

Has the slow decline in the pace of consumer price inflation in the US hit bottom? If so, is that good news for the economy? A cautious “yes” applies in both cases, albeit with the usual caveats. Looking at the core reading of consumer price inflation through last month suggests that the price trend has [...]

economia | ecomonitor.com

22 apr 2014 18:16

State Employment Trends: Does a Low Tax/Right-to-Work/Low Minimum Wage Regime Correlate to Growth?

It’s interesting how “pro-business” policies do not appear to be conducive to rapid employment growth. Employment in Governor Walker’s Wisconsin, as in Governor Brownback’s Kansas, has lagged behind that of the United States (and behind that of Governor Dayton’s Minnesota and Governor Brown’s California). Figure 1: Log nonfarm payroll employment in Minnesota (blue), Wisconsin (red), Kansas [...]

economia | ecomonitor.com

22 apr 2014 18:13

Chinese Premier Announces Clean Energy Push

Chinese Premier Li Keqiang has restated the government’s plans to aggressively build clean energycapacity throughout the country in an effort to reduce air pollution. Li’s announcement, which he made on the central government’s website, comes as major Chinese cities have been suffering from catastrophic levels of smog. Li’s statement laid out plans to build new solar, [...]

economia | ecomonitor.com

22 apr 2014 18:10

Raising Taxes on Corporations that Pay Their CEOs Royally and Treat Their Workers Like Serfs

Until the 1980s, corporate CEOs were paid, on average, 30 times what their typical worker was paid. Since then, CEO pay has skyrocketed to 280 times the pay of a typical worker; in big companies, to 354 times. Meanwhile, over the same thirty-year time span the median American worker has seen no pay increase at all, adjusted for inflation. [...]

economia | ecomonitor.com

22 apr 2014 06:13

Yes, Virginia, Taxes Do Drive Money: Confirmation from a Money Manager

Yet another money manager “bites the dust”, falling for the MMT view that “taxes drive money”. See his piece, “The good you do for the dollar when you pay your taxes”, by Jon Shayne April 3, 2014; http://www.pbs.org/newshour/making-sense/the-good-you-do-for-the-dollar-when-you-pay-your-taxes/ I wonder why this is relatively easy for those who work in financial markets, but almost impossible [...]

economia | ecomonitor.com