Monthly Archives: March 2013

Relentless optimism?

As Europe waits to see what follows the Cypress haircut and Italian political deadlock; Japan waits to see if its efforts at halting deflation produce progress, ignite excess inflation, or fail; China waits to see if it can sustain growth … Continue reading

Posted in The Global Economy, U.S. Politics | 4 Comments

A Haircut in Cyprus

It’s baaaack! Many thought the EU crisis had been safely put behind us, thanks to Magic Mario and the ECB’s promise to do whatever it takes to save the Euro. Even the near deadlocked election in Italy, the continued squeeze … Continue reading

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Wealth and Social Justice

The news this week was good — U.S. national wealth had returned to pre-recession levels. Or was it? Pry into the details and it turns out that wealth in housing — which affects most middle class people (the poor have … Continue reading

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Fantasies, Budgets, and Democracy

If the Republicans proposed a federal budget for 2013-14 that relied on a rain of gold doubloons, all of which would happen to fall in the Federal government’s coffers, as the basis for U.S. fiscal planning we would laugh.  Or cry, … Continue reading

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Markets love debts?!

The Dow is setting a record high — and that is rational for two reasons. First, the global middle class is growing fast and will add $3 trillion in new consumption over the next forty years.  Second, corporate profits continue … Continue reading

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Same old same old

There hasn’t been much new to blog about except the same old, same old bad news. The Republicans and Democrats fail to produce a budget deal — is that news? About as much as dogs chewing bones or cats chasing … Continue reading

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