Tag: economy

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A 19th century style president has created a good old fashioned 19th century-style financial panic. I’m reminded of the Panic of 1893 which plunged the economy into a depression/recession for about four years.  If my recollection serves me, the panic was a function of corporate overexpansion (railroads) which lead to a bank crash because of […]

Volcker

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On December 9, 2019

Paul Volcker is dead. It’s worth remembering briefly just how responsible he is for many of the problems we face today. The first thing I remembered when I heard he died was a conversation I had

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The Case for Economic Anxiety

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In economy
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On November 2, 2019
What if it’s 2008, but with corporate debt instead of mortgage debt and comparatively little room for monetary stimulus? That’s what my colleague, Andreas Kern, argues in a piece at The Conversation. All American companies are currently sitting on a record US$15.5 trillion in debt, equivalent to about two-thirds of U.S. GDP. Unfortunately, this debt […]

On Freedom

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On November 1, 2018

Mike Konczal and Nell Abernathy have a call to arms, urging the Democratic Party to embrace economic freedom as a core strategy. They identify three freedoms, as opposed to FDR’s 4. There is Fre

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Fun with Charts, Trump Edition

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In General
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On October 18, 2017
Trump has been tweeting about the record highs reached by the Dow Jones Industrial Average (DJIA). Those market gains are great news for the financial sector, large investors, and even those of us in the lower bounds of the upper class with reasonable portfolios, but remains a bit hazy what they mean for the rest […]

Recession!

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On December 2, 2016

The chances of a recession are pretty high in the next 4 years, just looking at historical trends. Given the incredible length of time it took for jobs to recover after the last recession, a trend tha

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Interest Rates

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In General
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On November 18, 2015
I’m surprised the Federal Reserve hasn’t raised interest rates yet as it’s been rumored for a good year. But the time is coming, despite Janet Yellen doing some work to forestall it thus far. And it is a bad idea because not only is inflation not a problem, but the underlying economic factors that are […]
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