blogs.ft.com - 10/12/2009
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By Thomas Palley
Over the past year the global economy has experienced a massive contraction, the deepest since the Great Depression of the 1930s. But this spring, economists started talking of “green shoots” of recovery and that optimistic assessment quickly spread to Wall Street. ...
capitalgainsandgames.com - 10/13/2009
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capitalgainsandgames.com —
Today is the official publication date of my
latest book, The New American Economy . In this...
post I'd like to explain a little bit about why I wrote it and how I arrived at my present state of mind, which seems to be confusing to many of my friends. ...
(more)
Supply-Side Economics, R.I.P.
blogs.wsj.com - 10/8/2009
nytimes.com - 10/12/2009
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nytimes.com —
One lesson from the Great Depression is that
you should never underestimate the destructive power of bad...
ideas. And some of the bad ideas that helped cause the Depression have, alas, proved all too durable: in modified form, they continue to influence ...
(more)
Misguided Monetary Mentalities
Comments
Blog Reactions
links for 2009-10-11
Economist's View —
... When should the Fed raise rates? (even more wonkish) - Paul Krugman
A second Great Depression is still possible - Thomas Palley ...
"A Second Great Depression is Still Possible"
Economist's View —
...
A second Great Depression is still possible, by Thomas Palley, Commentary,
Economists' Forum: Over the past year the
global economy has experienced a massive contraction, the deepest since the
Great Depression of the 1930s. But this spring, economists started talking of
“green shoots” of recovery and that optimistic assessment quickly spread to Wall
Street. More recently, on the anniversary of the Lehman Brothers crash, Ben
Bernanke, Federal Reserve chairman, officially blessed this consensus by
declaring the recession is “very likely ...
Links 10/12/09
naked capitalism —
... Reuters
China Nurtures Futures Markets in Bid to Sway Commodity Prices Wall Street Journal (hat tip DoctoRx)
Ditch the Directive: UK stands up for hedge funds Telegraph (hat tip reader Swedish Lex). Um, who said race to the bottom and regulatory arbitrage?
Cash machines were monitored every hour during banking crisis Guardian
The State of Monetary Chevelle. Despite the unprepossessing title, this is a mighty fine post.
A Second Great Depression Is Still Possible Thomas Palley.
Gore Vidal’s United ...
approaching the double dip
Decline and Fall of Western Civilization —
... koo estimates a multiplier of fiscal stimulus in japan during their balance sheet recession between 1990 and 2005 of close to seven -- which is to say ¥2000tn of private sector debt was retired with a stimulus of ¥300tn -- and this appears yet better in light of the alternative, which is a collapse of incomes, deposits and wealth to perhaps half their former level. absent the political will to massive new fiscal stimulus, however, thomas palley in the financial times via mark thoma lights the pathway of deleveraging from this monster debt ...
Guest Post: The Ongoing Cover Up of the Truth Behind the Financial Crisis May Lead to Another Crash
naked capitalism —
... never experiences another economic crisis like the current one. This push is part of a cover-up of what really went wrong and does absolutely nothing to address the underlying problem that led to this financial and economic collapse.
Baker also says:
“Instead of striving to uncover the truth, [Congress] may seek to conceal it” and tell banksters they’re free to steal again.
Economist Thomas Palley says that Wall Street also has a vested interest in covering up how bad things are: ...
The Cover-Up
Bear Mountain Bull —
... :“Instead of striving to uncover the truth, [Congress] may seek to conceal it” and tell banksters they’re free to steal again. Economist Thomas Palley says that Wall Street also has a vested interest in covering up how bad things are: That rosy scenario thinking has returned to Wall Street should be no surprise. Wall Street profits from rising asset prices on which it charges a management fee, from deal-making on which it earns advisory fees, and from encouraging retail investors to buy stock, which boosts transaction fees. Such earnings are far larger when stock markets ...
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economistsview.typepad.com 10/25/2009 — Lessons from the Great Depression:
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prices declined, and unemployment rose, ...
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