By JKH Here are some of the equations and interpretations that flow from the basic national income accounting identity. C + I + G + (X – M) = C + S + T (1) This is the national income accounting identity. (S – I) = (G –T) + (X – M) [...]
Did Delong/Summers riff off Fullwiler 2006?
March 27, 2012 By
To me, it sure looks like Summers/Delong just riffed off Scott Fullwiler‘s 2006 piece. Here is a key paragraph from Scott F’s incredible piece “Interest Rates and Fiscal Sustainablility”: It is entirely possible I may have read that paper by Scott more carefully and more [...]
Morning Caffeine 3-26-2012
March 26, 2012 By
Tacocopter: One-click Taco Delivery in the SF Bay Area TacoCopter! You take a taco, then add a robot, then make the robot fly to you and deliver the taco to you while you are hungry! TacoCopter – Tacos Delivered Straight to Your Home With GPS Guided Quadcopters | Singularity Hub I’ll be ordering from TacoCopter [...]
Morning Caffeine 3-23-2012
March 23, 2012 By
FRED Joe’s good. Goldman On New Paper From Delong And Summers Goldman seems to have almost fully embraced PK in their analysis. tags: PostKeynesianism Goldman IBM’s Watson to Help Memorial Sloan-Kettering With Cancer – Bloomberg I think everybody is underestimating Watson Dallas Fed Calls For Breakup Of Big Banks Just JoeP: Sleeping Sperm (Whales) Social Democracy [...]
Morning Caffeine 3-22-2012
March 22, 2012 By
Austerity or Stimulus? What We Need Is Growth – Bloomberg Cochran almost seems insane in this post. Saving Versus Saving Net Of Investment Asymptosis » Thinking About the Fed Bloomberg Nymex WTI Cushing Crude Oil First Month 321 Crack Spread Analysis – CRK321M1 – Bloomberg Analysis: Turning point in the currency war | Reuters I [...]
Updated Sectoral Balances….
March 22, 2012 By
The Fed’s Flow of Funds came out last Friday and that gives us an update on the sectoral balances. You can see that the government’s deficit continues to provide a big boost to the private sector at a time when it’s still very much needed. The good news is that we’re beginning to see [...]
Morning Caffeine 3-21-2012
March 21, 2012 By
A bit late today… All that JKH got me behind schedule this AM. Economic Maverick Few questions: Q1.How does Zombie Banks fit into all of this? Does that preclude credit expansion if the bank is sitting on toxic assets at inflated prices? Q2. Would putting the banks into receivership in 2009 and writing down their [...]
Cullen on MMR
March 20, 2012 By
Heeeeeeerrrrreeeesssss Cullen: “I’d only emphasize that we’re trying to highlight the “backbone” of the economy through these discussions. But that doesn’t mean there aren’t other vital parts to the machine. And I keep using a machine analogy because I think it’s wrong to apply a hierarchy of some sort to the system. That’s what bothers [...]
What’s Wrong With This Image?
March 20, 2012 By
Pop quiz kids. The following image is from Paul Ryan who appears to be on a perpetual campaign to scare Americans into believing that we’re Greece. And he keeps making a really basic error in this campaign. Now, can anyone spot the odd man out in this picture (h/t Joe Weisenthal): If you guessed [...]
Morning Caffeine 3-20-2012
March 20, 2012 By
Bo Xilai firing saga looks far from over in China – The Globe and Mail Scott Sumner thinks this is huge news. Why Conservatives Are Still Crazy After All These Years | Rick Perlstein | Politics News | Rolling Stone I grew up with some batty religious conservative aunts and uncles who exposed me to [...]
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