by Joseph Joyce The External Debt of the Emerging Market Economies The outflow of money from emerging markets this year will most likely surpass inflows for the first time since 2008, and net capital outflows may total $541 billion according to the Institute of International Finance. The flows have been accompanied by currency depreciations, stock […]

Hillary Clinton says women are “held to a totally different standard” in politics — and that it’s been that way since she first ran for office. “You’re expected to be both strong and vulnerable at the same time,” Clinton said in BuzzFeed’s “Another Round” podcast that was published online Sunday. “That’s not easy to do.” The Democratic […]

A few weeks ago Mike Huckabee made minor news by telling an interviewer that slavery has never been made unconstitutional.  Or, to be precise, he told radio interviewer Michael Medved that “the Dred Scott decision of 1857 still remains to this day the law of the land which says that black people aren’t fully human.”  […]

When one hears talk about the Wicksellian natural rate of interest, one hears that a real rate below the natural rate will cause inflation and economic heating. Then a a real rate above the natural rate will lead to disinflation and economic cooling. “Wicksellian analysis is an older tradition; it argues that there is at […]

I have been working (in my head) on a wonkish, fully cited, post on the fundamental fallacy embedded at the basis of neo-classical econ. But I am still engaged on reading the ur-texts (hint Karl Polanyi and a revisit to E.P. Thompson) so instead will just throw out my thesis and let the thoughtful critics […]

My previous post talked about how profits peaked 12 months ago coinciding with the economy hitting the effective demand limit. The idea is that profit margins will peak at the effective demand limit. Keynes stated this… “Thus the volume of employment is given by the point of intersection between the aggregate demand function and the […]

This was in my email box this morning, and I thought I’d pass it along: http://portuguesewaterdog.rescueme.org/California

By way of a video from Boom Bust (the best show for economics news), Barclays says that the 60 basis point drop in corporate profit margins in the S&P500 over the last 12 months is a sign that we are heading toward a recession. (see 22:30 minute point of video.) The Barclays’ message coincides exactly […]