…hybrid eclipse of Nov. 3 will be a special case: here the eclipse starts out as annular, then after only 15-seconds it will transition to a total eclipse, and then it remains total up to the very end of the eclipse path. The last time this happened was on Nov. 20, 1854 and the next […]
As I said the other day, Mr. Krugman was saying that the economy was awash in excess savings. His words implied that the US was awash in excess savings. Then I said yesterday that the truth was in fact that the world was awash in excess savings. Yesterday, Mr. Krugman clarified his point and said… […]
And some vigilant independent watchdogs are tracking the negotiations with sources they trust, including Dean Baker and Yves Smith, who join Moyers & Company this week. Both have written extensively about the TPP and tell Bill the pact actually has very little to do with free trade. Instead, says Dean Baker, co-director of the Center […]
by Linda Beale Religious rights, taxes, and corporatism–whose rights are they? Part I The United States has a tradition of separation of church and state that goes back to the founding discussions that concluded that it would be inappropriate to establish a state religion because individuals should be at liberty to believe or not believe. […]
Part 1, Part 2, Part3 Yesterday I criticized Mr. Krugman for saying that savings were in excess. I said that personal savings is down, and domestic savings are not enough to cover investment such that the US has to borrow from abroad. This post will explore the relationship between domestic savings, domestic demand and the […]
From the Financial Times (pay wall I believe): Investors warn moves to curb climate change will hit fuel demand October 24, 2013 By Ed Crooks Investors managing assets worth about $3tn have written to the world’s largest oil, gas and coal companies, calling on them to prepare for a possible decline in demand for fossil […]
Mr. Krugman said yesterday that the economy is “awash in excess savings with nowhere to go”. If we are awash in excess savings, why do we borrow from foreigners? Let’s look at this equation to determine net borrowing from foreigners… Current Account deficit (net borrowing from abroad) is… (M – X) = (G – T) […]
In part #1 of this series on international flows, Norway’s trade deficit of the 1960’s was associated with foreign investment coming into their country. So the net trade deficit of the Current Account was matched by the net foreign investment surplus of the Capital and Financial Account. There is a principle in international income accounting… […]
We all make mistakes sometimes, but there is a lot of this in the news. Lifted from Robert’s Stochastic Thoughts: Dianne Barrette of Winter Haven Florida claims that instead of paying $54 a month for health insurance (no hospital coverage and a $ 50 deductible for office visits) she will have to pay $ 591 […]