…one percent of the labor force). They forecast that second quarter GDP will be 0.375% lower. That means that they forecast that growth from fiscal year 2010 to fiscal year…

…fiscal austerity to actually drop the fiscal deficit, German prices must rise (I’ve written about this before). In my view, though, it’s more likely that the ECB attempts to quash…

…power (they have none at this point). Another way is to increase the fiscal deficit, to Mark Thoma’s point in The Fiscal Times this week. The correlation between the government…

Economist View provides a few reactions to the The Fiscal Commission’s “Report”: NY Times: Panel Weighs Deep Cuts in Tax Breaks and Spending Real Time Economics: Deficit Commission’s $200 Billion…

Simon Johnson says it so I don’t have to: Paul Ryan is not a fiscal conservative… This is further confirmed by the following: 1. Paul Ryan’s main short-term suggestion in…

…of the BCAL: Ireland, Spain, Portugal, Greece, and a couple of other Eurozone economies that are not labeled (Cyprus, Malta, and Slovak Republic). Finally, quadrants I and IV list economies…

by Dan Crawford (Rdan) (H/t Ken Houghton) Eric Leeper’s paper Monetary Science, Fiscal Alchemy∗, also found ungated in the Financial Times: Jackson Hole papers finally available, mentioned Angry Bear in…

by Rebecca Wilder GIIPS labour costs not moving in the “competitive” direction The GIIPS (Greece, Italy, Ireland, Portugal, and Spain) hope: exports. Fiscal austerity crimps the saving of the private…

The Financial Times points us to the G-20 communique abandoning stimulus because “they recognize financial market concerns”: Finance ministers from the world’s leading economies ripped up their support for fiscal…

…debt and ‘liability’. In fact the official name of the Commission is Bipartisan National Commission on Fiscal Responsibility and Reform and its mission statement does not explicitly reference ‘deficit’ at…