Why Soc Sec TF Balances Grow in a Time of Recession
…systematic cash deficits in excess of $120 billion a year. Forever. Other wise the insidious effects of compound interest continue to work on the balances. We are in a deep…
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The Fed Is Not Printing Money: Two Updates
I’d like to reply to one confusion and one set of pushbacks on yesterday’s post: Currency and Reserve Balances I buried one fact: banks can reduce total Fed reserve balances…
Why Economists Don’t Know How to Think about Wealth (or Profits)
…12.1 to Monetary Economics . The graph looks like this, in a three-sector presentation: The common takeaway: government deficit spending (plus/minus trade imbalances) equals private-sector “surplus.” Government deficit spending is…
Why Economists Don’t Know How to Think about Wealth (or Profits)
…accounting structures. Here are just a few of the Big Economic Questions whose answers appear very differently within a complete accounting structure: Sectoral balances. The “sectoral-balances” equation and its accompanying…
The re-balancing of trade within the Euro area: some improvement but not enough
…trade balances illustrated below include only trade flows within the Euro area.) It should be noted that this is an incomplete picture, since there are 17 Euro area countries. However,…
Is Treasury Secretary Mnuchin Right About The Impact Of The Dollar On US Trade?
…leads to lower trade deficits, noting experience in the 1980s especially when a strong dollar led to a soaring o the US trade deficit that fed into a sharp decline…
Trump on Our Trade Surplus/Deficit With Canada
…timber, and when you do we’ll lost $17 billion. It’s incredible. Menzie provides this source on our 2016 bilateral trade surplus with Canada: U.S. goods and services trade with Canada…
An Insecure Supply and Supply Chain Made Even More Insecure
…is seeking agreements with India and Indonesia, pushing forward another with the South American trade bloc Mercosur, holding trade talks with China, and considering joining the Comprehensive and Progressive Agreement…
December Trade Deficit Up 1.8%, 27% for 2021
RJS, MarketPlace 666, US Trade Deficit Rose 1.8% in December and up 27% in 2021 Our trade deficit rose 1.8% in December as the value of both our exports and…
About That, er, Monetary Expansion…
Brad DeLong has a spat with Scott Sumner: The IS-LM model led economic historians to argue money was easy in 1929-30, because rates fell sharply. It led modern Keynesians to…