…declining debt to GDP ratios are unlikely to be achieved. As long as European governments continue to raise funds in the financial markets on favorable terms, the current situation remains…

…markets create new wealth, net worth, “savings,” money, out of thin air — just like deficit spending, but by a different mechanism. The markets create money too. Cross-posted at Asymptosis….

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…

…too disruptive and unwieldy, mostly because it might disturb private delivery markets. Here’s what the Commission said (emphasis added). In the judgment of the Commission, privatization of the Postal Service…

…Insurance profits, private insurers would find some markets unprofitable and so abandon them. In particular this was projected to happen in rural markets and second and third tier metro areas….

by Joseph Joyce Capital Flows and Financial Activity in Commodity Exporters Emerging markets and developing economies have struggled in recent years to regain the growth rates of the last decade…

…Nabar and Marcos Poplawski-Ribeiro, in a chapter in the IMF’s latest World Economic Outlook entitled “Roads Less Traveled: Growth in Emerging Markets and Developing Economies in a Complicated External Environment,”…

…and race. This has its costs but does help peopl understand the idea of universal human rights. I think history tends to support Simmel’s hypothesis. Another possibility is that markets…

…really seriously crashing during what Minsky labeled the “period of financial distress,” a term he adopted from the corporate finance literature. The US housing market had been falling since July,…

…emerging markets. Investment spending, which has fallen due to the falling price of capital and lower public investment, also contributes to low interest rates. Most of these factors, they claim,…