By Russell Lamberti Robert Blumen has an excellent post at Mises.org titled “Say’s Law and the Permanent Recession” which we linked to last week. Blumen’s basic case is that the US economy has effectively been in a prolonged recession since around the turn of the century. This article is not about Blumen’s “permanent recession” thesis per [...]
By Russell Lamberti This week, The Week ran an opinion piece by John Aziz which argues that America (and all other nations for that matter) should keep borrowing until investors no longer want to lend to them. To this end, it is argued, the US should scrap its debt ceiling because the only debt ceiling it needs [...]
The US Federal government has been forced to shut down non-essential services and furlough around one third of its employees as of 1 October 2013. The partisan infighting in the US Congress means that once again it has failed to pass a formal annual budget, legally requiring a mass shutdown of government services until the [...]
Since the financial crisis in 2008/09 the Federal Reserve has printed trillions of dollars and purchased assets with them, mostly US government bonds and mortgage-backed securities. This has caused the assets on the Fed’s balance sheet to swell by around $2.5 trillion since the collapse of Lehman Brothers. Operations of this magnitude have caused the [...]
By Russell Lamberti
The Greek economy is in a fatal debt trap and crashing. It doesn’t have to be this way for much longer. There are a set of bold steps that Greece could take that would not only set it on the path to stability, but outright prosperity and a genuine and sustained economic boom.