Daily Archive: Friday, October 22, 2010

Old Greenspan Quote

The following is from an interview with Chairman Greenspan: RYAN: “Do you believe that personal retirement accounts can help us achieve solvency for the system and make those future retiree benefits more secure?” GREENSPAN: “Well, I wouldn’t say that the pay-as-you-go benefits are insecure, in the sense that there’s nothing to prevent ...Read More

Fed Financial Obligations Ratio

This includes home owners and renters, and includes rent as a financial obligation. And it’s gone down further since the June data point as the Federal budget deficit remains at around 9% of gdp. The general drift higher over time is probably due fewer ‘no debt’ people rather than people with debt ...Read More

press release

Senate Candidate Bets Congress $100 Million That the U.S. Government Cannot Run out of Money Warren Mosler Offers $100 Million of His Own Money to Pay Down the Federal Deficit If Any Lawmaker Can Prove Him Wrong WATERBURY, Conn.–(BUSINESS WIRE)–Warren Mosler, Connecticut’s Independent candidate for U.S. Senate today announced that it is ...Read More

Manufacturing industry, change in payrolls

The more we beat ourselves up with high unemployment, lower wages, and a weak economy, the more manufacturing jobs we’ll get. Manufacturing industry, change in payrolls: 2008: -904,000 2009: -1,288,000 2010: 136,000 ...Read More

Germany’s Econ Minister Brüderle hits back at French and US criticism

The don’t know the elevated fiscal deficits due to their ‘automatic Keynesian stabilizers’ did the trick, including (temporarily) weakening euro? So why are they spewing this nonsense? Class warfare to keep union demands in check and domestic demand suppressed so the well off can optimize their personal real terms of trade? Expect ...Read More

Geithner’s Letter to G-20 on ‘External Imbalances’

They’ve always been completely out of paradigm on domestic federal budgets. But this time around their ignorance has already been costly beyond imagination and looks to only get more so. Geithner is just symptomatic of all that’s wrong with the mainstream’s understanding of monetary operations. And I haven’t heard a single mainstream ...Read More