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MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.

Archive for January 4th, 2011

‘New Captains of Industry’ Hosts Economic Roundtable with Mosler, Wray, and Norman

Posted by WARREN MOSLER on 4th January 2011

From George Jarkesy:

http://www.prnewswire.com/news-releases/new-captains-of-industry-hosts-economic-roundtable-focused-on-us-budget-and-trade-deficits-112815269.html

Posted in Email | 28 Comments »

Brazil’s Mantega

Posted by WARREN MOSLER on 4th January 2011

The Brazilian miracle-

Tight enough fiscal/low enough domestic demand for an appreciating currency,

FX buying to keep it there and support the exporters with lower real wages

= ‘good looking’ Financials at the expense of the overall real standard of living

*DJ Brazil’s Mantega: Dollar Weaker Globally On US Econ Improvement
*DJ Brazil’s Mantega: Govt Ready To Take Measures Against Strong Real
*DJ Brazil’s Mantega: Govt Preparing Reduction Of Spending
*DJ Brazil’s Mantega: Govt Starts Year With Low Spending
*DJ Brazil’s Mantega: Current Dollar Level Hurts Exports
*DJ Brazil’s Mantega: Won’t Announce Any Currency Measures Today
*DJ Brazil’s Mantega: Will Seek To Protect Trade Surplus
*DJ Brazil’s Mantega: Will Take Measures To Maintain Trade Surplus
*DJ Brazil’s Mantega: We’ll Act In Both Forex And Commercial Areas
*DJ Brazil’s Mantega: We Have Authorization Of G-20 To Act In Forex
*DJ Brazil’s Mantega: Haven’t Defined Size Of Budget Cuts

The miracle is the leadership gets the population to support them.

Posted in Emerging Markets | 5 Comments »

Saudi Crude Oil Output

Posted by WARREN MOSLER on 4th January 2011

Crude oil prices continue to rise with no apparent increase in net demand, as evidenced by Saudi output.

No telling how high the Saudis want it to go, but higher prices are not good for the US dollar or the US economy.

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Posted in Oil | 1 Comment »