Monthly Archives: May 2011

latest conference slides

MMT and the Theory of the Monetary Circuit

Posted in Fed, Government Spending | Tagged |

Valance Chart Review

Have we hit a soft spot?

Posted in Deficit, Government Spending, Interest Rates, Treasury, USA, Valance |

Hoenig Urges Fed to Raise Interest Rates

This from the Fed’s longest serving policy maker, who remains hopelessly out of paradigm. (The ‘encourage individuals to save’ bit is particularly telling.) Hoenig Urges Fed to Raise Interest Rates May 28 (CNBC) —Federal Reserve Bank of Kansas City President … Continue reading

Posted in Fed |

Alwaleed: Saudis Seek Oil Price of $70-$80

This is the second time he’s said this in the last couple of weeks. If he’s right about the Saudis wanting that price, that’s where the price will go. Alwaleed: Saudis Seek Oil Price of $70-$80 May 29 (CNBC) —Prince … Continue reading

Posted in Comodities | Tagged |

G8: Deficit Terrorism Leads Agenda

In the land of the blind, the one eyed man gets his good eye poked out. While the statement regarding the US is perhaps a tad on the soft side, globally, political will and public support appears firmly in place … Continue reading

Posted in Deficit, Government Spending | Tagged , |

Juncker, EU minister quoted

Juncker, EU minister and erstwhile unofficial IMF policy spokeman: >    >   (email exchange) >    >   Referring to questions about Greece’s prospects for restructuring in the absence of a >   stabilization course: >    “If the donkey were a cat it could climb a tree. … Continue reading

Posted in ECB | Tagged , , |

Consumer Spending Cools More Than Estimated, Wages Gain Less, Profits and Manufacturing Decelerate

Not good for this part of the cycle, as we remain grossly overtaxed for the size govt we have Consumer Spending Cools More Than Estimated By Shobhana Chandra May 26 (Bloomberg) — Consumer spending cooled in the first quarter more … Continue reading

Posted in Deficit, Employment, Government Spending |

former President Clinton on the debt ceiling issue

Just in case you thought former President Clinton ever understood the monetary system: Bill Clinton: Brief Debt Default ‘Might Not Be Calamitous’ “We regret if there has been a misinterpretation of a comment President Clinton made about raising the debt … Continue reading

Posted in Deficit, Government Spending | Tagged |

ECB’s Smaghi quoted

*ECB’S BINI SMAGHI SAYS THERE’S NO `ALTERNATIVE’ TO REFORMS Yes there is *BINI SMAGHI: CENTRAL BANKS CAN’T SHORE UP CAPITAL IN BNK SYSTEM Yes they can *BINI SMAGHI SAYS CENTRAL BANKS CAN’T PROVIDE SOLVENCY SUPPORT Yes they can *BINI SMAGHI … Continue reading

Posted in ECB | Tagged |

China

RBS: China: Where is the slowdown? Very good, tends to support some of my ongoing themes: China will produce more of its own resources. Higher rates don’t bring down demand, and probably increase it. It’s the fiscal tightening, directly or … Continue reading

Posted in China, Currencies, Exports, Government Spending |