Daily Archive: Wednesday, June 1, 2011

What Happens When the Government Tightens its Belt?

What Happens When the Government Tightens its Belt? By Stephanie Kelton May 27 — Imagine two people sitting on opposite ends of a 15-foot teeter-totter. The laws of physics dictate that the seesaw will balance if the product of the first mass (w1) and its distance (d1) from the fulcrum (i.e. the ...Read More

U.K. Daily – CIPS May Manufacturing Index Falls to 20-Month Low

My Q2 guestimate for the tipping point may not have been too far off U.K. CIPS May Manufacturing Index Falls to 20-Month Low (Bloomberg) A U.K. manufacturing index, based on a survey by Markit Economics and the Chartered Institute of Purchasing and Supply, declined to 52.1 in May from a downwardly revised ...Read More

Mortgage Applications Fell Last Week

Looks like those low rates aren’t all they’re cracked up to be. Once again, we need: a FICA suspension $500 per capita fed distribution to the state govts $8/hr federally funded transition job for anyone willing and able to work And institutional structure that facilitates GDP growth with less energy consumption Mortgage ...Read More