Monthly Archive:: December 2011

Foreign Central Banks Cut Treasury Holdings by Record

And Tsy yields at record lows! Even with $trillion federal deficits! Even with the S and P downgrade! Even with large foreign holdings of US Treasury securities! Who would have thought? ;) Happy New Year to all!!! Foreign Central Banks Cut Treasury Holdings by Record Holdings of U.S. Treasurys by foreign central ...Read More

ECB bond buying for next year

For the coming year I’ll be watching to see if the ECB buys bonds only on rate spikes to keep them from rising further, or on a continuous basis regardless of yields. I suspect the former. It’s the difference between watering a flower only as it’s about to die, or on a ...Read More

Bill Mitchell’s most excellent (long) post

http://bilbo.economicoutlook.net/blog/?p=17528 ...Read More

Heterodox economics: Marginal revolutionaries | The Economist

http://www.economist.com/node/21542174 ...Read More

John Carney on MMT and Austrian Economics

Another well stated piece from John Carney on the CNBC website: Modern Monetary Theory and Austrian Economics By John Carney Dec 27 (CNBC) — When I began blogging about Modern Monetary Theory, I knew I risked alienating or at least annoying some of my Austrian Economics friends. The Austrians are a combative ...Read More

UK- Resurgent self-employment soars to 75-year high

That includes selling trinkents and services to the higher income foreign tourists and residents. I used to call it Sultan fanning. It is not a sign of prosperty… Resurgent self-employment soars to 75-year high By Richard Tyler Dec 26 (Telegraph) — Britain is witnessing a renaissance in self-employment on a scale not ...Read More

Noda’s ‘Urgent’ Task Is Tax Rise as Japan Debt Load Swells

Noda’s ‘Urgent’ Task Is Tax Rise as Japan Debt Load Swells Dec 26 (Bloomberg) — Prime Minister Yoshihiko Noda’s next task is securing support for a higher sales tax after Japan’s budget for the next fiscal year showed a record dependence on borrowing to fund government spending. The government will sell 44.2 ...Read More

We WON!!! MMT got everything right…EVERYTHING!!!

We WON!!! MMT got everything right…EVERYTHING!!! ...Read More

Bini Smaghi Says ECB Should Use QE If Deflation Risk Arises

As if QE is an inflationary bias. They are all clueless. MMT to the ECB: QE addresses the solvency issue, not ‘deflation’ or aggregate demand issues. Bini Smaghi Says ECB Should Use QE If Deflation Risk Arises By Gabi Thesing Dec 23 (Bloomberg) — European Central Bank Executive Board member Lorenzo Bini ...Read More

Monetary Theory, Crony Capitalism and the Tea Party

Just posted on CNBC: Monetary Theory, Crony Capitalism and the Tea Party By John Carney Dec 21 (CNBC) — The past few years have taught us a lot about the effects and operations of monetary policy in the United States. The Federal government responded to the economic downturn by spending enormous amounts ...Read More