[Skip to the end] Magna Entertainment Corp. announces appointments of Interim Chief Executive Officer and Independent Director April 7 (Magna Enterntainment Group) — Magna Entertainment Corp. (“MEC” or the “Company”) (NASDAQ: MECA – News; TSX: MEC.A – News) today announced that it has appointed Greg Rayburn as Interim Chief Executive Officer of the Company, subject […]
Tag Archives: Mosler
Mosler to Obama- be careful what you wish for!
[Skip to the end] The last thing we need to do is encourage policies that empower billions of foreign consumers to compete with us for scarce real resources and diminish our real terms of trade. But that’s what happens with an administration that does not understand the monetary system. Obama seeks ‘Sustained’ Fiscal Stimulus in […]
Galbraith/Wray/Mosler submission for February 25
[Skip to the end] This is the paper being presented next week in DC. Please distribute. Comments welcome! This is how it begins: Comments on the FASB Exposure Drafts relating to “Comprehensive Long-term Projections for the U.S. Government (ED 1)” and to “Accounting for Social Insurance. (ED 2)” Testimony Submitted by: James K. Galbraith, Lloyd […]
2007-12-10 US Economic Releases
Pending Home Sales Total SA Pending Home Sales MoM (Oct) Survey -1.0% Actual 0.6% Prior 0.2% Revised 1.4% Speaks for itself. The fed has more than enough support from the actual data not to cut the FF rate. ♥
Fed’s best move
From the Fed’s theoretical framework, their best move is: ♦ Cut the discount rate to 4.5 ♦ Leave fed funds at 4.5 ♦ Remove the stigma from the window ♦ Allow term window borrowing over the turn ♦ Accept any ‘legal’ bank assets as collateral from member banks in good standing ♦ Allow member banks […]
Where the fed is vulnerable to the press
While Fed gov Fisher was correct in stating the Fed isn’t held hostage to market pricing of fed funds when it makes its decision, the Fed is vulnerable to manipulation when it comes to inflation expectations. Under mainstream theory, the ultimate cause of inflation is entirely attributed to the elevation of inflation expectations. The theory […]
Strong $ AND strong yuan?
Reminds me of the guy who loves money and wants to abolish taxes. I do think the push is now for a stronger $, however, and we’ll see tomorrow if the Fed is on board. As a friend of mine pointed out, a firming $ will likely trigger domestic and international portfolio reallocations back towards […]
UBS to sell stakes after $10 billion in subprime losses
Another example of a chunk of the losses being contained on Wall Street, and not leaking to Main Street this will now have zero effect on aggregate demand and there seems to be no business interruption. So as long as the losses stay spread out enough to not impair business operations and subdue aggregate demand […]
Balance of risks revisited
“I don’t think that’s fair because I don’t — again, I think I’ve been pretty clear in saying we have an economy in the US that is fundamentally healthy. I think the jobs numbers today showed an economy that is fundamentally healthy. We’ve got very strong demand outside of the US. We’ve got exports growing, […]
Paulson on the dollar
Maybe he knows the fed won’t cut the fed funds rate…. Paulson says economy healthy updated 10:33 p.m. ET, Fri., Dec. 7,2007 SOURCE: Reuters Treasury Secretary Henry Paulson said on Friday Washington was following a strong dollar policy and indicated he expected it to rebound, emphasizing the U.S. economy’s long-term strength should help the currency. […]