EconoMonitor

Great Leap Forward

  • MMT-NEP Occupy Wall Street This Saturday

    UPDATE ON OWS: We are set to go on Saturday. As you’ve probably heard by now, Mayor Bloomberg has called off the troops. He was all set to evict the protestors from the park for “cleaning”. I think we all know what kind of cleaning he had in mind. He was taking this action after […]

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  • The European Troika’s Rescue Plan Will Fail. Time to Choose an Endgame

    Yet another rescue plan for the EMU is making its way through central Europe—raising the total funding available to the equivalent of $600 billion. Germany agreed to raise its contribution to the fund by more than $100 billion equivalent. However, Slovakia has vetoed the rescue and all eyes are now turned to a forthcoming October […]

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  • SLOGANS FOR SIGNS TO OCCUPY WALL STREET

    Here are slogans to put on your signs as you join those occupying Wall Street, demanding an end to the Bankster Fraud that is aided and abetted by Washington. Send your comments with other suggestions. (Thanks to MMT friends for suggestions, including especially Warren Mosler.) Many of the signs used by protestors have been quite […]

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  • Are the Big Banks Insolvent?

    I always get pushback whenever I say that the biggest half dozen banks are insolvent. I imagine most of that comes from bank employees hired for such purposes. But is it really plausible that they are effectively bankrupt? After all, Timothy Geithner has certified them A-OK after conducting stress tests. And they continue to pay […]

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  • The Most Subversive Sign Seen at the “Occupy Wall Street” Protest

    The CIA has been called-in to investigate. Some have said that this is a secret code, perhaps signaling comrades for an as-yet-unknown assault on Wall Street. Investigators believe the photo might have been taken inside one of the Wall Street firms, indicating the “Wall Street Twins” might have infiltrated the inner sanctions of Wall Street, […]

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  • Commodities Bubble Interview

    Some of you might enjoy my interview over at Benzinga Radio: Here is the audio and a transcript: Stresses Seen at the Outer Surface of the Ballooning Commodities Complex If the link does not work, go here: http://www.benzinga.com/content/1954634/stresses-seen-at-the-outer-surface-of-the-ballooning-commodities-complex

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  • Euro Toast, Anyone? The Meltdown Picks Up Speed

    Greece’s Finance Minister reportedly said that his nation cannot continue to service its debt and hinted that a fifty percent write-down is likely. Greece’s sovereign debt is 350 billion euros—so losses to holders would be 175 billion euros. That would just be the beginning, however. Nouriel Roubini has argued that the crisis will spread from […]

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  • Is the Commodities Bubble a Case of Index Speculation by Money Managers?

    In two previous blogs I have argued that we are nearing the end of the greatest speculative bubble of all time. And right on cue, commodities markets have started to collapse. To be sure, they will not collapse all at once. Smart money is pulling out, and dumb money will come back in to buy […]

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  • The Biggest Commodity Bubble of All Time: Response to Critics

    Ok, my short piece on the commodities bubble unleashed a flurry of comments—especially over at Naked Capitalism and Pragmatic Capitalist—but also a few here on the GLF. There were a lot of nice comments but also quite a few negative ones. In particular, several claimed I don’t know what I’m talking about. First, in a […]

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  • The Biggest Bubble of All Time: Commodities Market Speculation

    Sorry, this is a day late (but hopefully not a dollar short). Back in fall of 2008 I wrote a piece examining what was then the biggest bubble in human history: http://www.levyinstitute.org/pubs/ppb_96.pdf. Say what? You thought that was tulip bulb mania? Or, maybe the NASDAQ hi-tech hysteria? No, folks, those were child’s play. From 2004 […]

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