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China vs the Trilemma, Price Level Path, Balance Sheet Confusion, and FOMC Debates

Here are some assorted macro musings from the past week: 1. Been there, done that, and it did not end well China edition. Once again, China forgets there is a macroeconomic trilemma. From the Wall Street Journal: China’s central bank...Show More Summary

Why Withdrawal or “Tiny” Living Isn’t a Solution to Sustainability

Tiny but isolated living may not be doing the planet as much of a favor as many like to believe.

The New New Deal

The myth of the virtues of markets is past its sell-by date. Time for a new guiding principle, and the New Deal may be the place to start.

Bank bail-in: The effects on credit supply and real economy

The new resolution and bail-in regime in Europe hypothetically lets banks fail without resorting to public funding. This column examines the effects of the bail-in of the Portuguese Banco Espírito Santo. Existing borrowers from the banks...Show More Summary

Economic ideas you should forget

It is high time to forget some economic ideas that hinder progress in the field. Some examples include the assumption that GDP is the best way to measure economic progress, or the belief that economic growth will eventually improve the welfare of the population as a whole. Show More Summary

Economic Consequences of More Europe

As the U.S dollar fades behind after a muddled Trump-trade, the euro gains investor attention. Here's why "More Europe" will be the economic policy for months and years to come... Discover what's ahead for Europe... The post Economic Consequences of More Europe was originally published at The Wall Street Examiner. Follow the money!

Fear! Selling Conditions for Housing Highest Since 2007 (University of Michigan Survey of Consumers)

The Universtity of Michigan has released their latest Survey of Consumers. They find that consumers think that the conditions for selling a home is the highest since 2007. The post Fear! Selling Conditions for Housing Highest Since 2007 (University of Michigan Survey of Consumers) was originally published at The Wall Street Examiner. Follow the money!

Q1 US GDP Growth Rises To 1.2% QoQ in the Second Estimate (Personal Consumption Growth “Upgraded,” But Still Worst Since Q4 2009)

Today, the Bureau of Economic Analysys releaseed their  “second” estimate for the first quarter US gross domestic product (GDP), based on more complete data that the preliminary Q1 GDP estimate 0f 0.7% QoQ. The post Q1 US GDP GrowthShow More Summary

The Disappeared Economy

At the end of April 2015, the Commerce Department reported that unadjusted durable goods shipments (ex transportation) had totaled $177.6 billion in the month of March 2015. That represented just a half of one percent year-over-yearShow More Summary

Simple (economic) Math

The essence of capitalism is not strictly capital. In the modern sense, the word capital has taken on other meanings, often where money is given as a substitute for it. When speaking about things like “hot money”, for instance, you wouldn’t...Show More Summary

The Fed Will Blink

Bill Bonner reveals that central banking was once an honest profession and much more. Read on... The post The Fed Will Blink was originally published at The Wall Street Examiner. Follow the money!

A New Mankiw Publication

This one I am particularly proud of, though I cannot claim to fully understand it.

Vehicle Sales Forecast: Sales below 17 Million SAAR in May

The automakers will report May vehicle sales on Thursday, June 1st.Note: There were 25 selling days in May 2017, up from 24 in May 2016.From Reuters: U.S. auto sales seen up 0.5 percent in May: JD Power and LMC U.S. auto sales in May...Show More Summary

Weekend Reading: The Deleted Passage of the Declaration of Independence (1776)

The Black Past: Remembered and Reclaimed: _The Deleted Passage of the Declaration of Independence (1776) _: "When Thomas Jefferson included a passage attacking slavery in his draft of the Declaration of Independence it initiated the most intense debate... Show More Summary

Weekend Reading: RIch Landrieu: Address on Confederate Monuments

Mitch Landrieu: _Transcript of Address on Confederate Monuments_: "Thank you for coming... >...The soul of our beloved City is deeply rooted in a history that has evolved over thousands of years; rooted in a diverse people who have been here together every step of the way–for both good and for ill. Show More Summary

Where US Manufacturing Jobs Really Went: No Longer So Fresh at Project Syndicate

[Project Syndicate][]: J. Bradford DeLong: _[Where US Manufacturing Jobs Really Went][1]_: In the two decades from 1979 to 1999, the number of manufacturing jobs in the United States drifted downward, from 19 million to 17 million. But over the next decade, between 1999 and 2009, the number plummeted to 12 million. Show More Summary

Procrastinating on May 26, 2017

Over at [Equitable Growth]( Must- and Should-Reads: The Future of Education and Lifelong Learning: DeLong Opening DRAFT | Equitable Growth The Benefits of Free Trade: Time to Fly My Neoliberal Freak Flag...Show More Summary

The Future of Education and Lifelong Learning: DeLong Opening DRAFT

Harvard Class of 1982 35th Reunion :: Science Center B :: Saturday, May 27, 2018, 10:45-12:00 noon Seth Lloyd, MIT: Moderator Brad DeLong, U.C. Berkeley Ivonne Garcia, Kenyon Noel Michele Holbrook, Harvard William Sakas, CUNY Carol...Show More Summary

The Good News on Trumpcare: Hit to Private Insurers Minimized

As we know, the goal of the Trump administration is to redistribute as much income as quickly as possible to his family, friends, and people like his family and friends. This is why the centerpiece of his health care reform is more than...Show More Summary

"Ninety-Five Regulatory Experts Express Concerns about Trump Administration Reforms"

Joshua Linn and Alan Krupnick: Many economists and other professionals looked on in dismay when President Trump issued executive orders and supporting guidance documents that appear to target regulations for elimination based primarily on their costs rather than a balanced assessment that includes benefits. Accordingly, we joined 93 economists and...

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