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Losing Ground In Flyover America, Part 3

As we indicated in Part 2, the Fed’s crusade to pump-up inflation toward its 2.00% target by hammering-down interest rates to the so-called zero bound is economically lethal. The former destroys the purchasing power of main street wages while...Show More Summary

Random thoughts on globalization

(May 28, 2016 04:31 PM, by Scott Sumner) Here's Scott Alexander: An article by Freddie deBoer in this month's Current Affairs proposes "Journalistic Self-Outsourcing". DeBoer notes that lots of journalists and intellectuals suggest that protectionism and other anti-globalization policies are immoral. For example, Zack Beauchamp of Vox calls... (0 COMMENTS)

Populist Backlash and Political Economy

Live from High Above the Former Iron Curtain: The very sharp Dani Rodrik: Dani Rodrik: [The Politics of Anger](https://www.project-syndicate.org/commentary/the-politics-of-anger-by-dani-rodrik-2016-03): "Perhaps the only surprising thing about the populist backlash that has overwhelmed the politics of many advanced democracies... Show More Summary

Stocks Reach Critical Inflection Point- Here’s What to Look For

The 13 week cycle turned up last week. That at least kept the 6 month cycle in a flat down phase. Cycle screening data was much stronger on the week. That resulted in a breakout in the aggregate measure. Market Indicators Update Daily...Show More Summary

May 2016: Unofficial Problem Bank list declines to 205 Institutions

This is an unofficial list of Problem Banks compiled only from public sources.Here is the unofficial problem bank list for May 2016. Changes and comments from surferdude808: Update on the Unofficial Problem Bank List for May 2016. During the month, the list fell from 214 institutions to 205 after 12 removals and three additions. Show More Summary

How Bank Networks Amplify Financial Crises: Evidence from the Great Depression

On the road headed to my dad's 80th birthday party, so just a quick one for now. This is from VoxEU: How bank networks amplify financial crises: Evidence from the Great Depression, by Kris James Mitchener and Gary Richardson: How...

Costing the Forcible Removal of Undocumented Immigrants and Barring Entrance of Muslim Individuals from the Homeland

Republican presidential candidate Donald Trump has made two specific proposals purportedly aimed at safeguarding the Homeland. Presumably, these will be incorporated into the Republican party platform. How would those proposals be implemented...Show More Summary

More Nonsense on China's Demography

It is amazing how often we hear that China is experiencing some sort of crisis because of its aging population. This is supposed to lead to a situation in which it won't have enough workers to support an aging population. If folks have been following events in China recently its big problem is too few jobs and unemployment. Show More Summary

Why No Byzantine Road to Modernity?

The extremely-sharp Branko Milanovic asks a very good question that I had never considered before: Branko Minanovic: [Economic Reflections on the Fall of Constantinople](http://glineq.blogspot.com/2016/05/economic-reflections-on-fall-of.html): This Sunday, May 29 marks the anniversary of the Fall of Constantinople in 1453... Show More Summary

What I’ve been reading in May

Angela Duckworth’s new book Grit (US) (UK) – you can read some of my thoughts here. Enjoyable, but not the best book I read this month; if you liked the TED talk you’ll like the book. Felix Martin’s superb book Money (US) (UK) – some wonderful stories about the evolution of key pieces of financial technology from the tally […]

How to plan a reasonably priced trip this summer

While many Americans do not get paid vacation, those who do don't take advantage of it

MoneyWatch: Survey shows Americans' feelings on economy; Where are the best Memorial Day sales?

The University of Michigan says its latest index of consumer sentiment has good news for the economy

Weekend Reading: Prakash Loungani on the Extremely Wise Dani Rodrik: Rebel with a Cause

Prakash Loungani: [Rebel with a Cause](http://www.imf.org/external/pubs/ft/fandd/2016/06/people.htm): >The triumph of markets over the state appeared almost complete in the early 1990s. The collapse of the Soviet Union and the fall of the Berlin Wall had discredited the role of the state in commanding the economic and political life of citizens. Show More Summary

Procrastinating on May 28, 2016

Over at [Equitable Growth](http://EquitableGrowth.org): Must-Reads: [Helicopter Money!: No Longer So Live at Project Syndicate - Equitable Growth](http://equitablegrowth.org/helicopter-money-no-longer-so-live-at-project-syndicate/)Show More Summary

Liveblogging World War I: May 29, 1916: Jutland

Sir John Jellicoe (1936): [Errors Made in the Jutland Battle](http://www.dreadnoughtproject.org/tfs/index.php/Errors_Made_in_the_Jutland_Battle): >IN CHRONOLOGICAL ORDER AND BY WHOM MADE >Beatty. At 2.20 p.m. the Galatea reported by wireless the presence of two cruisers, probably hostile, bearing ESE., course unknown. Show More Summary

Labour's economic answers

Tony Blair says of the Labour leadership: “These guys aren't providing answers, not on the economy, not on foreign policy.” I don’t want to discuss foreign policy – others might have opinions on Mr Blair’s ability to judge that –...

Liveblogging World War I: May 28, 2016: Jutland

Andrew Gordon: [The Rules of the Game: Jutland and British Naval Command](http://amzn.to/1ViR2fd): >There is said to have been an increase in tension in naval circles in the early months of 1916: a sense of calm before the storm. The...Show More Summary

Schedule for Week of May 29, 2016

The key report this week is the May employment report on Friday.Other key indicators include May vehicle sales, the May ISM manufacturing and non-manufacturing indexes, and the April trade deficit. ----- Monday, May 30th ----- All US markets will be closed in observance of Memorial Day. Show More Summary

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