HowtheEurozoneMightEnd http://www.nakedcapitalism.com/2013/10/how–the–eurozone–might–end.html Yves here. This post by Yanis Varoufakis gives a plausible scenario as to how the Eurozone could unravel. Most commentators believe the country that is most likely to rupture it is Italy. Italy has a primarybudgetsurplus and also has a high saving rate, with the result that even under the gold-standard-like Eurozone, it still funds most of its debt issuance internally. Notice how … Seguir leyendo How the Eurozone Might End

EconomicConfidencePlummets – NYTimes.com http://mobile.nytimes.com/blogs/economix/2013/10/04/economic–confidence–plummets/?_r=0& shared via http://feedly.com Seguir leyendo Economic Confidence Plummets – NYTimes.com

La decadencia de las élites http://crashoil.blogspot.com/2013/10/la-decadencia-de-las-elites.html Queridos lectores, Como muchos de Vds. sabrán, hace unas semanas la capital de España, Madrid, presentaba (creo que por tercera vez) su candidatura para albergar una futura edición de los Juegos Olímpicos. A pesar de la fanfarria mediática que daba por segura la elección de la capital del Reino para albergar este magno evento de gran proyección internacional, lo … Seguir leyendo La decadencia de las élites

Jamie Galbraith: GovernmentDoesn’tHavetoBorrowtoSpend http://feedly.com/k/GDtxtu When the Treasury writes a check, a bank credits an account. That’s money creation. Treasury bonds absorb money, but aren’t needed. Jamie Galbraith on endogenousmoney and US Debt in NYTimes: The debt ceiling was enacted in 1917 for one purpose: to fool the rubes back home. Just as Congress started running up debts to pay for the war, they voted in … Seguir leyendo Jamie Galbraith: Government Doesn’t Have to Borrow to Spend

SteveKeenon Non-EquilibriumEconomics: Lecture 2 http://socialdemocracy21stcentury.blogspot.com/2013/10/steve–keen–on-non-equilibrium–economics_2.html This is Lec­ture 2 (“Lec­ture 2: The Found­ing Fathers of Dis­e­qui­lib­rium Economics”) of a series of 5 lectures by Steve Keen on non-equilibrium economics, given in Quito (Ecuador) at FLACSO (the Latin American Social Sciences Institute) in September, 2013. In this second lecture, Keen examines Marx, Schum­peter, Fisher, Keynes, Michał Kalecki, and Min­sky as dis­e­qui­lib­rium economists. shared via http://feedly.com Seguir leyendo Steve Keen on Non-Equilibrium Economics: Lecture 2

ISMManufacturingindexincreasesinSeptemberto 56.2 http://feedly.com/k/18L1KQl The ISM manufacturing index indicated faster expansion in September. The PMI was at 56.2% in September, up from 55.7% in August. The employment index was at 55.4%, up from 53.3%, and the new orders index was at 60.5%, down from 63.2% in August. From the Institute for Supply Management: August 2013 ManufacturingISMReportOnBusiness® Economic activity in the manufacturing sector expanded in September for … Seguir leyendo ISM Manufacturing index increases in September to 56.2

CoreLogic: HousePricesup 12.4% Year-over-yearinAugust http://feedly.com/k/19kcYcV Notes: ThisCoreLogicHousePriceIndexreportisforAugust. The recent Case-Shiller index release was for July. The CoreLogic HPI is a three month weighted average and is not seasonally adjusted (NSA). From CoreLogic: CoreLogicReportsHomePricesRiseby 12.4 PercentYearOverYearinAugust Home prices nationwide, including distressed sales, increased 12.4 percent on a year-over-year basis in August 2013 compared to August 2012. This change represents the 18th consecutive monthly year-over-year increase in … Seguir leyendo CoreLogic: House Prices up 12.4% Year-over-year in August

Global GrowthHopesFade As BalticDryDropsMostIn 11 Months http://feedly.com/k/1c1ynyq While the recent surge in the Baltic Dry Index was headlined as ‘proof’ that the global recovery was ‘on’, China is back, and every retiree should BTFATH, werecentlynoted, allwasnotatallitseemsonthesurfaceofthis data. Fast forward a few days and we have had 2 China PMI misses (notably disappointing relative to their Flash prints) and now the BalticDry has plungedbyitsmostin 11 monthsoverthelast … Seguir leyendo Global Growth Hopes Fade As Baltic Dry Drops Most In 11 Months

Grecia: “El padrino de Aurora Dorada" http://feedly.com/k/16d8bNS Las escuchas telefónicas efectuadas por los servicios secretos para vigilar a Aurora Dorada demuestran que Yannis Lagos, uno de los diputados del partido neonazi, fue informado del asesinato inminente del rapero Pavlos Fyssas, en la noche del 18 al 19 de septiembre. Detenido el 28 de septiembre con otros dirigentes y miembros de su partido, Lagos está igualmente … Seguir leyendo Grecia: “El padrino de Aurora Dorada”

SteveKeenon Non-EquilibriumEconomics: Lecture 1 http://feedly.com/k/16d7K63 This is Lec­ture 1 (“Why Eco­nom­ics Must be a Dis­e­qui­lib­rium Discipline”) of a series of 5 lectures by Steve Keen on non-equilibrium economics, given in Quito (Ecuador) at FLACSO (the Latin American Social Sciences Institute) in September, 2013. Perhaps the title is meant to evoke the classicmonographofNicholasKaldorcalledEconomicsWithoutEquilibrium (Armonk, N.Y., 1985), and Steve Keen does not disappoint in his discussion of … Seguir leyendo Steve Keen on Non-Equilibrium Economics: Lecture 1