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Governor of the Bank of England tells borrowers to expect rates to be half the pre-crisis level of 5pc in three years' time...
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Dear Reader,

Doug French here, filling in for Dan Steinhart, who is taking a well-deserved vacation this week. Today’s subject—the minimum wage—is on the minds of many politicians and voters around the country. The latest poll from Reason-Rupe says 67% of Americans favor an increase in the minimum to $10.10 per hour from $7.25.

The booboisie isn’t

...
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To Consolidate or Not To Consolidate, that is the Question (or maybe it isn’t)

By L. Randall Wray

This is another short post on MMT, a sort of follow-up to my post from a couple of days ago. There was an interesting response to various comments on my piece, which was posted up on Mike Norman’s website.

We got the typical: “oh you MMTers always want t...

Friday, 27 June 2014 |

The Roundup for June 26th, 2014

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Hey folks, how are you doing this Thursday? What’s on your mind?

International Politics

Overall

- NATO’s Secretary General asserts Russia is using spies to infiltrate environmental movements against fracking to further Russia’s goal. Keep in mind the Secretary General presented no evidence .

- The stories of undocumented children...

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All sorts of promises, explicit and implicit, were issued to win votes. All the promises are now empty, and we might as deal with this reality head-on.

Here's what often happens when people start discussing Baby Boomers, Gen-X and Gen-Y online:  rash generalizations are freely flung, everyone gets offended and nothing remotely productive...
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FPC introduces caps on mortgage borrowing to head off a housing bubble...
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Democratizing Government Spending in an Era of Climate Change: Decision Criteria and Spending Priority Lists – Pt. 2

By Michael Hoexter

General Goals and Decision Criteria for Government Fiscal Policy

In the era of climate change, a worldwide social and economic disaster, the valuation of real resources, especially atmospheric resources and energy...

Thursday, 26 June 2014 |

Daily Pfennig: Big Game Day!

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In This Issue.

*  1st QTR GDP leaves a hickey on U.S. economy!
*  Durables also leave a negative mark.
*  Kiwi within 1-cent of all-time high!
*  Germany - USA today.

And Now. Today's A Pfennig For Your Thoughts.

Big Game Day!

Good Day! .  And a Tub Thumpin' Thursday to you! I'm deader than a doornail this morning, so maybe something will get my

...
Thursday, 26 June 2014 |

The Roundup for June 25th, 2014

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Howdy folks, it’s a Wednesday today so the week is half way done!

International Politics

Overall

- As in the U.S., the issue of racism against Palestinians in Israel is a topic major media outlets either refuse to discuss or ignore

- What Vladimir Putin is doing is playing a chess game and attempting to avoid war, which is different from...

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 This happy story is wrong on multiple counts.

The conventional view of the Baby Boomers' retirement is a happy story:  since we're living longer and remaining productive longer, Boomers will not be as much of a burden on Gen-X and Gen-Y as doom-and-gloomers assume.

Not only are Boomers staying productive longer, they will draw upon...

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