Category Archives: central banks

Should Ontario Become an Independent Country?

Ok just forget how crazy the question sounds.  The recent wrangling between Ontario and Alberta over the value of the Canadian dollar, oil output and the decline of manufacturing in Ontario (and other provinces east of Ontario) raises some reasonable … Continue reading

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Delicious and dangerous irony: China to buy Italian bonds

How much of a disaster is the EMU?  Look no further than the spectacle of the Italians going cap in hand to the Chinese for a bail out.  The fact that the Italians are tapping the Chinese is not the … Continue reading

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The irony of greed: The end game for Neoliberalism?

The global economy is in the toilet and the Boomers’ representatives are chanting: “flush, flush, flush.”  Me? I am eating cigarettes and wine while admiring the remarkable consistency in the myopia of all of it. In the name of fiscal … Continue reading

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The love which dare not speak its name

People who would want to avoid reading my dissertation or anything about neoliberalism but nonetheless would like to have some idea about what has been going on in the world of public policy and economic policy in particular ought to … Continue reading

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Understanding Corporate Tax Cuts: embracing conventional wisdom and coming to radical conclusions

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Warning this post contains scenes of graphic illustration, it is not intended for short attention spans or people who can not locate coordinates in two dimensional space.  Viewer patience is therefore highly advised. The debate on corporate income taxes brings … Continue reading

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No. 6: Low interest rates anywhere and everywhere cause inflation

Ok this is a bit of pinball intro as I bounced first to the PEF to be greeted by a blog post by Erin Weir recommending we all read Nick Rowe poking at the President of the Minneapolis Federal Reserve … Continue reading

Posted in central banks, deflation, Neoclassical | 4 Comments

Incomplete metaphors

Over at WCI Nick Rowe has a post up about central banks and economic activity. There is a lesson there, but not the one Nick thinks. If a house has a good thermostat, we should observe a strong negative correlation … Continue reading

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Rowe V Krugman V reality

Personally I think blood sports are pornographic. Krugman is a persistent pessimist on the future track of US growth. Nick Rowe (the boat) is dipping his oar formally on the optimistic edge of the ram. But surprisingly for apparently Keynesian … Continue reading

Posted in central banks, economic crisis | 1 Comment

Ideological Capture and the Death of the Functionalist Capitalist State

Marx and Engles once famously quipped in an obscure text somewhere that “the executive of the modern state is but a committee for managing the common affairs of the whole bourgeoisie.” In modern theory this economistic and functionalist rendering of … Continue reading

Posted in American politics, Canadian Politics, Capitalist Consupmtion in the Modern Age, central banks, Class War, economic crisis, Free Markets, Neoliberalism, unemployment | 1 Comment

Extend and pretend

It is bad when the most pertinent of commentaries gets no response. What is ironic here is that at the micro level banks are telling their public stop pretending we are not extending even though they face near zero costs … Continue reading

Posted in American politics, Budgets, Canadian Politics, central banks, Class War, economic crisis, Financial Regulation, Free Markets, Gun control, inflation, Neoliberalism, political humour, unemployment, US economy | Leave a comment