Since the Arab spring has started it is as if a big chunk of the western world all of a sudden got glasses. They realize that these countries that in many cases are being ruled by dictators should have sanctions put on them. Last week the EU joined us …
Continue readingTag: europe
Impolitical: Shortsighted
This may come back to bite: “Harper says no Canadian money for European bailout.” Pay some now or will we be paying much more later? We’ll see. Great photo accompanying that story too. That look on Obama’s face as he interacts with Harper is priceless.
Continue readingExcited Delirium: Another Gentle Coup …
Rumour has it that Greece leader Papandreou’s days may be numbered. Is it because he believes in democracy or because he doesn’t want to cave to lenders?
Continue readingThe Progressive Economics Forum: A New Round of Euro Austerity
The Euro deal at least averted an immediate banking crisis and induced temporary market euphoria, but it is not going to provide a lasting solution to the euro sovereign debt crisis because it will block any lasting recovery for the euro economy. It is worth reading the text of the deal, which represents a major […]
Continue readingThe Progressive Economics Forum: The Euro Crisis
I don’t have much new to add to what is surely the key economic issue of the hour beyond pointing to useful commentary by Larry Elliott in the Guardian and Martin Wolf in the FT. I think Wolf is right that the key to resolving the crisis is to make the ECB the backstop for […]
Continue readingThe Progressive Economics Forum: What CETA Would Mean for Canada’s Auto Industry
Canadian free trade negotiators are going all-out to get a deal with the EU on a new free trade agreement. The Harper government wants a deal badly for largely symbolic and ideological purposes, to show that the free trade agenda is back on track under this “stable majority government.” Many valid concerns have been raised […]
Continue readingTrashy's World: For my economics-savvy friends…
… and I have a few… Tell me something. Greece. Italy. Portugal. Et cetera. All that economic shit-storm stuff that is happening in those corners of the planet… I see the main root of the problem being the consequence of horribly enforced tax collection regimes. Tax evasion has been a hobby in these countries – […]
Continue readingThe Progressive Economics Forum: Who’s Bailing Whom? Challenging the Private Credit System
The time since 2008 has been a crucial historical moment for progressive economists to pull back the green curtain that surrounds the operation of the for-profit banking system, and expose that system for what it is: a government-protected, government-subsidized license to print money. The problem is, as soon as you start saying things like that, people […]
Continue readingImpolitical: A self-induced recession
An item at the Economist that is making the rounds conveys a quite frustrating aspect of the economic situation in Europe and the U.S.: “A self-induced recession”YOU know, if it weren’t for the politicians, the economy would have a fighting chance….B…
Continue readingAccidental Deliberations: Saturday Afternoon Links
This and that for your weekend reading.- For those looking to paint foreign investment as a panacea for economic development, Paul Krugman offers up (via Kash Mansori) what should be a chilling correlation between capital imbalances and economic disast…
Continue readingThe Progressive Economics Forum: The Eurozone Crisis
There is a cogent commentary from Martin Wolf in today’s FT. It is scary indeed that averting financial collapse demands structural changes in the euro area which seem to be politically impossible to achieve.
Continue readingThe Progressive Economics Forum: Hurricane Trichet Hits Jackson Hole
I just finished watching Jack Layton’s state funeral and notice that Jean-Claude Trichet’s speech from Jackson Hole is out. The European Central Bank president does not seem to get it. Far from acknowledging that last month’s interest-rate hike was premature, he touts “price stability.” His main theme is that the economic divergence between Eurozone countries […]
Continue readingThe Disaffected Lib: Put It On the Kids’ Tab – A Cautionary Tale
We got used to it after WWII, governments borrowing money to be repaid by taxpayers in the future. In an era of foreseeable, sustained growth that wasn’t so bad. The next generation of taxpayers would be much better off and quite capa…
Continue readingThe Progressive Economics Forum: MYTHOLOGIES: MONEY AND HYPERINFLATION
In an earlier post, Marc Lee mentioned in passing the German hyperinflation episode of the 1920s. It’s remarkable that this event still holds such sway over the popular imagination despite other more recent instances of hyperinflation. Certainly, the imagery is powerful: German citizens pushing wheelbarrows full of worthless paper money around for everyday purchases, banknotes […]
Continue readingHarper Valley: What is North America Truly Asking For?
The turbulence is growing….England, Greece, Spain….where’s next? It could be our own backyards. This from Mohawk Clan Mother, Kahentenita Horn: Youth Riots – Ravenous Hunger for Freedom MNN. August 9, 2011. People and animals don’t live or breed well in captivity, unless they think they are free. Indigenous had mental, physical and spiritual freedoms. Europeans were born into […]
The Progressive Economics Forum: Japanizing the World Economy
This guest post is from PEF members Marc Lavoie and Mario Seccareccia, both of whom are full professors of economics at the University of Ottawa. The “Japanization” of the World Economy Over the last twenty years, the Japanese economy underwent a long period of economic stagnation that some economists have characterized as a protracted “balance-sheet […]
Continue readingThe Progressive Economics Forum: The Howe’s Overnight Moves Need Work
Less than a month ago, the C. D. Howe Institute released a paper by Michael Parkin, “Overnight Moves: The Bank of Canada Should Start to Raise Interest Rates Now.” The next day, its Monetary Policy Council called on the Bank to increase the overnight interest rate. This call was terrible. The following week, Statistics Canada […]
Continue readingThe Progressive Economics Forum: Social Europe Journal
For those of you out there who have not seen it, I recommend Social Europe Journal. There is a lot of good progressive economic commentary by leading European economists and policy types of a social democratic persuasion, as well as frequent commentary from Stiglitz, Reich and other US economists. Some good recent columns and blog […]
Continue readingThe Happy Wanderer: Political Rights
My condolences to the families of the 92 people killed in the Norway attacks. It is a horrible thing to kill children and terrible to kill fellow human beings in the first place.
News has come out that the killer belonged to party promoting intoleranc…
Continue readingThe Progressive Economics Forum: “Time to Reduce Exposure to Europe”
CBC National News reconvened their “Bottom Line” economics panel (including yours truly) last night to discuss the twin debt crises (Europe and America) that are currently roiling financial markets. Here’s the link to the webcast for aficionados. In the last segment, Pater Mansbridge asked all the panelists how the debt problems should affect individual Canadians’ personal […]
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