Category Archives: private debt

That’s what you get when you hollow out the middle class

So, the supermarket chain Target closes down its Canada operation. CBC News discusses this further in an article titled “Middle class retailers dying a slow death: Don Pittis“. And, of course, in a move nobody should be surprised by, their … Continue reading

Posted in developed countries, private debt, standards of living, wealth distribution | Leave a comment

Trying to drive out the Devil with the Beelzebub

Naked Capitalism has a post up with the title “Ragnarok – Iceland and the ‘Doom of the Gods’”. Most days I am reading Naked Capitalism and New Economic Perspectives in parallel and while I know that there is only a … Continue reading

Posted in austerity, debt, deficit spending, democracy, developed countries, economic policy, macroeconomics, MMT, neo-liberalism, private debt, public debt, standards of living | Leave a comment

The headwinds of America

Ars Technica has a short post up reporting on a discussion about slowing US economic growth at a TED conference. The first speaker apparently characterized the problem thus: In his talk today, Gordon named four “headwinds” that confront the nation—demographics, … Continue reading

Posted in neo-liberalism, private debt, standards of living, wealth distribution | Leave a comment

A view on bubbles

Interesting post up at New Economic Perspectives: Sometimes, something interesting and seemingly contradictory can happen in the economy. And when it does, it has important implications for the economy’s financial stability. That interesting thing is this: Private sector net worth … Continue reading

Posted in debt, macroeconomics, MMT, private debt, science, wealth distribution | Leave a comment

Paul Krugman on “The Japan Story”

Paul Krugman comments on Japan in the New York Times and makes a remark that I find very interesting. Two actually that have always kept me a bit worried when Bill Mitchell points out that constant, relatively high deficits, and … Continue reading

Posted in austerity, debt, deficit spending, developed countries, economic policy, macroeconomics, MMT, private debt, public debt | Leave a comment

In neo-liberalism, it’s always the individual’s fault

There’s a post up at Telepolis in which the author contrasts neo-classical, Austrian and MMT-approaches to solving the current crisis. His diagnosis is that the problem is private over-indebtedness, which “paralyzes” individuals and banks and which needs to addressed “as … Continue reading

Posted in austerity, belief systems, debt, deficit spending, economic policy, macroeconomics, MMT, neo-liberalism, private debt, wealth distribution | Leave a comment

Is Open Democracy just a camouflaged propaganda tool?

Open Democracy is an infuriating site. On the one hand, they discuss important developments in the Middle East and North Africa, women’s issues, topics relating to democracy and mass media. On the other hand, they keep giving a propaganda platform … Continue reading

Posted in austerity, belief systems, debt, deficit spending, developed countries, neo-liberalism, private debt, public debt, standards of living, wealth distribution | Leave a comment