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Category Archives: eurocrisis
Stratfor is worth a month of MSM coverage
Stratfor discusses the Eurozone crisis, and once more they manage to put more relevant information into a single of their reports than one will find if scouring the MSM for a month: Media reports to the contrary, Greece’s return to … Continue reading
Posted in austerity, Devaluation, economic policy, eurocrisis, hyperinflation
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“Animal spirits” still rule speculation
VoxEU offers academica macroeconomic analyses that are a bit more nuanced than the bleating in the MSM. But often this nuance is not very impressive. Currently, there’s write-up of a paper online, titled Watch the indices! Derivatives and the Eurozone … Continue reading
Posted in eurocrisis, macroeconomics, MMT, public debt
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The Eurocrisis concisely laid out
Jörg Bibow does a great job under the heading “On the alleged pains of the strong Euro. He discusses the current predicament: ECB president Mario Draghi recently argued that the strengthening of the euro was partly responsible for the bank’s … Continue reading
Posted in austerity, deflation, economic policy, eurocrisis, macroeconomics
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Social Democrats – Gluttons for Punishment?
Sooooo, François Hollande ran on a left-of-center platform, promising raised taxes on very high incomes, increased public spending, stuff like this. He then proceeded to not do any of these things, because this would have meant confrontation with eurozone austerians, … Continue reading
Posted in democracy, economic policy, election campaign, eurocrisis
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The thirties all over again
Naked Capitalism gives some props to Flassbeck and in the comments one commenter shows himself I am troubled by the comment that public reaction to this crisis will be to move more to the right. Reality-based thinker that Flassbeck is, … Continue reading
Posted in democracy, eurocrisis, media
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What a difference a language makes
I accidentally went on Spiegel Online’s English-version site yesterday after not having been for a long while, and was very surprised about the difference of tone from the mindlessness of the German site. The top items included Egyptian elite Succumb … Continue reading
The German austerians are at it again
Remember when the troika not so subtly put pressure on Greek voters before the latest elections – hinting that the loans would be cut off in case Syriza won and followed through on their campaign promises? Well, now that Berlusconi … Continue reading
Posted in austerity, debt, economic policy, election campaign, eurocrisis, media, oligarchy, public debt
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The Japanese picture is getting clearer (for me)
Heiner Flassbeck discusses Krugman’s take on Japan at his site Flassbeck-Economics. In particular, he criticizes the view of Japan’s lack of inflation as being related to a “liquidity trap”, and points out: Nominal wages (compensation of employees) have been falling … Continue reading
Supranation austerians
Most countries in the eurozone are in recession and what do the austerians (led by Merkel and Cameron) do? Cut the EU budget… This means lowering salaries of EU personnel (this was supported by German media claiming that many EU … Continue reading
Another year and austerity still doesn’t work!
So, Germany’s GDP has shrunk in the fourth quarter and growth for the entire year was weak (http://www.spiegel.de/international/business/german-shows-budget-surplus-in-2012-despite-slow-growth-a-877563.html) – weaker than in Japan, China or the US, countries that did not go (full) austerity. This doesn’t come as a surprise … Continue reading
Posted in austerity, belief systems, economic policy, eurocrisis, media, neo-liberalism
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Reality-based World View 