By: Eric377
What really happened? I don’t think it was the backwash of predatory home loans devaluing. Or rather, don’t think the loans were predatory exactly. As I understand it, predatory loans are those that...
View ArticleBy: Fred C. Dobbs
This article is more than 15 years old Greenspan – I was wrong about the economy. Sort of The Guardian – October 24, 2008 The former Federal Reserve chairman, Alan Greenspan, has conceded that the...
View ArticleBy: Fred C. Dobbs
Seems (to me) at least Vaguely Related. New Normal or No Normal? How Economists Got It Wrong for 3 Years. NY Times – Oct 24 Economists first underestimated inflation, then underestimated consumers and...
View ArticleBy: Fred C. Dobbs
Economists spent 2021 expecting inflation to prove “transitory.” They spent much of 2022 underestimating its staying power. And they spent early 2023 predicting that the Federal Reserve’s rate...
View ArticleBy: Fred C. Dobbs
In reply to Fred C. Dobbs. Economists generally expect growth to slow late this year and into early next, nudging unemployment higher and gradually weighing inflation down. But several said the economy...
View ArticleBy: dw
one wonders why we continue to hope that the Fed and Economists will actually accomplish their goal (so far only one rime in eleven tries have they done so). course those that came before then,...
View ArticleBy: Markg
This is not the first time Greenspan has changed his tune. The Greenspan commission developed the plan to increase payroll taxes (on the backs of the middle class) to run a SS surplus to pay future...
View ArticleBy: Bill Haskell
In reply to Markg. Mark: Minor fix on the Greenspan article. Just inserted the title.
View ArticleBy: Fred C. Dobbs
Is This What Winning Looks Like? NY Times – February 6, 2022 Modern Monetary Theory, the buzziest economic idea in decades, got a pandemic tryout of sorts. Now inflation is testing its limits. … What...
View ArticleBy: Fred C. Dobbs
In reply to Fred C. Dobbs. … In economics, there’s a school of thought sometimes called “freshwater.” It’s the set of ideas that became popular at inland universities in the 1970s, when they began to...
View ArticleBy: Fred C. Dobbs
In reply to Fred C. Dobbs. … As 2021 demonstrated, however, the economy is a big, complex entity, and it can be hard to predict. Many economists, both mainstream andM.M.T. ones, did not think that the...
View ArticleBy: Markg
In reply to Fred C. Dobbs. Questions like: “Did Congress ‘experiment’ with MMT, and does the run-up in inflation mean that MMT has ‘failed’?” This is a common mistake in understanding MMT. Do not...
View ArticleBy: Fred C. Dobbs
In reply to Markg. Questions like: “Did Congress ‘experiment’ with MMT, and does the run-up in inflation mean that MMT has ‘failed’?” That is how Ms. Kelton put it in a Substack post — she upgraded...
View ArticleBy: Fred C. Dobbs
‘The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy’ by Stephanie Kelton Book review – March 31, 2021
View ArticleBy: Fred C. Dobbs
Alan Greenspan ran the Fed from 1987 to 2006. Governments can create more money without threat of economic collapse. Given the fact that money is no longer backed by gold and is more theoretical in the...
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