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Tag Archives: stagnation
Lost in Extrapolation
Lost in Extrapolation Phillips Curve Fail In the late 1970s the impossible happened. Inflation and unemployment simultaneously went vertical. The leading economists of the day were flummoxed. Larry Summers favors us with his “eternal stagnation” shrug. The man is a sheer inexhaustible fount of truly atrocious ideas. As we have previously pointed out, when he’s […]
The Mindless Stupidity of Negative Interest Rates
The Mindless Stupidity of Negative Interest Rates Here we are in the midst of The Great Stagnation Middle Class Elimination and some central bankers and mainstream economists are promoting negative interest rates. One economist was quoted in a Marketwatch piece by Greg Robb as saying, “…pushing rates into negative territory works in many ways just like […]
One True Measure of Stagnation: Not in the Labor Force
One True Measure of Stagnation: Not in the Labor Force This is a stark depiction of underlying stagnation: paid work is not being created as population expands. Heroic efforts are being made to cloak the stagnation of the U.S. economy. One of these is to shift the unemployed work force from the negative-sounding joblesscategory to the benign-sounding Not […]
That 70s Show – Episode 2
That 70s Show – Episode 2 In Episode 1 we showed how the US labour market changed dramatically from the 1970s on back of excess money printing which allowed Americans to buy tradable goods on the international market, hollowing out its own manufacturing base, and essentially creating an unsustainable consumer driven economy where the broad masses get their […]
The Earth’s Battery Is Running Low
The Earth’s Battery Is Running Low We’ve drained our planet’s stored energy, scientists say, with no rechargeable plug in sight. In the quiet of summer, a couple of U.S. scientists argued in the pages of the Proceedings of the National Academy of Sciences that modern civilization has drained the Earth — an ancient battery of […]
The Cost of Stagnation: We’re Living in Limbo
The Cost of Stagnation: We’re Living in Limbo This erosion of opportunities to complete life’s stages and core dramas is rarely recognized, much less addressed. The idea that human life subdivides rather naturally into stages is based on our natural progression from childhood into adulthood and eventual (if we’re lucky) old age. Confucian thought views […]
Currency Devaluation: The Crushing Vice of Price
Currency Devaluation: The Crushing Vice of Price Devaluation has a negative consequence few mention: the cost of imports skyrockets. When stagnation grabs exporting nations by the throat, the universal solution offered is devalue your currency to boost exports. As a currency loses purchasing power relative to the currencies of trading partners, exported goods and services become cheaper […]
Kuroda Says BOJ to Mull Fresh Options in Case of More Easing
Kuroda Says BOJ to Mull Fresh Options in Case of More Easing Bank of Japan Governor Haruhiko Kuroda signaled the central bank may need to look at fresh options if more stimulus is needed to propel inflation to levels unseen since stagnation set in two decades ago. “If, really, our possible path to 2 percent inflation […]
How Japan Bankrupted Itself – The Globalist
How Japan Bankrupted Itself – The Globalist. Following the start of Abenomics in 2012, Japan moved back to the center of attention of global financial markets. After two and a half decades of economic stagnation, hopes were high that Japan would escape its long stagnation and deflation. Plenty of economists around the globe hoped that, […]
