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Jehu Eaves's Blog (4)

European ‘elites’ should move quickly before a radicalized labor figures out what’s happening

Eye opening read for all activists ( that requires little commentary) from economist Michael Pettis:

If Europe is going to “resolve” the current crisis in an orderly way, it is going to have to move very quickly – not just for the obvious financial reasons, but for…

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Added by Jehu Eaves on December 2, 2010 at 5:00am — No Comments

Deficit Terrorism and Quantitative Easing: Two sides of the same strategy?

According to James Rickards, the Federal Reserve Bank likely has no way to exit from its money printing effort known as quantitative easing:

Disasters sometimes sneak up in small steps, each of which appears unthreatening at the time but which cumulatively spell collapse. The Fed is leading the United States to ruin in ways that…

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Added by Jehu Eaves on November 24, 2010 at 7:30am — No Comments

How economists mislead – ‘Ignorant Deficit Terrorists’ Edition

Courtesy of Peter Dorman of the Econospeak blog, an argument you don’t hear every day … unless you are still in kindergarten: “1 + 1 = 2″

This Is What Accounting Identities Look Like

I have been periodically raging against the ignorance of those who would slash fiscal deficits without regard to fundamental accounting identities.…

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Added by Jehu Eaves on November 16, 2010 at 6:49am — No Comments

Why progressive economists can mislead activists, and why they should stop...

There is a post at Beat the Press from Dean Baker, who is a decent enough economist to embrace the idea of shorter working time; but who, despite this point in his favor, nevertheless brings such defective reasoning to his analysis that it makes me cringe:

The Falling Dollar and Developing country Exports | Thursday, 11 November 2010 05:44

The Washington Post notes that the Fed’s new…

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Added by Jehu Eaves on November 11, 2010 at 3:00pm — No Comments