—- Top 30 HeterodoxKeynesian/MMTEconomics Blogs, Updated // Social Democracyforthe 21st Century: A Post KeynesianPerspective This is my updated list of top 30 heterodox Keynesian/MMT economics blogs. Again, it is not based on objective criteria like number of web hits, but is a rather subjective list, on the basis of how popular various sites seem to be and (in my view) their importance. Have I made … Seguir leyendo Top 30 Heterodox Keynesian/MMT Economics Blogs, Updated

—- TheMythoftheDeservingRich – NYTimes.com —- Shared via myfeedlyreader Seguir leyendo The Myth of the Deserving Rich – NYTimes.com

—- RefutingTheBiggest "Recovery" LiesInFour Simple Charts // ZeroHedge "USprofits are growing, companieshaveunderinvestedandhave no choicebuttospend more onCapEx, andcorporationshavemuchlessdebtthantheydidduringthe crisis thanksto a massivecashbuildup." These are the generic goto explanations by soundbity talking heads for why the US recovery is gaining traction with US corporations, if not so much Joe Sixpack, and why companies are still cheap. There is one problem: they are all wrong. As SocGen’s Andrew … Seguir leyendo Refuting The Biggest “Recovery” Lies In Four Simple Charts

—- ¿quiebra griega en mayo.? GreeceWillDefaultinMayWithoutAnotherBailoutorChangeinTerms // Mish’s Global EconomicTrendAnalysis Cash flow analysis shows Greece is in serious trouble again in spite of having a current account surplus. Specifically, Greece needs a change in payback terms or another bailout or it will default in August, if not May. I use the words "will default" imprecisely. The only way Greece is making loan payments now is … Seguir leyendo Greece Will Default in May Without Another Bailout or Change in Terms

—- ConsumerConfidenceSlides, MissesByMostIn 8 Years // ZeroHedge Following December’s biggest-surge-in-4-years for UMich consumer confidence (though a miss), UMich data has fallen backto 80.4 – missingexpectationsbythebiggestmarginin 8 years. This is the 4th miss in the last 5 months as hope for moar multiple expansion begins to fade. Both current conditions and the outlook indices fell (for the first time sicne October). As UPSwouldsays, confidencedroppedbecausetherewastoomuchconfidence… Following Bernanke’s … Seguir leyendo Consumer Confidence Slides, Misses By Most In 8 Years

—- IMFWarnsThese 4 EuropeanNations Are "PotentiallyDestabilizing" To Global Economy // ZeroHedge Europe is recovering, right? Wrong. As NigelFarageragedlastnight, things are not what they seem and even the IMF is now beginning to get concerned again (especially after Lagarde’s call yesterday for moar from Draghi and every other central banker). As Bloomberg’s Niraj Shah notes, it’s not just the PIIGS we have to worry about (or … Seguir leyendo IMF Warns These 4 European Nations Are “Potentially Destabilizing” To Global Economy

—- ChineseStocksTumbleOnContagionConcernsFromFirstShadow–BankingDefault // ZeroHedge While manufacturing and services PMIs disappointed, the big problem in big China remains that of an out-of-control credit creation process that is blowing up. As wepreviouslynoted, instead of crushing credit creation, the PBOC’s liquidity rationing has forced distressed companies into high-interest-cost products in the shadow-banking world. Investors on the other side of "troubled shadow banking products" had assumed that ‘someone’ would … Seguir leyendo Chinese Stocks Tumble On Contagion Concerns From First Shadow-Banking Default

—- PhillyFedBeatsEven As New OrderDropToMay 2013 Levels, InventoriesTumble // ZeroHedge On the surface, the January Philly Fed was a beat, printing at 9.4 on expectations of a 8.7 number and up from a downward revised 6.4. However, the internals were hardly as pretty with the most notable, New Orders, plunging from 12.9 to 5.1, the lowest print since May 2013, and also the biggest three … Seguir leyendo Philly Fed Beats Even As New Order Drop To May 2013 Levels, Inventories Tumble

—- ArgentineStocksSoar As Black–Market Peso HitsRecordLow (Implies 40% Devaluation) // ZeroHedge Argentina is not Venezuela… yet. Following Maduro’s comments yesterday capping Venezuelan profit margins and making black-market FX transactions practically punishable by death (our exaggeration), the Argentine Peso is collapsing… *ARGENTINE PESO FALLS 2.9% INBLACKMARKETTORECORD 11.55/USD (Spot is 6.77 – implying a 41% devaluation! Of course, this is great news for stocks and the MERVAL … Seguir leyendo Argentine Stocks Soar As Black-Market Peso Hits Record Low (Implies 40% Devaluation)

—- Downward’sPricingTheoryin Post-KeynesianEconomics , Chapter 1 // Social Democracyforthe 21st Century: A Post KeynesianPerspective Paul Downward’s PricingTheoryin Post-KeynesianEconomics: A RealistApproach (Cheltenham, UK, 1999) is the second of two 1990s studies of Post Keynesian price theory. Frederic Lee’s Post KeynesianPriceTheory (Cambridge, 1998) was the first. I will provide a chapter by chapter summary of this book intheway I didforLee’sstudy (as can be readhere) In Chapter 1 … Seguir leyendo Downward’s Pricing Theory in Post-Keynesian Economics , Chapter 1