Gross Domestic Product

The Next Step In Europe's Negative-Interest-Rate Experiment

"Paper money appears at first sight to be a great saving, or rather that it costs nothing; but it is the dearest money there is." This is the uncomfortable truth of the euro currency experience. As it seems, people in the euro area about to learn an old lesson: namely that unbacked paper money - which is what the euro represents - cannot be trusted.

Kashkari Slams Dimon: "If Demand For Loans Is High, Why Are You Buying Back Your Stock?"

"Dimon argues that the current capital standards are restraining lending and impairing economic growth, yet he also points out that JPMorgan bought back $26 billion in stock over the past five years. If JPMorgan really had demand for additional loans from creditworthy borrowers, why did it turn those customers away and instead choose to buy back its stock?"

Productivity Myths Shattered: Is Productivity Rising Or Falling? Why?

Those who are baffled by productivity never bothered to put their theories to rudimentary tests. Greenspan is correct that social benefits crowd out genuine investment; thus, those proposing some sort of guaranteed minimum living wage are totally off base. Entitlements are already a massive problem, let’s not make them worse.  Massive handouts have never solved any economic problems, and never will.

Michael Hudson: Trump Is Obama's Legacy - Is This The End Of The Democratic Party?

"...the Democrats will continue to pose as the Lesser Evil party not really in terms of policy, but simply ad hominum. They will merely repeat Hillary’s campaign stance: They are not Trump... having lost its ability to pose as the party of labor and the middle class; and firmly controlled by Wall Street and California billionaires, the DNC strategy of identity politics encourages any identity except that of wage earners..."

Italy Falls Out Of Love With The Euro: Beppe Grillo Resurgent In The Polls

Recent polls for Italian politicians supporting the eurozone and EU have collapsed. Pro-Europe polls are highly likely to get worse as a  further splintering of Matteo Renzi’s PD party takes place. It is not out of question for Beppe Grillo’s eurosceptic Five Star Movement (M5S) party to achieve an absolute majority in the next election...

Venezuela Stops Publishing Money Supply Data For Obvious Reasons

More than a year after hyperinflating banana republic Venezuela stopped reporting official inflation data, Venezuela has stopped publishing money supply data, depriving the general public of the last, and best, available tool to ascertain soaring inflation in what has become the world's worst-performing economy.

Rex Tillerson To Skip NATO Meeting, Will Visit Russia Instead

Rex Tillerson plans to skip an April 5-6 meeting of NATO foreign ministers for a U.S. visit by the Chinese president and will travel to Russia later in the month, U.S. officials said on Monday, a step allies may see as putting Moscow's concerns ahead of theirs.

The Long Run Economics Of Debt Based Stimulus

Attempting to spend a nation to prosperity using borrowed money is not without consequences.  In the short run, an illusion of wealth can be erected.  In the long run, that illusion slips into decay and disrepair.