Unemployment

Gradually... And Then Suddenly

What do socialism and modern monetary policy have in common? Magical thinking. For both, it’s true on the giddy years up, and it’s true on the sad years down.

Navigating Through The Storms: "I'm Losing My Sense Of Outrage"

"My frustration and disillusionment with a world gone mad has begun to affect my mental state. I’m losing my sense of outrage which has driven me to write for the last nine years. It isn’t worth the expended energy when it will change nothing. I’m resigned to the inevitability of economic collapse. It’s just a matter of when."

Goldman Is Troubled By The Fed's Growing Warnings About High Asset Prices

"At this point, the FOMC does not need additional reasons for gradual further tightening, which a traditional reaction function based on the dual mandate suggests is already warranted. But Fed officials do appear more concerned about financial stability risks, and this could strengthen the case somewhat for tightening in the future."

Adventures In 'Quantitative Tightening'-Lane

"Here, in the spirit of modest contemplation, we offer several hunches, inklings, conjectures, and guesses as to what quantitative tightening might mean. These are not predictions. They’re merely a starting point from which you can extend out your own visions into the future..."

On Europe's Unsustainable Welfare State

Angela Merkel used to say that "the European Union is about 5% of the world’s population, about 25% of its GDP, and about 50% of global welfare spending." The real data is more concerning...

Congress Begins To Ask If Amazon Is Getting Too Big, Antitrust Hearing Called

Is Amazon getting too big? While that question has yet to be formally asked by the US government, on Friday we got a hint that it may be next on the agenda after the top Democrat on the House Antitrust Subcommittee, David Civilline, voiced concerns about Amazon's $13.7 billion plan to buy Whole Foods Market.

Unite and Rule: EU As NATO's Auxiliary Economic Alliance

"The fabled divide-and-rule policy that has been deployed by imperialist powers to weaken resistance is a historically proven fact; but, neocolonial powers also use unite-and-rule strategy to create friendly alliances and to institute a centralized command and control structure in order to buttress the global neocolonial world order."

Watch Live: Yellen Testimony Day 2, And Three Questions She Should Answer

It's time for day two of Yellen's semi-annual testimony with the Fed Chair today appearing before the Senate Banking Committee. While the prepared remarks are identical, in her speech on Wednesday, Yellen said the U.S. economy should continue to expand over next few years and stressed a gradual approach to tightening as central bank monitors inflation. The attention will be on the Q&A.