reheated

It’s Gonna Dip Again, Dr Doom Says

The risk of a double-dip recession is rising
By Nouriel Roubini, August 23 2009 18:55
The global economy is starting to bottom out from the worst recession and financial crisis since the Great Depression. In the fourth quarter of 2008 and first quarter of 2009 the rate at which most advanced economies were contracting was similar to [...]

New Classical Macroeconomics Is Superstition

By Robert Skidelsky, August 5 2009
It was to be expected that our present economic traumas would call into question the state of economics. “Why did no one see the crisis coming?”, Queen Elizabeth reportedly asked one practitioner. A seminar at the British Academy tried to answer and the FT has taken up the discussion.
The Queen’s [...]

Mainstream Macroeconomics Is Junk

By Paul De Grauwe, July 21 2009
How to resolve this crisis in macroeconomics? The field must be revamped fundamentally. Some of its shortcomings are obvious. Before the financial crisis, most macroeconomists were blinded by the idea that efficient markets would take care of themselves. They did not bother to put financial markets and the banking [...]

Debt: The First Five Thousand Years

By David Graeber
What follows is a fragment of a much larger project of research on debt and debt money in human history. The first and overwhelming conclusion of this project is that in studying economic history, we tend to systematically ignore the role of violence, the absolutely central role of war and slavery in creating [...]

Deflation Hits Eurozone

Eurozone inflation turns negative
By Ralph Atkins in Frankfurt, June 30 2009 11:03
Eurozone annual inflation has turned negative for the first time, complicating the job of the European Central Bank as draws a line under emergency measures to tackle continental Europe’s recession.
Consumer prices in the 16-country eurozone were 0.1 per cent lower in June than [...]

Stock Markets Fall as Green Shoots Wither

Pessimistic executives cash out of shares
By Anuj Gangahar and Michael Mackenzie in New York
Last updated: June 23 2009 00:44
Growing pessimism about the prospects for a global economic recovery sent stock and commodity prices tumbling on Monday while new data showed that leading US corporate executives were cashing out of their share holdings at a rapid [...]

BRIC Thrown at Dollar Supremacy

By Lyubov Pronina, Lucian Kim and Alex Nicholson
June 16 (Bloomberg) — The leaders of Brazil, Russia, India and China agreed to push for more clout in global financial institutions at an “historic” first summit, without announcing a common policy on how to flex their $2.8 trillion in reserves.
The heads of the so-called BRIC states called [...]

Latvian Meltdown: Sweden Gets €3bn

ECB lends Sweden €3bn
By Ralph Atkins in Frankfurt, Joshua Chaffin in Brussels,and Robert Anderson in Stockholm, June 11 2009 03:00
The European Central Bank has acted to head off a financial crisis in the Baltics, providing Sweden’s central bank with a €3bn loan in a confidence-boosting move amid growing fears over Latvia’s economy.
The ECB move [...]

Capital’s Weak, So Labor Gets a Share

WORKERS BID TO OWN THEIR FUTURE
By Chris Bryan, May 28, 2009
Demanding a capital stake in a troubled company may seem like an odd thing to do at the height of the worst recession since the second world war, but for German workers it is fast becoming a powerful rallying cry. The idea of Mitarbeiterbeteiligung – [...]

Euroland in Deflation, but Trichet Couldn’t Care Less

EUROZONE INFLATION FALLS TO ZERO
By Ralph Atkins in Frankfurt,  May 29, 2009 

Eurozone inflation has fallen to zero, the lowest since comparable records began in 1991, and could fall even lower as a result of the region’s severe recession as well as cheaper oil prices.
The annual inflation rate in the 16-country region fell from 0.6 per cent in April [...]