Category Archives: Marshall Auerback

Here Lies the Tea Party, 2009 – 2013

Marshall Auerback appears on the Thom Hartman Program. Topics of discussion include the budget follies. (Marshall appears at about the 5:00 minute mark)

Warren Mosler’s interview on INETeconomics

Marshall Auerback interviews Warren Mosler for the Institute for New Economic Thinking.

A Plan for All the Detroits Out There

By Marshall Auerback, Stephanie Kelton and L. Randall Wray

Should the federal government bailout Detroit?  That’s the question everyone is debating.  We think the discussion should be expanded well beyond this narrow question.  Detroit is the canary in the coal mine, but it’s symptomatic of a bigger problem, which is the lack of jobs and decent demand in the economy.

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Marshall Appears on Fox Business

NEP’s Marshall Auerback appears on Fox Business News weighing in on QE and Markets. You can view the segment here.

 

IN PRAISE OF POLITICAL DYSFUNCTION

By Marshall Auerback

The lamentable state of American political parties has become common sport amongst the chattering classes in DC and beyond. Although, one wonders whether this dysfunction has really been such a bad thing, when considering how united bipartisan “responsible” action always seems to result in yet more budget cuts.

By virtue of the fact that Congress and the Obama Administration couldn’t agree on much for the past few years, America’s deficits got large enough to put a floor on demand. The transfer payments via the automatic stabilisers worked to stabilise private sector incomes and allowed a general, albeit tepid, recovery in the economy.

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A job should be a right, not a privilege!

NEP’s Marshall Auerback appears on the Thom Hartman program, 20 February 2013, discussing limits on banksters’ salaries and bonuses. There is some discussion of jobs guarantee near the end of the segment (near 9:00 mark).

NEP’s Marshall Auerback on BNN

Marshall appeared on Business News Network on January 29th. There are 2 separate clips and are listed below. In the second clip, Marshall appears beginning at 1:11, after market updates. Click a link in order to view.

http://watch.bnn.ca/#clip854050

http://watch.bnn.ca/#clip854058 (Marshall appears beginning at 1:11)

The Bank of Canada Governor is Wrong on Too Big To Fail and Wrong on Canada’s Banking System

By Marshall Auerback

As a Canadian, perhaps I should feel a surge of patriotic pride now that Mark Carney has been designated the new head of the Bank of England – quite a step up for the current governor of the Bank of Canada.  There is no question that Mr. Carney is a market-savvy guy (he did, after all, work for the vampire squid), and his experiences as Chairman on the Financial Stability Board (FSB) suggests that he is sensitive to the ongoing systemic risks present in our increasingly complex global banking system.

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Even a deal on the budget is bad for the American economy

By Marshall Auerback

Looking at the latest US data, business sentiment and capital spending have been eroding, and given the lagged impact of capex, that trend looks set to continue for the next few months. Against that, a number of consumer sentiment indicators remain upbeat and housing looks like it is in a firmly established uptrend, after a 5 year bear market.  In fact, the existing home inventory to sales ratio is as low as it ever gets, and that is with still very depressed sales. If sales pick up further, given low inventories and with new housing starts still below the replacement rate, home prices could lurch forward.

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Marshall Auerback appears on BNN discussing the Grand Bargain and other issues

Marshall Auerback’s appearance on BNN’s Business Day, November 15, 2012. Topics of discussion include impacts of a Grand Bargain. Click the image or here to watch on BNN’s site.