NEP’s Marshall Auerback interviews Branko Milanovic, Visiting Presidential Professor, The Graduate Center, City University of New York. This is almost certainly the highest level of relative, and certainly absolute, global inequality at any point in human history. Is there anything we can do to reverse or mitigate this trend? See the interview here.
Comments Off on The Global Haves And Have-Nots In The 21st Century
Posted in Marshall Auerback
Tagged #poverty, inequality
Marshall Auerback appears on the Thom Hartman Program. Topics of discussion include the budget follies. (Marshall appears at about the 5:00 minute mark)
Marshall Auerback interviews Warren Mosler for the Institute for New Economic Thinking.
Posted in Marshall Auerback, warren mosler
Tagged Great Financial Crisis, MMT, warren mosler
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.
Posted in L. Randall Wray, Marshall Auerback, Stephanie Kelton
Tagged detroit, infrastructure, jobs, Modern Monetary Theory
NEP’s Marshall Auerback appears on Fox Business News weighing in on QE and Markets. You can view the segment here.
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.
Posted in Marshall Auerback
Tagged austerity, budget crisis, debt, deficit, political dysfunction, sequestration
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).
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)
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.
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.
Posted in Marshall Auerback
Tagged banksters, budget, economy, fiscal cliff, social safety net, Social Security
Click images to view details
