It has now been confirmed, the UK economy contracted in the fourth quarter by 0.2%. Leading the contraction was investment. This is important because much of the supposed logic of stimulative austerity was based on the incredulous belief that public … Continue reading
Monthly Archives: February 2012
Paul Krugman, Bob Hall and Valerie Ramey don’t get the Long Run
Gallery
Paul Krugman thinks that Bob Hall and Valerie Ramey have clinched the matter with their natural experiment on fiscal stimulus. What none of them seem to understand is that the argument has always been that in the ‘long run’ the … Continue reading
The Greek Tragedy some links and profane language
Gallery
Michael Hudson on the Greek Tragedy as modern economic warfare. Why bomb and plunder when you have financiers? The Greek economy is not in jeopardy of collapsing it already has. H/T Naked Capitalism. Direct reporting from BNN And if having … Continue reading