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Global Economic Intersection

1Q 2020 GDP Estimate Revised Lower

posted on 28 May 2020 Written by Rick Davis, Consumer Metrics Institute In their second estimate of the US GDP for the first quarter of 2020, the Bureau of Economic Analysis (BEA) reported that the US economy was contracting at a -5.06% annual rate, down -0.27 percentage points (pp) from their previous estimate and down -7.18pp from the prior quarter.Please share this article - Go to very top of page, right hand side, for social media buttons. The overall downward revision in the...

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A Quick Note On Michael Emmett Brady’s Paper On Keynes And Probability

posted on 28 May 2020 by Philip Pilkington Article of the Week from Fixing the Economists “Ask and it will be given to you; seek and you will find; knock and the door will be opened to you." - Matthew 7:7Michael Emmett Brady’s paper Keynes, Mathematics and Probability: A Reappraisal is a bizarre piece of work. In it he reads things into Keynes work on economics in a manner that is not dissimilar to someone reading another person’s fortune into tea leaves.Please share this article -...

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Introduction To Monetary Post Keynesian Economics

posted on 27 May 2020 Written by Steve Keen, Patreon.com/Steve Keen This is a talk I've prepared for the University of Basel, which has established an online plural economics lecture series as part of the official curriculum--a move for which I congratulate the University. Please share this article - Go to very top of page, right hand side, for social media buttons. I give a very brief overview of the content and history of Post Keynesian economics, and then focus on Hyman...

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Is The Fed Walking Into A Trap?

posted on 23 May 2020 by Lance Roberts, Clarity Financial Currently, the Fed is injecting liquidity into the markets and economy at a record pace. While liquidity does have positive short-term benefits, is the Fed walking into a trap?Please share this article - Go to very top of page, right hand side, for social media buttons.The UnseenOver the last decade, the Federal Reserve, and Central Banks globally, have engaged in never-ending “emergency measures" to support asset markets....

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Rewinding The Tape

posted on 24 May 2020 by John Mauldin, Thoughts from the Frontline We finished the Virtual Strategic Investment Conference yesterday. I can honestly say it was simply the best conference I have ever attended or been privileged to host.Please share this article - Go to very top of page, right hand side, for social media buttons.The ability to bring together so many exciting speakers, something schedules would not have allowed if we were holding a physical conference, offered a constant...

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The Lesser G-7

posted on 21 May 2020 by Constantin Gurdgiev, TrueEconomics.Blogspot.in Fading into Economic AbsurdityThe G7 is a rather exclusive club of the 7 'largest' and, according to their own aspirations, most important - economically and geopolitically - economies. Except, of course, it isn't. The latest IMF data (through 2019) and forecasts (for 2020-2021) published last month show just how bizarre the geopolitical influencer game got over the recent years and just how more bizarre it is...

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Interest Rates And Animal Spirits: A Response To JW Mason

posted on 21 May 2020 by Philip Pilkington JW Mason has an interesting post on the interest rate over at his Slackwire blog. In it he basically tries to resuscitate Keynes’ theory of liquidity preference as that which determines the interest rate on various assets. I think that he does rather a good job given that this is his goal but from the moment I looked into this debate over a year ago I was always bothered by what was going on.Please share this article - Go to very top of page,...

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Reflection Week

posted on 17 May 2020 by John Mauldin, Thoughts from the Frontline I knew this article’s topic months ago. It was going to be a review of the Strategic Investment Conference, which would have just concluded fabulously in sunny Scottsdale.Please share this article - Go to very top of page, right hand side, for social media buttons.Well, something intervened. Coronavirus precautions kept us from having an in-person conference. No one was more disappointed than me. I often say SIC is the...

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Bertrand Russell’s Teapot

posted on 14 May 2020 by Philip Pilkington Misreading of George Berkeley's Philosophy I recently picked up Bertrand Russell's History of Western Philosophy to have a look at the argument he makes against the philosophy of George Berkeley. Frankly, I have never liked Russell. He is a clear writer - and a convincing one - but a poor scholar. He also has a tendency to read his own biases into the works of others as being 'mistakes'. Please share this article - Go to very top of...

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‘Savings Mirage’ Won’t Save The Economy

posted on 13 May 2020 by Lance Roberts, Clarity Financial The fiscal and monetary responses to the "coronavirus" created a surge in savings. While many hope those savings will go back to work, the "savings mirage" won't save the economy. Please share this article - Go to very top of page, right hand side, for social media buttons. In recent weeks, there has been a good bit of chatter about the surge in the "savings rate." The rate has now jumped to the highest levels seen in...

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