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Austeritys Scottish Ghosts Haunt the Modern Economic Mind
Found on TripleCrisis on Fri 24th May 13
Mark BlythGrowth in a Time of Debt, the much-touted paper by economists Carmen Reinhardt and Kenneth Rogoff, that suggested economic growth stalls once a nations debt hits 90 percent of its gross domestic product, has been debunked. But the austerity policies
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U.S. Public Schools: Unequal Spending Across States
Found on CONVERSABLE ECONOMIST on Fri 24th May 13
Mark Dixon of the U.S. Census Bureau has authored Public Education Finances: 2011. The headline finding is that in 2011, per capita spending on K-12 education declined. The drop was a small one, only about 0.4%, but it's also the first and only drop in
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The Fed Has Painted Itself in a Corner
Found on naked capitalism on Fri 24th May 13
Bernanke managed to shoot global markets in the head the day before yesterday, and then, as has become typical when investors throw brickbats at what the Fed has said, various mouthpieces go about talking the markets back up (this case, in the form of San Francisco
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Live Blog: Apple grilled over tax avoidance
Found on Tech Blog on Fri 24th May 13
Apple chief executive officer Tim Cook takes the hot seat on Tuesday morning in Washington to answer questions about a tax planning strategy that has enabled it to avoid billions of dollars of taxes. Carl Levin, chairman of the Senate investigations committee,
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How Apple avoids US taxes with shell games
Found on Angry Bear on Fri 24th May 13
by Linda BealeHow Apple avoids US taxes with shell gamesTomorrow’s Congressional hearing on the ability of major multinationals to shift profits offshore to avoid US tax (and everywhere-else tax) may finally get the attention of the American public onto
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After Slow 2013, NY Fed Sees Growth Picking Up Next Year
Found on naked capitalism on Thu 23rd May 13
Economists at the Federal Reserve Bank of New York expect slower, trend-like growth this year due to the drag created by government taxation and spending policies, and project things will speed up next year.
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The banking crisis as a giant carry trade gone wrong
Found on VoxEU.org: Recent Articles on Thu 23rd May 13
Viral Acharya, Sascha Steffen, 23 May 2013A pernicious aspect of the Eurozone crisis is the doom loop linking European banks and governments. This column argues that poor European policy choices in the wake of the 2008 Global Crisis worsened the problem. Rather
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Face It: You're Crazy
Found on Beat the Press on Thu 23rd May 13
Flickr/Mark TurnauckasCommonly referred to as "the DSM," the Diagnostic and Statistical Manual of Mental Disorders is often referred to as psychiatry's "Bible." If that's the case, imagine the outcry if an overzealous publisher merged the Gospels of Luke and
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Stock Advisor Sentiment Suggests Sell-Off Ahead
Found on Calculated Risk on Thu 23rd May 13
As the key stock indices continue to climb higher, optimism amongst investors and stock advisors rises to a dangerous level.According to the Advisor Sentiment tracked by Investors Intelligence, an indicator I follow to gauge optimism in the stock market, the
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Spending on America's Pets
Found on CONVERSABLE ECONOMIST on Thu 23rd May 13
Steve Henderson of the U.S. Census Bureau pulls together data from the Consumer Expenditure Survey and looks at "Spending on pets." He writes (footnotes omitted): "Nearly three-quarters of U.S. households own pets. There are about 218 million pets in the United
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