Econamici blog

I Got Scammed Three Times this Month (And I Thought I was Too Smart)

“(Fraud) Alert: Your Chase ATM/Debit card has been suspended. Please call 1-814-201-6859 to verify.” In a panic, I call the number from my landline...
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Debt Relief for Whom? Part II

Christopher Leonard explains how Federal Reserve bailouts “went to large corporations that used borrowed money to buy out their competitors; it went to the very richest of Americans who owned the majority of assets; it went to the riskiest of financial speculators on Wall Street, who use borrowed money to
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The Big Bean Bubble

In the mini-economy of Beanland, reckless bank lending has caused a crash. Hardly anybody has money to buy beans. The price of beans plummets. To the farmers it looks like there's a bean surplus. Actually, there's a deficit in demand for beans.
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What’s Crippling the Recovery: Lack of Investment Demand or Too-Big-to-Lend Banks?

Quantitative Easing (QE) was supposed to stimulate the economy by encouraging investment with low interest money. That hasn’t happened, but why? Does no one want to borrow, or do banks not want to lend? My favorite financial columnist, Yves Smith, has laid out both theories.
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Capturing the Multinational Dragons’ Gold

As medieval dragons do, the dragon in the Beowulf epic sleeps on a pile of gold. With magic sword and shield, Beowulf kills the dragon and, mortally wounded, distributes the gold to his grateful people. Today’s multinational dragons sleep not on gold, but on hoards of cash. Meanwhile little firms—the
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The Great Real Estate Bubble of the Roaring Twenties

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