Category Archives: debt

The “Default Prevention Act of 2013” makes a February debt-ceiling crisis unlikely

On one hand, the deal signed by Obama provides debt-ceiling relief only till February, when the debt ceiling will once again be reached. On the other hand, come February, it is unlikely the United States will manufacture another homemade debt … Continue reading

Posted in conservative movement, debt, democracy, political sociology, politics, The End of the GOP | 1 Comment

Debt-ceiling deal appears imminent

Jonathan Chait is exhorting us to “stop fretting: the debt-ceiling crisis is over!” And indeed, it appears Speaker Boehner is finally willing to bring a vote to the House floor, even if it is the Senate bill, and even if … Continue reading

Posted in 2007-2012, debt, democracy, politics, qualitative sociology of economics and politics, The End of the GOP | Leave a comment

The business elite is letting GOP put domestic economic sabotage on the negotiating table

There is a piece of knowledge emerging in which the Republicans are no longer the party of Big Business. Statements of this knowledge can be found in BusinessWeek, National Review, and the Washington Examiner. It is based on the view that the … Continue reading

Posted in 2007-2012, debt, democracy, economic recovery, macro-economics, political sociology, politics, qualitative sociology of economics and politics, sociology, The End of the GOP, the great contraction, the great contraction 2007-2012 | 2 Comments

COLUMN: debt-default politics must end

As the previous decade was coming to a turbulent close, James Fallows, the veteran journalist, penned a trio of important articles. The first, “The $1.4 Trillion Question,” published in January 2008, was among the first to look at the rising … Continue reading

Posted in 2007-2012, debt, economic recovery, macro-economics, money and finance, political sociology, politics, qualitative sociology of economics and politics, the great contraction, the great contraction 2007-2012 | Leave a comment

the problem of middle-class spending power: a few comments

The last five years we have witnessed a historic de-leveraging in the private sector. This process was part of a large economic contraction overall. The collective response was (a) creative and explosive monetary expansion combined with (b) politicized fiscal standoff. … Continue reading

Posted in 2007-2012, an actually thriving labor market, debt, money and finance, money velocity, politics, prices, the great contraction, the great contraction 2007-2012 | Leave a comment

Bartlett on fiscal stimulus when faced with a “liquidity trap”

Bruce Bartlett has a post at the New York Times’ “Economix” blog titled “Keynes’ Biggest Mistake” (link). In it Bartlett asks, “Does Keynesian economics completely ignore the long run?” His answer: No, but the title of Keynes’ famous book — … Continue reading

Posted in 2007-2012, an actually thriving labor market, debt, economic recovery, macro-economics, qualitative sociology of economics and politics, the great contraction, the great contraction 2007-2012 | Leave a comment

COLUMN: fiscal contraction amid monetary expansion

Is the US economy miraculously growing, despite significant fiscal contraction? Or is the US economic recovery remarkably flat, given the multi-year run of historically unprecedented monetary expansion? Can the answer be both? Neither? In a post at The Atlantic, Derek … Continue reading

Posted in 2007-2012, an actually thriving labor market, debt, economic recovery, macro-economics, qualitative sociology of economics and politics, the great contraction, the great contraction 2007-2012 | 1 Comment