War almost always causes inflation.As liberal economist James Galbraith wrote in 2004:War causes inflation. Every major war in the past century brought inflation to some degree. And so did two upheavals in the Middle East, the Yom K…
Posts Tagged ‘James Galbraith’
War Causes Inflation … And Inflation Allows The Government to Start Unnecessary Wars
January 2nd, 2011 |
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Financial Analyst: This Is The First Recession Since the End of the FIRST World War Where Government Help Isn’t Trickling Down to the American People
December 16th, 2010 |
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Banking expert Christopher Whalen (hailed by Nouriel Roubini as one of the leading independent analysts of the U.S. banking system) told the American Enterprise Institute that this is the first recession going back at least to the end of the first Worl…
Department of Justice “Crackdown” On Wall Street Is Just a P.R. Stunt Targeting Small-Time Crooks
December 8th, 2010 |
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Alan Greenspan, William Black, James Galbraith, Joseph Stiglitz, George Akerlof, Chris Whalen and many other economists and financial experts all say that the economy cannot truly recover unless those who committed fraud are prosecuted.So we should be…
Even Greenspan Admits that Moral Hazard and Fraud are the Main Problems
November 6th, 2010 |
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Even Alan Greenspan is confirming what William Black, James Galbraith, Joseph Stiglitz, George Akerlof and many other economists and financial experts have been saying for a long time: the economy cannot recover if fraud is not prosecuted and if the…
Another Nobel Economist Says We Have to Prosecute Fraud Or Else the Economy Won’t Recover
November 3rd, 2010 |
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As economists such as William Black and James Galbraith have repeatedly said, we cannot solve the economic crisis unless we throw the criminals who committed fraud in jail.And Nobel prize winning economist George Akerlof has demonstrated that failure …
Fraud Caused the 1930s Depression and the Current Financial Crisis
October 29th, 2010 |
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Robert Shiller – one of the top housing experts in the United States – says that the mortgage fraud is a lot like the fraud which occurred during the Great Depression. As Fortune notes:Shiller said the danger of foreclosuregate — the scandal in whic…
Krugman: “The Question Is Whether Our Economy Is Governed By Any Kind Of Rule Of Law”
October 15th, 2010 |
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Paul Krugman writes:The mortgage mess is making nonsense of claims that we have effective contract enforcement — in fact, the question is whether our economy is governed by any kind of rule of law.*** True to form, the Obama administration’s re…
IMF Calls for Huge New Round of Bank Bailouts
October 6th, 2010 |
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The IMF is calling for a huge new round of bank bailouts.As the Telegraph noted yesterday: Lenders across Europe and the US are facing a $4 trillion refinancing hurdle in the coming 24 months and many still need to recapitalise, the Washington-ba…
No Wonder the Outlook for the Economy is “Unusually Uncertain” … the Fed is Killing It
July 21st, 2010 |
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Fed Chairman Ben Bernanke testified today that the outlook for the economy is “unusually uncertain”.That’s not surprising.Nothing has changed since I made the following points last December.High-Level Fed Officials Slam BernankeFed Vice Chairman Donal…
Can the Financial Reform Bill Fix the Economy?
July 17th, 2010 |
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Preface: If you’ve been too busy to pay attention to the details, and if you’re hoping that the financial reform bill which has just been passed will fix the economy, this essay will bring you up to date. Congress, Federal Reserve chairman Ben Bernan…
No Wonder the Eurozone is Imploding
April 28th, 2010 |
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You might assume that the reason for the implosion in the Eurozone is a mystery. But it’s not.There Wouldn’t Be a Crisis Among Nations If Banks’ Toxic Gambling Debts Hadn’t Been Assumed by the World’s Central BanksThere wouldn’t be a crisis among natio…
Economist James Galbraith: Economists Should Move into the Background, and “Criminologists to the Forefront”
April 22nd, 2010 |
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University of Texas economics professor James K. Galbraith previously said that fraud caused the financial crisis:
You had fraud in the origination of the mortgages, fraud in the underwriting, fraud in the ratings agencies. Senator Kaufman said la…
Former Managing Director of Goldman Sachs: Accounting Fraud of the Too Big to Fails May Be Worse Than Enron
December 2nd, 2009 |
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Nomi Prins – former managing director of Goldman Sachs and head of the international analytics group at Bear Stearns in London – is saying the same thing that financial bloggers have been saying: The giant banks are manipulating their books to make the…
Questions for Bernanke’s Senate Confirmation Hearing
December 1st, 2009 |
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The Senate Banking Committee will be chatting with Ben Bernanke this Thursday to vote on his reappointment.Demand that the Committee ask the following questions for our esteemed Esteemed Chairman (and contact your own Senators also and demand that they…
New Quad-Core iMac “worth the waitâ€
November 23rd, 2009 |
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Reviewer James Galbraith (macworld.com) gives the new quad-core 27-inch iMac computers with Intel Core i5 and Core i7 “Nehalem†processors 4.5/5 mice, calling them “worth the wait.†In performance tests, writes Galbraith, the 2.55GHz Core i5 iMac was “the fastest standard configuration Mac we’ve ever tested†and the Core i7 “showed even greater performance prowess.â€
Galbraith: Administration’s Sole Goal is to Restore System of 5 or 10 Years Ago, But Confidence Won’t be Restored Unless Fraud is Prosecuted
November 1st, 2009 |
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As I have repeatedly written, the largest U.S. banks have repeatedly gone bankrupt due to wild speculation which was blessed by the Fed, and then the government covered up their bankruptcy.Indeed, the New York Times writes today about one of the too bi…
Galbraith: Fed is Unlawfully Withholding Information from Congress
October 26th, 2009 |
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The Federal Reserve is unlawfully withholding information from Congress.Says who?Says noted economist James Galbraith:To this day, Chairman Ben Bernanke has refused to disclose to Congress exactly who has received help under the many crisis measures an…
The Economy Will Not Recover Until Trust is Restored
September 10th, 2009 |
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A 2005 letter in premier scientific journal Nature reviews the research on trust and economics: Trust … plays a key role in economic exchange and politics. In the absence of trust among trading partners, market transactions break down. In the absenc…
Galbraith: “The Strategy …That You Would Sustain The Banking System In Order That It Would Resume Lending — Hasn’t Worked, And It Isn’t Going To Work”
September 9th, 2009 |
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Economist James Galbraith told McClatchy:The strategy that was stated at the beginning of the year — which is that you would sustain the banking system in order that it would resume lending — hasn’t worked, and it isn’t going to work.”Galbraith is …