Category Archives: business cycles

How long will inflation stay low ? Have we entered a new age of low inflation , slower growth and sluggish employment ?

The question on many people’s minds in the financial and futures markets is all about judging the future inflation rate. Inflation has not been a problem for most of the past decade and certainly not a problem since the crash … Continue reading

Posted in business cycles, Canada, European unemployment, fiscal policy, J.M.Keynes, Milton Friedman and NAIRU, monetary policy, U.S., Uncategorized, unemployment | Tagged , , , | 2 Comments

Demographic slowdown in U.S. may be one of the causes of the deep recession and slow recovery

First of all a healthy and happy New Year to everyone. With any luck and some good policies this year should be more prosperous for more people than 2013.  We are beginning the sixth year since the crash and financial … Continue reading

Posted in business cycles, Canada, fiscal policy, Keynesian multiplier, U.S., Uncategorized, unemployment | Tagged , , | Leave a comment

U.S. government Shutdown Irrationality & higher Unemployment in Europe:A very bad combination

The long predicted but nevertheless very foolish self inflicted irrational Tea party Inspired shutdown of all but essential U.S. government services has occurred as of midnight last night, Washington time. It is difficult to predict how long it will last … Continue reading

Posted in austerity, business cycles, European financial stability fund, European unemployment, fiscal policy, France politics+economy, government shut down+debt ceiling U.S., Spain, U.K. economy, U.S., Uncategorized, unemployment | Tagged , , , | Leave a comment

The long hot summer recovery continues

I have been away from my blog and web site for  an extended period, last posting at the close of June. I will be resuming a more frequent schedule beginning next week. A heck of a lot has transpired both … Continue reading

Posted in austerity, business cycles, classical economics, deficit hysteria, fiscal policy, full employment, monetary policy, U.K. economy, Uncategorized, unemployment, urban culture | Tagged , , | Leave a comment

Markets always overreact to changing expectations: this time was no different

I have been away working on my research and publishing and nursing a very nasty summer cold these past few weeks . A lot has happened that needs to be noted. First let me pay tribute to the long and … Continue reading

Posted in austerity, business cycles, classical economics, deficit hysteria, European debt crisis, J.M.Keynes, quantitative easing, unemployment | Tagged , , , | Leave a comment

Stock market jitters focus on false fears about end of Quantitative Easing

A lot of old shibboleths have bit the dust in recent years. Deficits were supposed to destroy the economy by crowding out investment and ushering in inflation. They have not done so. Inflation remains extremely subdued and if there is … Continue reading

Posted in business cycles, quantitative easing, quantity theory of money, U.S., Uncategorized | Tagged , , | Leave a comment

The Owl of Minerva takes flight at dusk:The anti-Keynesian era is drawing to a close

The Owl of Minerva takes flight at dusk: The anti-Keynesian era is drawing to a close By Harold R. Chorney, Professor of political economy, Concordia university, Montreal.( I originally submitted this to the New York Times as an op ed … Continue reading

Posted in austerity, business cycles, deficit hysteria, deficits and debt, European debt crisis, European unemployment, fiscal policy, France politics+economy, full employment, Greek sovereign debt crisis, Italian debt crisis, J.M.Keynes, Keynesian multiplier, monetary policy, Uncategorized | Tagged , , | Leave a comment

Reinhart and Rogoff study based on flawed data:I pointed this out in 2010

It comes as no surprise to me that researchers at the University of Massachusetts at Amherst have published a study showing that the conclusions which Carmen Reinhart and Kenneth Rogoff drew about debt and economic growth were inappropriate and unjustified … Continue reading

Posted in business cycles, deficit hysteria, deficits and debt, Uncategorized, unemployment | Tagged , , | Leave a comment

Unemployment in Europe averages 12 % as of February 2013

The bitter fruits of austerity are on display in the latest unemployment report from Eurostat. Overall there are 26 million people out of work in Europe. unemployment averages 12 %. It is 10.8 % in France,7.7 % in the U.K., … Continue reading

Posted in austerity, business cycles, deficit hysteria, European debt crisis, European unemployment, fiscal policy, France politics+economy, monetary policy, Spain, U.K. economy, Uncategorized, unemployment | Tagged , , | Leave a comment

Cypriot events send worrisome message to savers and bank customers throughout Europe.

The dust is now settling on the wreckage of the Cypriot economy and its financial services sector. In a move that shocked many millions of people in Europe and elsewhere the European union , the ECB and the IMF imposed … Continue reading

Posted in austerity, business cycles, Cyprus banks, deficit hysteria, European unemployment | Tagged , , | Leave a comment