Monthly Archives: October 2011

MF Global brokerage goes bankrupt :Excessive leverage and overexposure to European debt seem factors

Posted on October 31, 2011 by haroldchorneyeconomist

MF global a U.S. brokerage house headed by Jon Corzine, a former executive with Goldman Sachs, a former U.S.Senator and former Governor of New Jersey has declared bankruptcy in New York, apparently a victim of excessive leverage and over exposure … Continue reading →

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European solution seems on track for the moment:Falling financial dominoes to be shored up.

Posted on October 27, 2011 by haroldchorneyeconomist

While the financial markets wait with keen anticipation it does seem from studying the entrails of reports emanating from Brussels that the long awaited made in Europe solution to the sovereign debt crisis triggered by the spectre of the failure … Continue reading →

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Keynes:Alive and Well

Posted on October 18, 2011 by haroldchorneyeconomist

Way back in 1996 I wrote an op ed piece for the business pages of the Toronto Globe and Mail in response to the anti-Keynesian musings of Terence Corcoran a business columnist for the Globe and Mail who was convinced … Continue reading →

Posted in austerity, Canada, classical economics, deficit hysteria, deficits and debt, fiscal policy, full employment, J.M.Keynes, labour market clearing, treasury view, Uncategorized, unemployment | 1 Comment

Turbulence continues European debt, High unemployment + Reforming Wall Street dominate news

Posted on October 17, 2011 by haroldchorneyeconomist

As we begin the new week there is a lot to reflect upon. The Europeans are supposedly going to resolve the deadlock over how to repair the bailout of Greece. Their austerity program has not worked and Greece now needs … Continue reading →

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The Deficit:Hysteria and the Current Crisis

Posted on October 11, 2011 by haroldchorneyeconomist

DeficitPapers-Chapter 2 – This essay  originally written in 1983-84 and the introduction to it (1992) was reprinted in my book with Phillip Hansen Toward a Humanist Political Economy published in 1992. I am including it here because it contains analysis … Continue reading →

Posted in austerity, business cycles, Canada, classical economics, deficit hysteria, deficits and debt, European debt crisis, Federal Reserve, fiscal policy, full employment, J.M.Keynes, monetary policy, quantitative easing, U.S., Uncategorized, unemployment | 2 Comments