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Good Luck Stopping Austerity With Incremental Platinum Coin Seigniorage!

After all, most people are completely unaware of how deficit spending and debt instruments work, and completely unaware that “debt is not debt” as we MMTers like to say. What they do know is that the United States has more than $16.4 T in debt instruments out there. That scares them, because they’ve been made to believe that it’s their debt, and I think they really don’t care if this “debt” is paid off by taxing more than we spend, or through using platinum coins to get the Federal Reserve to create money out of thin air for Treasury to use in a way that has no obvious short-term effects on them.
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Negotiating with Morons | Monetary Realism

Calculated Risk is one of the best blogs out there. But I think this post makes a serious mistake regarding the debt ceiling negotiation: .., but one thing
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A Gorgeous Visual Of What Happens To The Market When Someone Knows Something 400 Milliseconds Before Everyone Else

A Gorgeous Visual Of What Happens To The Market When Someone Knows Something 400 Milliseconds Before Everyone Else | FifthEstate.co | Scoop.it
In just the time it takes to blink an eye.
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Incentives in the public sector: Some lessons from recent failures | News, views, methods, and insights from the world of impact evaluation

Incentives in the public sector: Some lessons from recent failures | News, views, methods, and insights from the world of impact evaluation | FifthEstate.co | Scoop.it

Empirical evidence on the effectiveness of productivity incentives in the public sector is sparse. However donor enthusiasm is growing for this general approach and certain lessons are emerging. In the spirit of the “learning from failure” movement now emphasized in the World Bank, two recent studies present lessons from relatively unsuccessful public sector incentive pilots. These lessons...

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NAKED KEYNESIANISM: Srinivas Raghavendra on Credit Rating Capitalism

NAKED KEYNESIANISM: Srinivas Raghavendra on Credit Rating Capitalism | FifthEstate.co | Scoop.it

Here is an interesting paper by Srinivas Raghavendra on how the current crisis...

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Facebook's mobile ad revenue doubles in fourth quarter

Facebook's mobile ad revenue doubles in fourth quarter | FifthEstate.co | Scoop.it
Facebook Inc doubled its mobile advertising revenue in the fourth quarter, a sign that the No.1 social network is seeing early success in expanding onto handheld devices as more of its users migrate to ...
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Major Earnings Previews for the Week Ahead

Major Earnings Previews for the Week Ahead | FifthEstate.co | Scoop.it

Earnings season is in full swing and the coming week will have many big earnings announcements. 24/7 Wall St. 

Monday, January 28

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The 12 Best Charts Of The Week

The 12 Best Charts Of The Week | FifthEstate.co | Scoop.it
Everything from per-capita ice cream consumption to the "1994 scenario" that keeps bond traders up at night.
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Growthology: Fifth Annual Kauffman Economic Webloggers' Forum 2013: Economic Weblogging, Financial Weblogging, Weblogging Economists, and Economics of Weblogging...

...all of these are topics that I think fall within the proper purview of this event. And now that they have given me the keys, I am trying to think about how to make it as productive as possible. Here...
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Beowulf and Diehl Embrace Trillion Dollar Coin Incrementalism!

A wonderful discussion thread has been going on at Monetary Realism (MR) after a very good new post by beowulf (Carlos Mucha), who first brought forward the proposal for the Executive Branch to use the authority provided in the 1996 Platinum Coin Seigniorage (PCS) legislation to fill the public purse, on whether the Fed had a legal basis for turning down PCS in the form of the Trillion Dollar Coin (TDC..

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What Would Happen If We Let All The Immigrants In

What Would Happen If We Let All The Immigrants In | FifthEstate.co | Scoop.it
Mickey Kaus has an elaborate theory of social equality vs "Money Liberals" that I don't really understand, but that also leads him to want to kick unauthorized migrants out of the United States and curtail the ability of future migrants to come to...
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Louisiana retirement plan ruled unconstitutional | Economic Policy Institute

Louisiana retirement plan ruled unconstitutional | Economic Policy Institute | FifthEstate.co | Scoop.it

The cash balance retirement plan Louisiana Gov. Bobby Jindal recently signed into law for state workers was declared unconstitutional by a state district judge because it did not pass the Louisiana House of Representatives with a two-thirds majority. The cash balance plan would shift considerable risk onto workers without addressing the issue of unfunded liabilities caused by elected officials’ failure to keep up with required contributions.

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We May Have Avoided the Cliffs, But We Still Face High Mountains

We May Have Avoided the Cliffs, But We Still Face High Mountains | FifthEstate.co | Scoop.it
Compared to where we were at the same time last year, acute risks have decreased. The United States has avoided the fiscal cliff, and the euro explosion in Europe did not occur. And uncertainty is ...
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Bespoke Investment Group - Think BIG - DJIA Highs Actual and Inflation Adjusted

Bespoke Investment Group - Think BIG - DJIA Highs Actual and Inflation Adjusted | FifthEstate.co | Scoop.it

Markets are abuzz this morning as the DJIA is set to open higher for the eleventh day in the last twelve.  As of yesterday's close, the index was just 2.4% below its all-time closing high of 14,164.53 reached on 10/9/07.


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John Taylor, Post-Modern Monetary Theorist

John Taylor, Post-Modern Monetary Theorist | FifthEstate.co | Scoop.it
In the beginning, there was Keynesian economics; then came Post-Keynesian economics.  After Post-Keynesian economics, came Modern Monetary Theory.  And now it seems, John Taylor has discovered Post...
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Brad DeLong : DRAFT… DRAFT… DARFT… Possible Schedule for the Fifth Annual Kauffman Foundation Economics Webloggers Forum 2013: April 12, 2013 #kauffman

Brad DeLong : DRAFT… DRAFT… DARFT… Possible Schedule for the Fifth Annual Kauffman Foundation Economics Webloggers Forum 2013: April 12, 2013 #kauffman | FifthEstate.co | Scoop.it

Is this conference about economic webloggers, about weblogging...

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Reminder: This Is Going To Be A Huge Week For The Global Economy

Reminder: This Is Going To Be A Huge Week For The Global Economy | FifthEstate.co | Scoop.it
Time to let the data do the talking.
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Virtus - Joe Terranova Blog

Virtus - Joe Terranova Blog | FifthEstate.co | Scoop.it

The second week of the earnings season is set to close out. Below is the reported EPS and revenue growth by sector as well as the percentage of positive or negative surprise. Financial institutions continue to stand out, posting...

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Are Currency Warriors’ Gloves Coming Off? « Multiplier Effect

There is much hype about “currency wars” in the international media this week, reaching the heights of the Davos gathering. The excitement seems to have been started by Bundesbank president Jens Weidmann, who earlier this week aired his concerns about an...

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Choice of Mary Jo White to Head SEC Puts Fox In Charge of Hen House | Matt Taibbi | Rolling Stone

Choice of Mary Jo White to Head SEC Puts Fox In Charge of Hen House | Matt Taibbi | Rolling Stone | FifthEstate.co | Scoop.it
Former U.S. Attorney was involved in one of the SEC's most notorious scandals
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My Fav Book

Modern credit, developed during the financial revolution of 1620¬–1720, laid the foundation for England’s political, military, and economic dominance in the eighteenth century. Possessed of a...
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Friday Round up – Inequality, a Web Index, India’s Urbanization & Ranking Development Journals

A new Web Index just went live. Designed and produced by the World Wide Web Foundation, the Web Index — http://thewebindex.org/ —  is a multi-dimensional measure of the Web’s growth, utility and impact on people and nations. It covers 61 developed and developing countries, incorporating indicators that assess the political, economic and social impact of the Web, as well as indicators of Web connectivity and infrastructure. There’s a 2012 index and other details on the Web Index site.

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A Trader Journal: ATJ Digest - Vol 3

A trader's journal on topics related to trading, psychology, money management and technical analysis of Futures, Forex and Stock markets.
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Forget ‘Fab Four’, Men’s Tennis Still More Competitive | The Sports Economist

Forget ‘Fab Four’, Men’s Tennis Still More Competitive | The Sports Economist | FifthEstate.co | Scoop.it

As the Australian Open approaches the business end, this year’s instalment has developed a palpable sense of familiarity of recent years about it. Each of the top four seeded men made the semi-finals, and it’s hard to escape the feeling that fourth-ranked Rafael Nadal would have been in the place of his compatriot David Ferrer if he were present. And so we have the familiar trio of Andy Murray, Roger Federer and Novak Djokovic left standing.

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