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Lending Slowdown Suggests Rate Hike Pause

Posted May 26, 2023

Fed Chairman Powell has said that the recent turmoil in the banking sector is likely to cause bank lending to slow; and that slower bank

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Download My Speech To Members Of Congress

Posted May 16, 2023

On February 27th, I delivered a speech titled “How to Finance the Next American Century” before 15 members of the House Ways and Means Committee in Washington. 

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BBC World Business Report Interview on the De…

Posted May 10, 2023

Tonight, I discussed the US Debt Ceiling Crisis on the BBC’s World Business Report. I suggested that the Republicans in Congress are pursuing the wrong

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Debt Ceiling Austerity: A Recipe for Stagnati…

Posted May 9, 2023

Republicans in Congress are once again insisting on a return to Austerity in exchange for lifting the country’s debt ceiling. Austerity can only lead to

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The Uncertain Outlook For Asset Prices

Posted April 27, 2023

Home prices in the US are falling and it is very probable that they will continue to fall. The future direction of stock prices, however,

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Unchartered Territory

Posted April 14, 2023

Last year, Total Credit in the United States expanded by $5.1 trillion to $93.5 trillion.  Total Credit first exceeded $1 trillion in 1964.  Next year it will

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