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Jun 4, 2015
06/15
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i think paul krugman likes to see anything incentivized demand. it be difficult. can you paraphrase paul krugman has position? lisa: government has to do something. they have to implement plans to stimulate growth. the big question that i have is, our policymakers more concerned about the fed raising rates or the appearance of that to bond fund holders who willfully? -- who will flee? they are examining this issue very carefully. that bond fund holders do not ask the way stock bondholders do. they are more inclined to pull money if returns get negative. erik: that is a good point. here is another thesis. the imf coming out publicly like this and commenting on fed policy reflects a division within the fed. we just heard from stan fisher at the fed is going to take into consideration when setting its next interest rate, the impact that will have on non-us economies. i know for a fact that there is not unanimity on that issue. stan fisher having been the former deputy managing director of the imf makes me wonder whether the imf is channeling stan fisher in an effort
i think paul krugman likes to see anything incentivized demand. it be difficult. can you paraphrase paul krugman has position? lisa: government has to do something. they have to implement plans to stimulate growth. the big question that i have is, our policymakers more concerned about the fed raising rates or the appearance of that to bond fund holders who willfully? -- who will flee? they are examining this issue very carefully. that bond fund holders do not ask the way stock bondholders do....
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Jun 5, 2015
06/15
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erik: for paul krugman.phanie: when we return, republican reaction to the massive jobs never. ♪ erik: that is where the action is this morning, washington, d.c., because the labor department reported that 280,000 jobs were added in the month of may, way higher than the average economist forecast. the white house is pleased, and we will be hearing from the labor secretary later in the show. right now, we're getting reaction from the republican side of the aisle. oklahoma representative tom cole is on capitol hill. you have to be pleased with a number like 280,000. congressman cole: absolutely. wage numbers moving up is also a sign of good news. i have very pleased with the number. erik: what does it tell you about the economy? congressman cole: it tells is maybe the disappointing first quarter was related to the weather and not a structural problem. it tells me the fed is probably on track to raise rates a little bit this year. so steady as she goes spirit we still have her all problems. we have an underutili
erik: for paul krugman.phanie: when we return, republican reaction to the massive jobs never. ♪ erik: that is where the action is this morning, washington, d.c., because the labor department reported that 280,000 jobs were added in the month of may, way higher than the average economist forecast. the white house is pleased, and we will be hearing from the labor secretary later in the show. right now, we're getting reaction from the republican side of the aisle. oklahoma representative tom...
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Jun 24, 2015
06/15
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demonstrating that outside the euro, greece was doing much that are, just like nobel prize winner paul krugmand've renegotiated the debt and a please them to see a series of countries knocking on the door saying, i would like to renegotiate my debt, too. we are at the end of the logic. the problem will come back at the end of a few months. >> bespoke this weekend about the social nightmare that the greeks have lived for the past five years. do you think the french are actually ready to live the same nightmare? it cannot happen overnight. >> what is horrible today is that we are threatening to throw grease out of the euro hoping it would be chaos and catastrophe. if we organize greece going out of the euro, and cooley, it will not be a problem. the grexit, and then other exits. they want to battle with the european commission. that is what mr. cameron is doing. predicting a referendum in the -- puttingmoting pressure on the union to cede to the demands from the u.k.. it is a battle between the eu and the people who do not want to lose sovereignty. be madame frexit if the european union does not
demonstrating that outside the euro, greece was doing much that are, just like nobel prize winner paul krugmand've renegotiated the debt and a please them to see a series of countries knocking on the door saying, i would like to renegotiate my debt, too. we are at the end of the logic. the problem will come back at the end of a few months. >> bespoke this weekend about the social nightmare that the greeks have lived for the past five years. do you think the french are actually ready to...
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Jun 25, 2015
06/15
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charlie: as you know, paul krugman has weighed in to it he said, i think it is worth putting up needot happen, the failure of greece. what summers seems to portray is a snare in which greek banks collapse and take down the economy. but what if greece issues its own currency to keep cash flowing? there would be shocked evaluation which would lead to a spike in inflation, but what hyperinflation follow? remember greece is running a l arge cyclically adjusted surplus, and that even given economic recovery, it would not need to roll the printing presses to pay its bills." larry: well, as paul well knows the deficit you have is the deficit you have not the cyclically adjusted deficit you have. the cyclically adjusted deficit you have is an economist's concept. the deficit you have is what controls your pressure for printing money. and perhaps, there would be a way of executing rapid switch to a drachma with a substantial devaluation that increased competitiveness that performed provided a basis for stronger exports and led things in a positive direction. that's conceivable. but given the
charlie: as you know, paul krugman has weighed in to it he said, i think it is worth putting up needot happen, the failure of greece. what summers seems to portray is a snare in which greek banks collapse and take down the economy. but what if greece issues its own currency to keep cash flowing? there would be shocked evaluation which would lead to a spike in inflation, but what hyperinflation follow? remember greece is running a l arge cyclically adjusted surplus, and that even given economic...
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Jun 25, 2015
06/15
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. >> rose: as you know paul krugman has weighted in on this and he said i do think it's worth pointing out that this need not happen the failure of greece, even if it is no deal am what summers seems to portray is an scenario in which greek banks collapse and take down the economy with them. but what if greece abandons the euro and issues its own currency to keep it going. for sure there will would be a sharp devaluation which would lead to a spike of inflation, but would hyperinflation follow. remember greece is running a large adjusted primary surplus, that is given even a modest economic recovery it would not need to roll the printing presses to pay its bills. >> well, as paul well knows, the deficit you have is the deficit you have not the cyclically adjusted deficit you have. the cyclically adjusted deficit you have is an economist's concept. the deficit you have is what controls your pressure for printing money. and perhaps there would be a way of executing rapid switch to a drachma with a substantial devaluation that increased competitiveness, that performed a basis-- provided a
. >> rose: as you know paul krugman has weighted in on this and he said i do think it's worth pointing out that this need not happen the failure of greece, even if it is no deal am what summers seems to portray is an scenario in which greek banks collapse and take down the economy with them. but what if greece abandons the euro and issues its own currency to keep it going. for sure there will would be a sharp devaluation which would lead to a spike of inflation, but would hyperinflation...
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Jun 3, 2015
06/15
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as paul krugman documented, one of our best writers on public policy, hillary clinton was to the leftn 2008 on health care. when president obama signed the bill that weakened the financial reform bill somewhat -- not a huge way, but i wish he hadn't done that, although it was republican pressure that forced him into what he felt. hillary clinton spoke right out and said she was against it. she was an original supporter of a broader health care bill. look, i wish that somebody who had a set of -- positions, for instance, like mine, could get elected president. and if i thought that maybe i would have run, although i think jim would have not really enjoyed being the first man. but -- >> congressman -- >> i want to elect somebody and when billy crystal, on behalf of the republicans starts -- >> you know -- >> undermining hillary clinton, i think that's a -- >> mr. crystal is making the case for bernie, obviously, as a way of attacking mrs. clinton. but if you look at the run warren run campaign what you're hearing is not an anti-clinton campaign, but a pro fighter campaign. presumably se
as paul krugman documented, one of our best writers on public policy, hillary clinton was to the leftn 2008 on health care. when president obama signed the bill that weakened the financial reform bill somewhat -- not a huge way, but i wish he hadn't done that, although it was republican pressure that forced him into what he felt. hillary clinton spoke right out and said she was against it. she was an original supporter of a broader health care bill. look, i wish that somebody who had a set of...
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Jun 15, 2015
06/15
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paul krugman has already jumped in to say it is not that big of a deal.a deal it is. olivia: the volatility at this point is incalculable. yields on the german 10-year went from five basis points to 1% in a matter of six weeks. a lot of bond managers are trying to figure out if you have to price in more risk their it do you deal with this? how do you strategize for it? maybe you have to play duration differently. brendan: this is something that the oversight council in the u.s. is worried about. daniel tarullo said recently that they are studying this, the october 15 phenomenon where there was a loss of liquidity in treasuries. vonnie: and you also have the ukrainian prime minister. olivia: yes, petro poroshenko. we will have a live interview with the president of ukraine. there is lots to discuss with him over the weekend. reports of fighting where -- new reports of fighting, where one serviceman was killed. brendan: there was a security conference in poland, where the atlantic council report says it is war. the russians are absolutely doing this. olivia
paul krugman has already jumped in to say it is not that big of a deal.a deal it is. olivia: the volatility at this point is incalculable. yields on the german 10-year went from five basis points to 1% in a matter of six weeks. a lot of bond managers are trying to figure out if you have to price in more risk their it do you deal with this? how do you strategize for it? maybe you have to play duration differently. brendan: this is something that the oversight council in the u.s. is worried...
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Jun 24, 2015
06/15
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paul krugman suggest we need go back to hicks on the i.s. curve versus the l.m. banking curve.need to think simpler? bill: we need the b.b. curve. we need the bond market curves. we need financial markets to be in. that is what is missing. what we talk about growth, we have supply side, potential growth -- tom: but no demand. bill: where is that? that is the pathetic heart of our profession as we do not have the models. tom: did he show unusual courage to get us off the stereotypes looking for higher inflation? bill: he did. more power to olivier that he tried to shift the imf more towards it. vonnie: if we accept your premise that federal reserve officials do not understand financial markets, then what are they getting run? bill: they don't appreciate how the guts of the plumbing of financial markets may make it almost impossible for them to affect the gradual increases. vonnie: you are expected some kind of tomorrow when the fed raises rates. bill: think about taper tantrum. that was on the whiff of slowing down purchases. tom: shock is what happens when you get into these te
paul krugman suggest we need go back to hicks on the i.s. curve versus the l.m. banking curve.need to think simpler? bill: we need the b.b. curve. we need the bond market curves. we need financial markets to be in. that is what is missing. what we talk about growth, we have supply side, potential growth -- tom: but no demand. bill: where is that? that is the pathetic heart of our profession as we do not have the models. tom: did he show unusual courage to get us off the stereotypes looking for...
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Jun 20, 2015
06/15
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CSPAN
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the federal reserve is, you know, part of the issue, but there is also fiscal policy, and also paul krugman talked about secular stagnation. if you are familiar with that. so yeah, if you can talk about those two things. guest: sure. on the fiscal policy side, if you could get members of the fed in their heart of hearts to talk about the last few years, i think they would feel like they have done a lot of the heavy lifting, for example, the sequester at the federal level a couple of years ago came along at a pretty an opportune time, and they felt like well, my gosh, we are just trying to get the economy back on its feet and keeping interest rates low, and doing this quantitative easing. and then the other side, the fiscal side, is engaging in a contractionary action that is kind of undercutting what we are trying to do. monetary fiscal policy coordination is always a difficult issue in economics. there are theories analyses, things like that the people apply, who should go first, who should do what, and it gets very complicated. the long and short of it is the fed feels it kind of has held
the federal reserve is, you know, part of the issue, but there is also fiscal policy, and also paul krugman talked about secular stagnation. if you are familiar with that. so yeah, if you can talk about those two things. guest: sure. on the fiscal policy side, if you could get members of the fed in their heart of hearts to talk about the last few years, i think they would feel like they have done a lot of the heavy lifting, for example, the sequester at the federal level a couple of years ago...