Economic Analysis

Economic and financial commentary by Truman Factor’s staff and contributing analysts.

Debt Ceiling Set For Progressive Repealing

Debt Ceiling Set For Progressive Repealing

The Wall Street bailout melodrama should be viewed as a dress rehearsal for today’s debt-ceiling non-crisis.…

Real Estate 4 Ransom

Real Estate 4 Ransom

Trailer of the Australian documentary on real estate speculation featuring Michael Hudson.…

Debt Ceiling Myths

Debt Ceiling Myths

The American economy currently produces nearly $15 trillion in GDP per annum but has $115 trillion in unfunded liabilities. With a hole like that, no amount of taxes could balance the budget.…

The Euro 1999 – 2012 R.I.P.

The Euro 1999 – 2012 R.I.P.

A bailout of Italy would cost the EU another €500 or €600 billion. Spain would be another €300 billion. Why would Germany and France want to do that?…

Don’t be Fooled by Political Posturing

Don’t be Fooled by Political Posturing

Republicans want to raise the debt ceiling just as much as Democrats, they just want to gain political advantage in the process.…

Brace Yourself

Brace Yourself

The bad news for investors pursuing positive real returns is obvious: the first half of 2011 was painful. The good news is that a set of conditions now exist that we think sets the stage for meaningful structural change... and it may occur soon.…

How the Fed crashed the MBS market

How the Fed crashed the MBS market

A curious thing happened in the RMBS and CMBS markets (ABX) this Spring: it crashed and ultimately recovered only somewhat (at least for the super senior tranches).…

Clear Sailing?

Clear Sailing?

I’m sorry to say that the European debt crisis is just beginning.…

Whither Greece

Whither Greece

One must conclude that the EU’s new central planners are acting as class warriors by demanding that all losses are to be suffered by economies imposing debt deflation and permitting creditors to grab assets... If Greece does not draw a line here, it will be a victory for financial and fiscal aggression imposing debt peonage.…

Greece Is Europe: The Failure Of The Euro (Part II)

Greece Is Europe: The Failure Of The Euro (Part II)

There are two ways out of this mess: default or monetary inflation.…

Greece Is Europe: The Failure Of The Euro (Part I)

Greece Is Europe: The Failure Of The Euro (Part I)

How the EMU works, why it is failing, and why they will resort to fiat money printing to solve it.…

Rolling Back the Progressive Era

Rolling Back the Progressive Era

Financial strategists do not intend to let today’s debt crisis go to waste. The basic model follows the former Soviet Union’s post-1991 neoliberal reforms: privatization of public enterprises, a high flat tax on labor but only nominal taxes on real estate and finance, and deregulation of the economy’s prices, working conditions and credit terms.…

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