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	<title>Thomas Palley</title>
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	<link>http://www.thomaspalley.com</link>
	<description>Economics for Democratic and Open Societies</description>
	<pubDate>Wed, 08 Sep 2010 19:29:23 +0000</pubDate>
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		<title>Plan B for Obama on the economy</title>
		<link>http://www.thomaspalley.com/?p=174</link>
		<comments>http://www.thomaspalley.com/?p=174#comments</comments>
		<pubDate>Wed, 08 Sep 2010 19:25:24 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<category><![CDATA[U.S. Policy]]></category>

		<guid isPermaLink="false">http://www.thomaspalley.com/?p=174</guid>
		<description><![CDATA[TO: President Obama
FROM: Thomas I. Palley
RE: How to avoid stagnation and restore shared prosperity
DATE: Labor Day, 2010
Mr. President, 
With hopes of a V- or U-shaped recovery fading, there is the increasing prospect of an L-shaped future of long stagnation, or even a W-shaped future in which W stands for something worse.
The reason for this dismal [...]]]></description>
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		<item>
		<title>The Federal Reserve Should Raise Rates and Lower Them Too</title>
		<link>http://www.thomaspalley.com/?p=171</link>
		<comments>http://www.thomaspalley.com/?p=171#comments</comments>
		<pubDate>Mon, 30 Aug 2010 14:38:18 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<category><![CDATA[Political Economy]]></category>

		<category><![CDATA[U.S. Policy]]></category>

		<guid isPermaLink="false">http://www.thomaspalley.com/?p=171</guid>
		<description><![CDATA[There is much debate over whether the Federal Reserve should tighten or further ease monetary policy. This dichotomous framing overlooks another possibility, which is whether the Fed should change the mix of its stance, tightening in some areas and further easing in others. 
In particular, there are strong grounds for the Fed to abandon its [...]]]></description>
		<wfw:commentRss>http://www.thomaspalley.com/?feed=rss2&amp;p=171</wfw:commentRss>
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		<item>
		<title>Europe’s debt crisis and Keynes’ green cheese solution</title>
		<link>http://www.thomaspalley.com/?p=168</link>
		<comments>http://www.thomaspalley.com/?p=168#comments</comments>
		<pubDate>Wed, 26 May 2010 14:46:13 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<category><![CDATA[Europe]]></category>

		<guid isPermaLink="false">http://www.thomaspalley.com/?p=168</guid>
		<description><![CDATA[The great German physicist Max Planck remarked that “Science advances one funeral at a time.” The situation is worse in economics which is subject to regress, as happened when the valuable but imperfect insights of Keynesianism were supplanted by the ideological blinkers of neoliberalism. 
The effects of this regress have again been on display in [...]]]></description>
		<wfw:commentRss>http://www.thomaspalley.com/?feed=rss2&amp;p=168</wfw:commentRss>
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		<item>
		<title>Euroland Is Being Crucified Upon Its Own Cross of Gold</title>
		<link>http://www.thomaspalley.com/?p=164</link>
		<comments>http://www.thomaspalley.com/?p=164#comments</comments>
		<pubDate>Thu, 18 Mar 2010 14:47:48 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
		
		<category><![CDATA[Europe]]></category>

		<guid isPermaLink="false">http://www.thomaspalley.com/?p=164</guid>
		<description><![CDATA[The last quarter of the 19th century witnessed a period of sustained global deflation. In the 1896 US presidential election, William Jennings Bryan famously attacked the gold standard as the cause of deflation, declaring “You shall not press upon the brow of labor this crown of thorns. You shall not crucify mankind upon a cross [...]]]></description>
		<wfw:commentRss>http://www.thomaspalley.com/?feed=rss2&amp;p=164</wfw:commentRss>
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		<item>
		<title>A Better Way to Regulate Financial Markets: Asset Based Reserve Requirements</title>
		<link>http://www.thomaspalley.com/?p=161</link>
		<comments>http://www.thomaspalley.com/?p=161#comments</comments>
		<pubDate>Mon, 16 Nov 2009 15:18:06 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<category><![CDATA[Political Economy]]></category>

		<category><![CDATA[U.S. Policy]]></category>

		<guid isPermaLink="false">http://www.thomaspalley.com/?p=161</guid>
		<description><![CDATA[There is widespread recognition that the financial crisis which triggered the Great Recession was significantly due to financial excess, particularly regarding real estate lending. Now, policymakers are looking to reform the financial system in hope of avoiding future crises. But like the drunk who looks for his lost keys under the lamp post because that [...]]]></description>
		<wfw:commentRss>http://www.thomaspalley.com/?feed=rss2&amp;p=161</wfw:commentRss>
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		<item>
		<title>Death by Renminbi</title>
		<link>http://www.thomaspalley.com/?p=157</link>
		<comments>http://www.thomaspalley.com/?p=157#comments</comments>
		<pubDate>Mon, 09 Nov 2009 17:04:17 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
		
		<category><![CDATA[China]]></category>

		<category><![CDATA[Economics]]></category>

		<category><![CDATA[Political Economy]]></category>

		<category><![CDATA[U.S. Policy]]></category>

		<guid isPermaLink="false">http://www.thomaspalley.com/?p=157</guid>
		<description><![CDATA[Washington, DC – Over the last several weeks, the dollar’s depreciation against the euro and yen has grabbed global attention. In a normal world, the dollar’s weakening would be welcome, as it would help the United States come to grips with its unsustainable trade deficit. But, in a world where China links its currency to [...]]]></description>
		<wfw:commentRss>http://www.thomaspalley.com/?feed=rss2&amp;p=157</wfw:commentRss>
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		<item>
		<title>A Second Great Depression Is Still Possible</title>
		<link>http://www.thomaspalley.com/?p=153</link>
		<comments>http://www.thomaspalley.com/?p=153#comments</comments>
		<pubDate>Mon, 12 Oct 2009 17:15:14 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<category><![CDATA[Political Economy]]></category>

		<category><![CDATA[U.S. Policy]]></category>

		<guid isPermaLink="false">http://www.thomaspalley.com/?p=153</guid>
		<description><![CDATA[Over the past year the global economy has experienced a massive contraction, the deepest since the Great Depression of the 1930s. But this spring, economists started talking of “green shoots” of recovery and that optimistic assessment quickly spread to Wall Street. More recently, on the anniversary of the Lehman Brothers crash, Federal Reserve Chairman Ben [...]]]></description>
		<wfw:commentRss>http://www.thomaspalley.com/?feed=rss2&amp;p=153</wfw:commentRss>
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		<item>
		<title>Letter to the Queen: Why No One Predicted the Crisis</title>
		<link>http://www.thomaspalley.com/?p=148</link>
		<comments>http://www.thomaspalley.com/?p=148#comments</comments>
		<pubDate>Thu, 30 Jul 2009 14:43:21 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<category><![CDATA[Europe]]></category>

		<category><![CDATA[Globalization]]></category>

		<category><![CDATA[Political Economy]]></category>

		<guid isPermaLink="false">http://www.thomaspalley.com/?p=148</guid>
		<description><![CDATA[Her Majesty The Queen
Buckingham Palace
London
SW1A 1AA
                                                  [...]]]></description>
		<wfw:commentRss>http://www.thomaspalley.com/?feed=rss2&amp;p=148</wfw:commentRss>
		</item>
		<item>
		<title>Motor City Meltdown</title>
		<link>http://www.thomaspalley.com/?p=144</link>
		<comments>http://www.thomaspalley.com/?p=144#comments</comments>
		<pubDate>Tue, 25 Nov 2008 14:02:32 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
		
		<category><![CDATA[U.S. Policy]]></category>

		<guid isPermaLink="false">http://www.thomaspalley.com/?p=144</guid>
		<description><![CDATA[The financial crisis that began in 2007 has been persistently marked by muddled thinking and haphazard policymaking. Now, the United States Treasury is headed for a mistake of historic and catastrophic proportions by refusing to bail out America’s Big Three automakers. 
Make no mistake, if Detroit’s Big Three go bankrupt, the perfect storm really will [...]]]></description>
		<wfw:commentRss>http://www.thomaspalley.com/?feed=rss2&amp;p=144</wfw:commentRss>
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		<item>
		<title>Cut Interest Rates Again</title>
		<link>http://www.thomaspalley.com/?p=141</link>
		<comments>http://www.thomaspalley.com/?p=141#comments</comments>
		<pubDate>Fri, 17 Oct 2008 20:54:14 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<guid isPermaLink="false">http://www.thomaspalley.com/?p=141</guid>
		<description><![CDATA[The recent massive sell-off in global stock markets, despite an earlier coordinated half-point interest rate reduction in the U.S. and Europe, reflects the continuing failure of policy to come to grips with the scale of the problem. Policy has been consistently marked by “Too little, too late” – and in some instances there have been [...]]]></description>
		<wfw:commentRss>http://www.thomaspalley.com/?feed=rss2&amp;p=141</wfw:commentRss>
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