Tag Archives: economy

Main Argument Against Economic Stimulus is Proven Wrong

The Economic Argument Is Over — Paul Krugman Has Won

Reblogged from Business Insider: To Read more: http://www.businessinsider.com/paul-krugman-is-right-2013-4#ixzz2RPvVxsHu

For the past five years, a fierce war of words and policies has been fought in America and other economically challenged countries around the world.

On one side were economists and politicians who wanted to increase government spending to offset weakness in the private sector. This “stimulus” spending, economists like Paul Krugman argued, would help reduce unemployment and Continue reading


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By James Carlini

Did you know that the amount owed on college student loans is over $1 Trillion and two thirds of the graduating seniors (in 2011) owe a little over $26,000 when they walk out trying to find a job?  (Source: http://projectonstudentdebt.org/ )

The amount owed for student loans is more than what is owed on the total amount of credit card debt.  The big difference is that you cannot Continue reading

Professor Ann Lee Talks About What U.S. Can Learn from China

Ann Lee ChinaAnn Lee, Senior Fellow at Demos Talks to Us About Opportunities and What the U.S. Can Learn From China

Professor Ann Lee teaches Economics and Finance at New York University and at Peking University as well as being a Senior Fellow at the famous Demos Think Tank.

I have to commend and thank Professor Ann Lee.

I double booked our appointment confusing PST and EST. My wife told me I would do this eventually.

I had my main phone line shut down so I had to do the interview on my cell phone while a Verizon tech fixed my main line and he wanted to give me progress reports all during this interview.

I know little about China compared to Ann so I had to edit out several very stupid questions.

All in all Ann was a trooper and stuck with me even though she had an appointment with CNN right after our call.

Ann please except my apologies for I know this was one of the rougher interviews you had to do this week. Also thank you for your brilliance and insight on these matters.

We are no longer headed towards becoming a global economy. We are well entrenched in it now.As a nation, we have to learn the truth about our world and other nations and open ourselves up to possibility.

We cannot, as a country, grow out of our current situation by coddling our uneducated, lack minded fear about the other guy. Instead we must take the risk to lean into our fears and embrace all the world had to offer and teach us. – JW

Ann Lee

Adjunct Professor NYU and Peking Univ. Senior Fellow Demos

Ann Lee focuses on issues of global economics and finance, and is writing a book on U.S.-China relations.

A former investment banker and hedge fund partner, she is a frequent media commentator on economic issues. In addition to television and radio appearances on Bloomberg, ABC, CBS, CNN, and NPR, her op-eds have appeared in such publications as The Financial Times, The Wall Street Journal, Newsweek, Businessweek, Forbes, and Worth.

She has been quoted in hundreds of publications and has been an invited speaker at numerous industry and academic conferences.

Ann is also an adjunct professor of economics and finance at New York University and a former visiting professor at Peking University where she taught macroeconomics and financial derivatives.

While she was teaching at Peking University, she also acted as an economic advisor to Chinese economic officials as well as to several large Chinese asset management firms.

She was educated at U.C. Berkeley, Princeton University’s Woodrow Wilson School of International Affairs, and Harvard Business School.

She is currently a Senior Fellow at Demos, a multi-issue national organization that combines research, policy development and advocacy to influence public debate and catalyze change.

ann lee what can the us learn from chinaBook

What The U.S. Can Learn From China

While America is still reeling from the 2008 financial crisis, a high unemployment rate, and a surge in government debt, China’s economy is the second largest in the world and many predict will surpass the U.S. by 2020.

President Obama called China’s rise “a Sputnik moment”—will America seize this moment or continue to treat China as its scapegoat?

Mainstream media and the U.S.government regularly target China as a threat. Rather than viewing China’s power, influence, and contributions to the global economy in a negative light, Ann Lee asks:

  • What can America learn from its competition?
  • Why did China suffer so little from the global economic meltdown?
  • What accounts for China’s extraordinary growth, despite one of the highest corporate tax rates in the world?
  • How does the Chinese political system avoid partisan rancor but achieve genuine public accountability?

From education to governance to foreign aid, Lee details the policies and practices that have made China a global power and then isolates the ways the U.S. can use China’s enduring principles to foster much-needed change at home.

This is no whitewash. Lee is fully aware of China’s shortcomings, particularly in the area of human rights, She has relatives who suffered during the Cultural Revolution. But by overemphasizing our differences with China, the U.S.stands to miss a vital opportunity.

Filled with sharp insights and thorough research, What the U.S. Can Learn from China is Lee’s rallying cry for a new approach at a time when learning from one another is the key to surviving and thriving.

Key points about the book:

  • Lays out what America can gain by studying China’s approach to politics, economics, finance, education, foreign policy and more
  • Author Ann Lee, a self-proclaimed “tiger mother for the U.S.economy,” has experience on both sides of the Pacific—she has taught in China and worked on Wall Street
  • Counters the trend of demonizing China by offering a rare nuanced view of how Chinese society actually works


Think Tank

A multi-issue national organization, Demos combines research, policy development and advocacy to influence public debate and catalyze change. Founded in 2000 and headquartered in New York City, Demos works with advocates and policymakers around the country in pursuit of three overarching goals:

  • A more equitable economy with opportunity for all;
  • A robust democracy in which all Americans are empowered to participate;
  • A strong public sector that can provide for our common interests and shared needs.


NOTE: In the interview I mention SME’s and TVE’s. For clarity I have here the meaning of the acronyms.

SME Small to Medium Sized Enterprise
TVE Township and Village Enterprise

Contact Ann Lee:
Website / Blog
10 Lessons the U.S. Can Learn form China (Huffington Post)

Twitter: @AnnLeesays
Facebook AnnLeeSays
Linkedin: Ann Lee

Larry McDonald on The Collapse and The Future of the Economy

lawrence mcdonaldLarry McDonald Former Lehman VP and NY Times Bestselling Author on The Collapse and The Future of the Economy.

Lawrence G. McDonald Senior Director at Newedge and NY Times Bestselling Author of “A Colossal Failure of Common Sense – The

Inside Story of the Collapse of Lehman Brothers; certainly the first and one of the most comprehensive and well written books on the collapse of Lehman Brothers and the economy as a whole, sat down with me to discuss his life, the book, the fall of Lehman and what he believes is going on with the economy both nationally and internationally.

Larry is known for successfully reading market trends both during the dot com meltdown of 2000 and was one of a group of people at Lehman’s that actively predicted the fall of the real estate markets in 2008 when everyone else was bullish.
I really enjoyed Larry’s book because it is a great story and Larry lays out the confusion of those tense days of crash in a way everyone can understand and

I want to thank Larry’s staff for their time and patience and Larry for the incredible amount of time he spent with me as his schedule is nuts!. – JW

Lawrence G. McDonald


Larry McDonald has written New York Times Best Seller “A Colossal Failure of Common Sense” about the collapse of Lehman Brothers, with Patrick Robinson, the #1 New York Times best selling author of Lone Survivor.

Global Lecture Tour

Larry is on the lecture tour, recently speaking at Universities, Banks, Investment Firms, Law Firms and Insurance companies.

His speaking engagements have been all over the United States, Europe and Asia. He has been a Keynote Speaker at over 20 venues since his book was published.

lawarence G. McDonald lehman a colossal failure of common sense

“A Colossal Failure of Common Sense – the Inside Story of the Collapse of Lehman Brothers,” was published by Random House 7/21/09, and hit the New York Times bestseller list in its first week. It is now one of the bestselling business books in the world, translated into 12 different languages. Larry is President and Founder of LGM Group, LLC an asset mgmt firm, specializing in Washington, DC policy research and trading, based in New York City.

Larry has been a guest and or contributor on CNBC, MSNBC, the New York Times, Fortune, CNN, CCTV China, France 24, BBC World, BBC America, Barron’s, Channel 4 News London, Bloomberg TV, Fox TV, Fox Radio, CBS, PBS Frontline and NewsHour with Jim Lehrer, CBC News Canada, Business Week, The Economist, Die Zeit Germany, Tokyo TV, the Financial Times, Time Magazine, NPR, and the New York Post. Read More…..

Larry Mcdonald book a colossal failure of common sense lehman brothersThe Book

One of the biggest questions of the financial crisis has not been answered until now. What happened at Lehman Brothers and why was it allowed to fail, with aftershocks that rocked the global economy? In this news-making, often astonishing book, a former Lehman Brothers Vice President gives us the straight answers—right from the belly of the beast.

In A Colossal Failure of Common Sense, Larry McDonald, a Wall Street insider, reveals the culture and unspoken rules of the game like no book has ever done. The book is couched in the very human story of Larry McDonald’s Horatio Alger-like rise from a Massachusetts “gateway to nowhere” housing project to the New York headquarters of Lehman Brothers, home of one of the world’s toughest trading floors.

We get a close-up view of the participants in the Lehman collapse, especially those who saw it coming with a helpless, angry certainty. We meet the Brahmins at the top, whose reckless, pedal-to-the-floor addiction to growth finally demolished the nation’s oldest investment bank. The Wall Street we encounter here is a ruthless place, where brilliance, arrogance, ambition, greed, capacity for relentless toil, and other human traits combine in a potent mix that sometimes fuels prosperity but occasionally destroys it.

The full significance of the dissolution of Lehman Brothers remains to be measured. But this much is certain: it was a devastating blow to America’s—and the world’s—financial system. And it need not have happened. This is the story of why it did. Read More…..

Where you can find Larry:
Twitter @convertbond
Blog LawrenceGMcDonald.com