Catherina Celosse
I am recovering corporate finance lawyer, graduated from Columbia Law ‘92 and Harvard College ‘86 (East Asian Studies), and churned through contracts in NewYork, Hong Kong, Jakarta, Brussels and Washington DC. The practice of law within four corners of a contract can be engaging and consuming, but as I rode various waves of cross border investment and finance, I saw increasing concentration and gaming of financial rules with little benefit outside the top quintile. Meanwhile, politics in the U.S. ...
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This content submission has two parts: (1) a link to the post by Wolf Richter on deterioration of US subprime credit card debt and loans, driven in part by the overuse of hedonic quality adjustments in the Consumer Price Index (CPI) used by the US Bureau of Labor Statistics, and (2) to introduce Exploring Economics to the website Naked Capitalism, which is an effort to promote critical thinking through the medium of a finance and economics blog and fearless commentary.
This Blog Post describes the U.S. federal reserve money system from the perspective of the Modern Monetary Theory (MMT). Therefore it presents a theory of money creation, gives simple examples how this influences the economy and the historical process of why the monetary system of the US has developed this way.