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Sat, 14/01/2023 - 18:13
Therese Coffey mentioned challenging times twice in the Commons debate on Thursday last. That the times are so challenging is, in large part, a result of the government itself, which, having, entirely unnecessarily, denuded the state of investment since 2010, is creating the vast majority of the ongoing and everyday challenges for its own people.... Read more
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Sat, 14/01/2023 - 15:45
Dear ES/PE community members, find below an abundant and extraordinary list of great academic opportunities: 26 calls for papers for conferences (some are fully or partly funded) and special issues, 11 postdoc positions, 9 PhD fellowships, 7 job openings, 6 summer schools, a visiting position and an award in economic sociology, political economy, and related […]
Created
Sat, 14/01/2023 - 13:38
Video and transcript.
Economists Radhika Desai and Michael Hudson introduce their show Geopolitical Economy Hour discussing the rise of the multipolar world and decline of US hegemony.
Geopolitical Economy
Geopolitical Economy Hour
Economists Radhika Desai & Michael Hudson explain multipolarity, decline of US hegemony
Created
Sat, 14/01/2023 - 12:00
Baby sloth! On Thursday, the London Zoo announced the birth of its first animal in 2023 — a two-toed sloth born on New Year’s Day. Before sixteen-year-old mom Marilyn gave birth, she was closely monitored with regular ultrasounds during her 10-11 month pregnancy, the U.K. zoo said in a press release. Because of a sloth’s long gestation, the nocturnal mammals native to South America are well-developed at birth, so they can eat food and hold on tight to their mother shortly after entering the world. “We were delighted to finally spot a tiny baby exactly where it should be, clinging onto Marilyn’s tummy, as she curled up in her favorite tree,” sloth keeper Veronica Heldt said of the first time the zoo spotted the baby animal. “We’ve nicknamed the little one Nova, which means ‘new’ in Latin, as we couldn’t have asked for a better start to the new year,” the zoo shared in its release. The London Zoo won’t know the youngster’s sex until vets confirm it through a DNA test. Male or female, the newborn is a valuable addition to its species.
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Sat, 14/01/2023 - 10:08

You know the drill.It was just explained in a previous post here.

The Lens
What Every American Needs to Know About the Congressional "Pay-For" Game (Part 2)
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders
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Sat, 14/01/2023 - 09:00
So he invents one He’s at it again: In the midst of implementing its own controversial new program for dealing with the flow of migrants across the U.S.-Mexico border, the White House on Wednesday criticized Gov. Ron DeSantis of Florida for deploying the National Guard to handle the arrival of undocumented immigrants from Cuba. “We are talking about people who are coming from countries, who are dealing with political strife,” White House press secretary Karine Jean-Pierre said at Wednesday’s press briefing. “They’re trying to find asylum — and he’s treating them like pawns.” She charged that DeSantis was “not dealing with the problem. He’s actually creating a problem.” Last week, DeSantis deployed the National Guard to deal with what his office described as an “alarming influx of migrants landing in the Florida Keys,” though it was unclear just what the Guard’s role would be. According to the governor’s office, 300 migrants fleeing Cuba and other countries landed at Dry Tortugas National Park last week, and another 45 made landfall at Key West.
Created
Sat, 14/01/2023 - 08:15

More handwringing over "losses." Well, one party's loss is another party's gain.

They still don't get that QE involves fiscal withdrawals comparable to taxes by transferring interest payments to government while the raising rate involves a fiscal injection comparable to deficit spending by increasing interest payments to nongovernment. That is, the former decreases aggregate net financial assets of non-government (reduces nongovernment net savings in aggregate) while the latter increases aggregate net financial assets of non-government (increases nongovernment net savings in aggregate). QT acts like raising rates in that when the Fed sells bonds or lets them mature, then interest payments to nongovernment increase as a consequence, hence aggregate net financial assets of nongovernment also increase. 

MMT 101. To understand the basics of reserve accounting and bank accounting, see MMT economist Eric Tymoigne's primer on money and banking here.