But I’m sure it’s bad news for Biden… Dean Baker has the details: GDP Grow 2.9 Percent in 4th Quarter, Driven by Inventories and Service Consumption GDP growth was in line with expectations, with the economy expanding at 2.9 percent annual rate, down slightly from the 3.2 percent rate in the third quarter. Inventory accumulation was the largest single factor, adding 1.46 percentage points to the quarter’s growth. Service consumption added 1.16 percentage points, while a smaller trade deficit added 0.56 percentage points. Housing was a major drag, with residential investment subtracting 1.29 percentage points from growth. The quarter is likely to again show a healthy rate of productivity growth. Payroll hours increased at a 1.1 percent rate in the quarter. A sharp rise in people reported that they are self-employed is likely to raise hours growth to around 1.5 percent, leaving productivity growth in the range of 1.4 percent. This compares to reported declines in productivity in the first half of 2022.
Reading
Two new guest stars have been named for the next series of Doctor Who More casting news for Doctor Who Series Fourteen have been revealed as filming continues on Ncuti Gatwa’s first series as the Doctor. We now know that Anita Dobson and Michelle Greenidge will be featuring but details beyond that are scarce. Their […]
The post Anita Dobson and Michelle Greenidge Join Doctor Who Series 14 appeared first on Blogtor Who.
Conclusions to the trials of both George Pell and Bruce Lehrmann have increased the public's distrust in our legal system. read now...Possible repercussions of economic crisis on the stability of democracies that already show significant signs of fragility
There is a reasonable likelihood that the next global economic crisis could threaten the future of our democratic political systems. The global economic system is a complex, adaptive system, like many others in nature and in society, and shares their basic characteristics. Underlying stresses can result in crises which, moreover, can feed through to destabilize other systems. There is a growing understanding of the damage that can be done to the economy by health pandemics and environmental degradation. In contrast, this new INET Working Paper focuses on interactions working in the opposite direction: more specifically the possible repercussions of economic crisis on the stability of democracies already showing significant signs of fragility.
The principal threat to economic stability currently is the overhang of debt, both private and public.
Not enough Republicans leave the GOP in my opinion, but a few have done it over the past few years. One of the most entertaining and articulate is Tim Miller’s whose book “Why We Did It” is one of the best apologias out there, is always interesting on this topic. If you have a half hour to kill, this is an interesting interview on that topic.
The next CT, edited by Richard unwind is previewed in the Celestial Toyroom section - please click the link above
Join us on Callin to ask us questions in real time.
Setting the record straight. New Keynesianism (typified by Paul Krugman) is not Keynes, nor is it a faithful rendition of John Hicks either.
Lars P. Syll’s Blog
Hyman Minsky and the IS-LM obfuscation
Lars P. Syll | Professor, Malmo University
Lars P. Syll’s Blog
Hyman Minsky and the IS-LM obfuscation
Lars P. Syll | Professor, Malmo University
The New Silk Roads, or BRI, as well as the integration efforts of BRICS+, the SCO and the EAEU will be on the forefront of Chinese policy.Strategic Culture Foundation (sanctioned by the US Treasury Department)
Can You Smell What the Year of the Rabbit Is Cooking?
Pepe Escobar
~ Today's Water Cooler ~
I understand that change is hard and that for many people transgender issues are confusing. (I’m not sure why, exactly, it’s not like it’s new. I knew transgender people back in the 70s…) The apparently desire among the right wing to cause harm to transgender people, ostracize them, discriminate against them — especially those who have turned it into a culture war crusade for cynical political purposes — is making me sick. And the fact that they feel the need to lie about constantly tells you everything you need to know: On Jan. 11, 17-year-old Rebecca Phillips approached the lectern at a sparsely attended city council meeting in Santee, a suburb of San Diego, California. No item on the agenda brought her to city hall that night. Instead, she tearfully recounted how a local YMCA had followed state law and company policy by allowing a transgender woman to use the same locker room that she did. She had no contact with the woman and claimed only to have seen her, but the experience left her “terrified,” she said.
Total US arms transfers for fiscal 2022 topped $50 billion, up nearly 50 percent from prior year.
"Winning bigly." MICIMATT (Military-Industrial-Congressional-Intelligence-Media-Academia-Think-Tank complex), that is.
Breaking DefenseBoston University economics professor Perry Mehrling discusses his recently released INET book, in collaboration with Cambridge University Press, "Money and Empire," which chronicles the life of Charles P. Kindleberger and how he helped shape the emerging global dollar system
Transcript
Rob Johnson:
If only there was not cause, thought the man, for the boy to accompany him here. To this place of commerce. But as the woman reminded him two hours prior, when she dropped off the boy in her Chevy Silverado, it was his weekend.
The man grasped the boy’s hand tightly as they made their way across the asphalt expanse of the parking lot. Their breath spiraled from their lips like plumes of smoke. Ghosts of a burned encampment. The frost had come early this year.
Mind your haste, said the man. He felt the boy’s hand quivering within his own like a hare on the verge of bolting into the brush. The man did not wish to crush the spirit of the boy. But the Crossing was treacherous.
They stopped at the bonewhite lattice of the crosswalk, vigilant for the halogen eyes of oncoming vehicles.
Where do we look?
Both ways, said the boy.
Which ways?
Right and left.
Good, said the man. Right and left. Never back. No good comes of that.
It is self evident that the US: China relationship – with Taiwan at its core – will be the most pressing strategic issue for Australia in 2023. But the volumes of military planning effort, think tank hours, media commentary and the like have added to the uncertainty rather than clarified the scene – beyond a Continue reading »
The rallying call of the Western democracies to form a united front against those who dare to challenge their supremacy has always been “common values”. Our hearts burst with pride and gratitude to think that we have the freedom of speech, of assembly, of dissent and other such privileges that those in other systems do Continue reading »
As federal Treasurer Jim Chalmers ponders the future of Australia’s Productivity Commission (PC), calls for its reform or even abolition have grown louder. Anyone following the media commentary might have the impression that its recommendations have been steadfastly ignored by government for the last two decades. But it’s arguable that the PC and its predecessor Continue reading »
In 1996 Paul Keating said, “when you change the Government, you change the country”. Nothing could be truer as the Albanese Government goes about implementing a far reaching, some might say radical agenda, particularly as it relates to many of Australia’s most marginal and disadvantaged. Since the federal election in May last year, we have Continue reading »
In the wake of Russian President Vladimir Putin’s announcement of a “special military operation” in Ukraine, Central Asian countries, including Kazakhstan, have been reevaluating their foreign policy. These nations are seeking to strike a balance between their relationship with Russia and their engagement with other countries and international organisations. Central Asian countries, including Kazakhstan, have Continue reading »
As the West throws the whole shebang at Moscow, the world’s largest country faces a moment of truth. Predicting the course of political events during particularly volatile periods, such as the one we entered a year ago, is a thankless and meaningless endeavour. Yet in such times, there’s both a need and an opportunity to Continue reading »
Christopher Steele is concerned his dossier on Donald Trump’s Russian connections was held up at the FBI Office whose head of Counter Intelligence has been indicted for working with one of Putin’s most powerful oligarchs