The latest wages price index figures show that for the first time since 2013 wages grew by more than 3% in the past year.
The post Wages growth improves but real wages fall at a record rate appeared first on The Australia Institute.
Reading
It was a big announcement day yesterday! And our Saucer Country campaign is going amazingly! Secret Invasion It’s now been announced that I’m writing the novel of the acclaimed Marvel comic series Secret Invasion, which was originally written by Brian Michael Bendis with art (on the main title) by Leinil Francis Yu. The novel will ... Read More
Invisible but essential to the global recycling industry, the cardboard collectors of Miami-Dade earn a living by breaking down each piece of cardboard by hand, with no guaranteed income or labor protections.
The Federal Open Market Committee is the Fed’s monetary policymaking body. How does the FOMC voting rotation work, and who votes at FOMC meetings?
Julian Reynolds Moves in oil prices have significant implications for the global economic outlook, affecting consumer prices, firm costs and country export revenues. But oil futures contracts tend to give an imperfect steer for the future path of oil prices because, at any given time, futures contracts may be affected by a wide range of … Continue reading What is the information content of oil futures curves?
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The post Greenwashing and Taxing Gas in the Crosshairs | Between the Lines appeared first on The Australia Institute.
Business groups like the ACCI and AI Group say they want higher wages, but their recommendations for minimum wage rises show they rarely want real wages to rise
The post Business groups say they want higher wages, but their actions show the opposite appeared first on The Australia Institute.
The current energy market structures, including the short-run-marginal-price-on-all nature of the current wholesale market, are not fit for a transition to a renewables-dominated system.
The present emergency responses to the energy crisis across Europe are unsustainable and are generating acute economic and political tensions, which could grow. The UK moved from targeted fiscal supports to a more general price cap on electricity, which, due to its cost (to government) is now set to end after this winter, with a search for new approaches. In the EU, following an acute focus on gas prices, attention is turning to the scale of unequal cost burdens and windfall profits in the European electricity market, precipitating urgent debate about reforms that could also align with the need to further accelerate the move away from fossil fuel generation.
Moving away from fossil fuels, towards a system with a far greater contribution from variable renewables, means that the current system is not fit for purpose.
Total household debt balances continued their upward climb in the third quarter of 2022 with an increase of $351 billion, the largest nominal quarterly increase since 2007. This rise was driven by a $282 billion increase in mortgage balances, according to the latest Quarterly Report on Household Debt & Credit from the New York Fed’s Center for Microeconomic Data. Mortgages, historically the largest form of household debt, now comprise 71 percent of outstanding household debt balances, up from 69 percent in the fourth quarter of 2019. An increase in credit card balances was also a boost to the total debt balances, with credit card balances up $38 billion from the previous quarter. On a year-over-year basis, this marked a 15 percent increase, the largest in more than twenty years.
NUMBER ONE IS WALKING is an illustrated memoir of Steve Martin's legendary acting career with stories from his most popular films with artwork by New Yorker cartoonist Harry Bliss. The book is filled with anecdotes from film sets, exploits with co-stars, moments of inspiration, and other stories. Also: stand-up, banjos, writing, and cartooning.
Available now. Order today!
This is what I think of as a signpost article – it points you to something the mainstream media is deliberately not giving the prominence it needs, but I have no personal expertise or inside knowledge to give you. I am just giving you a start to get going. Several readers will have a much […]
The post FTX appeared first on Craig Murray.
Policymakers and market participants are closely watching liquidity conditions in the U.S. Treasury securities market. Such conditions matter because liquidity is crucial to the many important uses of Treasury securities in financial markets. But just how liquid has the market been and how unusual is the liquidity given the higher-than-usual volatility? In this post, we assess the recent evolution of Treasury market liquidity and its relationship with price volatility and find that while the market has been less liquid in 2022, it has not been unusually illiquid after accounting for the high level of volatility.
The 2021 Census provides place of work estimates for small areas across Australia. This data can be highly useful in understanding the structure and change of key employment precincts in your LGA. Every 5...Iran’s protesters will neither submit to the fascism hidden behind the regime’s pseudo-anti-imperialism nor surrender their country to the hegemony of the United States or their economy to financialized capital. The Western left should learn from them. ATHENS – Dealing with random, unprovoked abuse is never easy. But dealing with random, unprovoked praise can be […]
The post The New Iranian Revolution as an opportunity for the Internationalist Left – Project Syndicate appeared first on Yanis Varoufakis.
Today’s blog post highlights St. Louis Fed research addressing inflation, financial markets, credit markups, COVID-19 disparities and real estate wealth distribution.
Absentee ballots plunged from a total of 1.28 million in November 2020 to a little over 240,000 in last week’s General Election in Georgia. Given that mail-in ballots in Georgia favor Democrats two-to-one, it is reasonable to conclude this breathtaking 81% drop of over one million mail-in votes likely cost Sen. Raphael Warnock an outright victory. Georgia law requires... READ MORE
Lockdown policies were never planned but created real human costs that will linger for years. We are seeing them now in 2022.
For two days in late October, I attended Clay Clarke’s MAGA-driven ReAwaken America Tour near...
One of the grand traditions of the Past & Present Reading Group is “the pitch.” As we near the end of our current text, those who have engaged with it are given the opportunity to nominate the next book that the group will tackle. At risk of doing an injustice to any selfless members of the group, I would suggest that most pitches combine two motives of the pitcher: on the one hand, a genuine feeling that a collective reading of the suggested text will pay dividends to all members; on the other, a more prosaic, self-interested desire to recommend a book that is important to their own work and which they want to read anyway. Such was definitely the case when I pitched Alex Callinicos’ Making History: Agency, Structure, and Change in Social Theory.
The post Alex Callinicos, Making History: Agency, Structure and Change in Social Theory appeared first on Progress in Political Economy (PPE).