You may have heard that the US debt just reached its highest level in history. THIRTY ONE TRILLION DOLLARS! “Run for the caves!”, as someone at CBO once joked in a meeting I attended in 2015. The New York Times marked the occasion with this article yesterday, and CNN ran a full segment talking about what it all (supposedly) means for everyday Americans early this morning. (I’m having trouble finding a link to the latter, but I watched it live.)
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Wages and child-to-staff ratios are key drivers of child care costs at licensed centers. A model shows the relationship between these factors and costs as a share of household income.
If you could live anywhere in the wasteland, where would you go?
Jim Chalmers has a once in century opportunity to spend a quarter of a trillion dollars on nation building without going into a cent of debt. In fact, if he chooses his public investments well he could drive growth up, cost of living down, and pay down the Morrison Government’s debt faster than currently expected.
The post Jim Chalmers has a unique chance to remake Australia – or to squander $243bn on the rich appeared first on The Australia Institute.
In Episode 2, Duncan and Mark review Starship Troopers, the 1997 Paul Verhoeven and Ed Nieumeyer film that is part tragedy, part comedy, all comment on the farce that is a future in which Nazis have been normalised and the cast of Melrose Place do humanity’s shooting, spaceship driving and brain-bug hunting. Yesterday’s Tomorrow Today
The post Starship Troopers appeared first on The Australia Institute.
If you wanted to address bracket creep, the Stage 3 tax cuts would be the worst way to do it.
The post Stage 3 tax cuts do little to correct bracket creep except for the wealthy appeared first on The Australia Institute.
Remains in positive growth mode: No recession indication here- this is a forecast for Friday’s employment report: My take is at the July meeting with President Biden the Saudis agreed to bring prices down in return for various favors. The only way for this to happen was for them to confidentially discount their official selling […]
The post ISM services, ADP, oil, trade, Fed Atlanta GDP Now appeared first on Mosler Economics / Modern Monetary Theory.
Last week SBS journos – self-appointed guardians of journalistic truth – were wondering:
Here is a clip from one of our live songwriting sessions on our Twitch channel. We just turn on the camera and try out ideas and see where they take us.
Here is a clip from one of those sessions we posted to our YouTube Channel.
Play this one in b (Live Stream Clip)
This song idea is based on an old 30-second audio file we found
The song idea we play in the video is actually based on a short audio snippet we found in our sessions library.The first few measures we play are what was from the audio snippet we found and we kind of go off from there.
We don't remember recording the original so we thought we would see what we could do with it live.
October 6, 4:00 pm (ET)
Interdisciplinarity is critical in pushing the humanities to better understand humans.
The federal budget’s purpose is to ensure critical federal programs and services are funded. Here’s how, in plain language.
Central Banks Are Stocking Up On Gold Which Countries Own the Most Gold | SchiffGold “Central banks purchase a net 270 tons of gold through the first half of the year. This fell in line with the five-year H1 average of 266 tons.” This is the driving force behind gold. When central banks buy it, […]
Liz Truss’s destruction of the fabric of our nation is not an accident. It’s the design. By George Monbiot, published in the Guardian 30th September 2022 The ecological destruction Liz Truss plans to unleash on this country is not collateral damage. It is not a byproduct of her economic programme. It’s a mark of true […]
UK Prime Minister Liz Truss’ remarkable decision to scrap her own tax cuts offers an incredible opportunity for the Albanese government. After weeks of outrage from voters, her own backbench and even the financial markets that once trumpeted the benefits of tax cuts, common sense and economic sense combined to deliver a timely, if humiliating, backflip. Here
The post Liz Truss’ spectacular tax backflip gives Albanese a chance to do the sam appeared first on The Australia Institute.
Steve Martin and Harry Bliss will be discussing their new book NUMBER ONE IS WALKING at two events this November. Click here to get all the information for their in-person event at The Town Hall in NYC and their virtual event with indie bookstores.
You may have heard that the United Nations (U.N.) is urging the Federal Reserve and other central banks to stop raising interest rates. That’s how The Wall Street Journal reported the release of a new report yesterday. Not exactly. It’s not the position of the United Nations (general assembly) but the view of an agency
How do we regulate an information utility?
At the end of July, Microsoft and Google’s parent company, Alphabet, presented their latest and relatively disappointing economic results blaming it on the macroeconomic distress. What may have gone unnoticed is that both companies referred to their clouds as the main engines of growth. The cloud was also responsible for Amazon’s better-than-expected quarterly results.
Continues to look to me to like the increased government deficit from the rate hikes, at the macro level, continues to support output and employment and is not triggering a recession as feared? Still a very high number- well above pre-Covid levels: Back to pre-Covid trend line: A slight decline for the month but still […]
Medhora has served on INET’s Board since 2012 and is a distinguished fellow and former president of the Centre for International Governance Innovation (CIGI).
October 4, 2022, (New York City) — The Institute for New Economic Thinking (INET) is pleased to announce the appointment of the new Chair of its Board of Directors.
“On behalf of the Board of Directors, I’m delighted to announce Rohinton P. Medhora as the Chair of the Board, who will be instrumental in the next phase of INET,” said INET’s President Rob Johnson (09-30-22).
INET’s outgoing Chair, Chris Canavan, served on the board for over a decade and as chair for four years. "We are grateful for his diligent service and Chairmanship,” said Johnson.
The reaction to the sabotage of three of the four Nord Stream 1 and 2 pipelines in four places on Monday, September 26, has focused on speculations about who did it and whether NATO will make a serious attempt to discover the answer. Yet instead of panic, there has been a great sigh of diplomatic Continue Reading
The post The Euro Without German Industry first appeared on Michael Hudson.My favourite BBC article has been rewritten again and more inaccuracies added. Let’s go through them.
So far so good for Q3 that ended Sep 30- about in line with pre-Covid growth rates: Much like the US, much of the rest of the world is hiking rates with high debt/GDP and supporting their economies that had slowed from fiscal contraction with massive government interest payments- universal basic income for those who […]
The post Construction spending, GDP forecast, Canada PMI, earnings forecasts appeared first on Mosler Economics / Modern Monetary Theory.