I owe enormous intellectual debts to Hyman Minsky and Augusto Graziani. But at one point, my “little knowledge” led me to believe, falsely, that they had both made a huge mistake in claiming that repaying debt destroyed money: Graziani: As soon as firms repay their debt to the banks, the money initially created is destroyed. … Continue reading "A Little Knowledge is a Dangerous Thing"
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"We ask the simple question, what have we got to hide from public scrutiny?"
Today’s post will be short. I spent the day mostly doing interviews and ran short on time. I was planning to write about Turkey at some point, but Brian Romanchuk beat me to it. So I’m just going to set things up and encourage you to read what Brian has written.
by Brian Czech
If you’re a steady stater, I know what you’re thinking about Hurricane Ian. For starters, of course, you’re deeply concerned about any family or friends you may have in Florida, along with folks in general along Ian’s path. But you’re also wondering, “What about the pollution?”
The marine pollution that accompanies coastal flooding, most notably from violent hurricanes, is probably ignored by the majority of folks,
The post Hurricane Ian: A Profoundly Polluting Event appeared first on Center for the Advancement of the Steady State Economy.
Two measures of housing construction have tended to peak before U.S. recessions after 1970, but the time from those peaks to a recession’s onset has differed.
This One Thing Made Alex Jones Stop Lying
Alex Jones will have to pay millions to the parents of Sandy Hook victims.
Fox News might be on the hook for over a billion dollars after making bogus 2020 election claims.
It turns out there actually might be a way to stop the constant stream of lies coming from the right-wing media. How can we do it? Two words:
Sue. Them.
This won’t defeat the right’s media ecosystem overnight — but defamation law may prove to be one vital weapon in the battle against misinformation. Let me explain.
We've been doing live streams of our songwriting sessions from our studio 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.
Down time: guitars, drums, and bass multi-track (Live Stream Clip)
This is a live video edited into a song from multiple parts
We recorded and edited this songwriting session from a live video stream that was originally about 30 minutes long.
We also recorded the instrument tracks in our Ardour recording software as we streamed the video.
Bond markets are finally getting interesting, with the Bank of England launching emergency purchases to restore order in the gilt market. Since I am not in constant contact with people trading gilts, I will just offer a tentative description of what seems to be going on, and what it “really means.”
Miles Corak discusses the fraying of the American Dream, and the power of inequality to disrupt the promise of social mobility.
Finding a formatting mess when I looked this up on Troppo, I’ve reposted it here for the record. I’m a bit embarrassed by my wooden speaking style. Here’s the David Solomon Lecture I’ll be giving at the Brisbane Museum of … Continue reading
The Federal Reserve sets the federal funds rate. To understand how that affects other interest rates, picture the ripple effects of throwing a pebble on a pond.
Liz Truss has been trained and shaped by dark-money lobbyists. By George Monbiot, published in the Guardian 23rd September 2022 Who chose Liz Truss? Conservative party members, of course. Who are they? Disproportionately rich, white, older men living in the south of England. But there are some members whose profile we have no means of […]
Howdy folks! Today I’ve decided to return to a long-neglected place of terrible vibes, Oakland County, Michigan. The house on special is, one could say, fit for a king but like maybe one of those kings that sells used cars on tv in the wee hours of the night. Anyway:
This house, built during the ripe housing bubble era of 2002, will only cost the good sir a marginal $3.2 million. For such a pittance, one receives 4 bedrooms, 4.5 bathrooms, and around 5,000 square feet. Princely!
Now, you might be thinking that this house will be decked out in the cheesiest middle ages decor imaginable – yes, Kate, surely you shall be showing us a cromulent McCastle specimen. Alas, nay, it is worse than that.
John Maynard Keynes (1930) asserted that the central bank sways the long-term interest rate through the influence of its policy rate on the short-term interest rate. Recent empirical research shows that Keynes's conjecture holds for long-term Treasury yields in the United States.
In a new book, Alligators in the Arctic and How To Avoid Them, Peter Dorman shows how flawed academic models, faulty assumptions and unrealistic schemes grossly underestimate what’s needed to stop catastrophic warming. He argues for a straightforward carbon emission budget – plus the active citizenship required to fight big businesses that want to keep doing business as usual. Lynn Parramore explores his findings and talks to the economist about the path forward.
All aboard! We’re hopping a time capsule to travel 56 million years back in Earth’s history. You are entering the time when dinosaurs have gone and curly-tailed early primates share the world with humongous flightless birds. The air is sultry, the landscape lush with feathery ferns and swaying palms. Alligators bask on rocks in the sun. It’s getting pretty steamy; you’re wishing you’d packed a swimsuit.
Surprise! You’re in the Arctic Circle.
I was passed a link to the paper “Exchange Rate and Inflation under Weak Monetary Policy: Turkey Verifes Theory” by Gürkaynak, Refet S. and Kısacıkoğlu, Burçin and Lee, Sang Seok.
Those of us who find it strange that a country should be deeply shocked by the death of a ninety-six-year-old woman must remind ourselves that it is a crime in England to let your thoughts dwell on the death of the monarch. The Treason Act of 1351, still in force, makes clear that this most […]
The post The Two Elizabeths appeared first on The New York Review of Books.
The pandemic spurred firms to stockpile inputs in an attempt to avoid the risks of just-in-time delivery. Yet inventory mismatches remain widespread. Why?
RALPH NADER RADIO HOUR EP 465 TRANSCRIPT, September 17, 2022. Tom Morello: I’m Tom Morello and you’re listening to the Ralph Nader Radio Hour. Steve Skrovan: Welcome to the Ralph Nader Radio Hour. My name is Steve Skrovan, along with my co-host, David Feldman. Hello, David. David Feldman: Hello, Steve. Steve Skrovan: And of course, it’s Continue Reading
The post On the Federal Reserve with Ralph Nader first appeared on Michael Hudson.
Here’s my latest piece for The Los Angeles Times:
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