Dreams of high office can come true… however daft
Continue reading...Why did used cars lead to inflation in the US but not Australia? How important are housing rents to inflation? Answering these questions means unpicking inflation measurement.
The currency of international trade has been on a lot of peoples' minds in the last few years. The hierarchy of currencies literature, the related questions of reforming the international monetary and financial system (IMFS), the effects of US monetary policy on the rest of the world (ROW). Add to that the war in Ukraine and Chinese trade-related discussion on the role of the ruble, dollar, yuan, oil and natural gas, wheat etc.
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| A small nuclear explosion: only 23 kilotons. [A] |
The BBC have released the trailer for The Power Of The Doctor - Jodie Whittaker's final outing as the Thirteenth Doctor!
In the trailer we see The Master, Daleks, Cybermen, and appearances from previous companions Ace & Tegan.
The Power Of The Doctor airs on Sunday 23rd October at 7:30pm.
[Source: BBC]
Employment growth remains strong as rate hikes continue to contribute to a now rising federal deficit that is supporting growth, contrary to Fed expectations. This leads to more hikes intended to soften growth and inflation that in fact support growth and inflation: The Saudis are on the warpath after a falling out with President Biden, […]
The post Employment, GDP Nowcast, oil prices, equity comment appeared first on Mosler Economics / Modern Monetary Theory.
Organizing a Key Battleground State with New Georgia Project Action Fund
I recently had the pleasure of sitting down (virtually) with Nsé Ufot, CEO of the New Georgia Project Action Fund.
Nsé is an incredible organizer who describes her nonprofit as a “tech startup inside a civil rights and voting rights organization” that is making strides to build collective power for working people in Georgia.
There’s a lot of concern that the Federal Reserve is going to keep raising interest rates until it forces something to “break.” I share that concern. If you follow financial markets, then you’ve undoubtedly heard people like Scott Minerd say that he thinks the Fed will continue with rate increases until “something breaks.” He’s been arguing for some time that the Fed is steering us into a crisis by relying on backward-looking price (and other) signals for guidance about the underlying strength of the US economy. He’s
The BBC’s promotion of dark-money lobby groups no longer looks like an accident. It looks like a policy. By George Monbiot, published in the Guardian 5th October 2022 Some of it is easy to understand. Liz Truss, a hollow vessel filled with secondhand ideas by the dark-money thinktanks, believed their assurances that the magic of […]
Earlier this year, I participated in the launch event for a new program of study in the Economics of Sustainability at Torrens University. The program offers students the opportunity to earn a Graduate Certificate, a Graduate Diploma or a Master’s Degree
I’m doing a kickstarter to reprint the Too Much Coffee Man 1-9 comics in a single small book. I’m annotating the books with short introductions explaining some of the jokes, references, and themes.
Taxation data shows which occupations will get the biggest cuts - and how few people work in them
The post Members of Parliament among those who benefit the most from the Stage 3 cuts appeared first on The Australia Institute.
Cross-posted from Pepe Escobar’s The Cradle. It is impossible to track the geoeconomic turbulence inherent to the “birth pangs” of the multipolar world without the insights of Professor Michael Hudson at the University of Missouri, and author of the already seminal The Destiny of Civilization. In his latest essay, Professor Hudson digs deeper into Germany’s Continue Reading
The post Escaping the Western Rentier first appeared on Michael Hudson.On August 9, President Biden signed the bipartisan CHIPS and Science Act of 2022 into law. Today, the president is in my home state, touting the legislation at the IBM facility in Poughkeepsie, New York. The bill provides $52.7 billion for American semiconductor research, development, manufacturing, and workforce development. The White House
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.)
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.