We start to see the absurdity of the current reliance on monetary policy as a counter-stabilisation tool, when you read the calls from the Bank of England Monetary Policy Committee member talking about the risk of a ‘significant inflation undershoot’. In a detailed analysis of the current situation, the external MPC member noted that inflation…
inflation
A Sydney man staring idly at the pricey wares on offer in an Eastern Suburbs artisanal bakery is currently wishing that he was wealthy enough to afford to eat like a subsistence farmer from the Renaissance. “You must have had... Read More ›
Solidarity and well done NEU teachers for standing firm as others w Teachers have resoundingly rejected the government’s insulting and almost entirely unfunded pay ‘offer’ and agreed further strikes for 24 April and 2 May. The government’s ‘deal’ represented a huge real-terms pay cut and would have placed an even greater burden on schools that […]
I regularly encounter mainstream economists who are confounded by the dissonance that the body of theory they have been working in introduces and then seem to think they have come up with new ideas that restores their credibility. The more extreme version of this tendency is called plagiarism in academic circles. But the less extreme…
Today (March 29, 2023), the Australian Bureau of Statistics (ABS) released the latest ‘monthly’ CPI data – Monthly Consumer Price Indicator – which covers the period to February 2023. On an annual basis, the monthly All Items CPI rate of increase was 6.8 per cent down from 7.4 per cent. While this signals a sharp…
Yet more signs of TUC/Labour pressure as NASUWT puts pathetic government pay offer to teachers Teachers have reacted with fury after their unions asked them to ‘consider’ an appallingly insulting pay offer from the government. The proposed ‘deal’ consists of a one-off, unfunded payment of £1000 for the current year and a derisory, far below […]
I have read an interesting reports in the last months that demonstrate there is a shift in thinking about inflation – away from the tired narratives that attempt to implicate excessive government spending, poorly contrived monetary policies (particularly quantitative easing) or drag in the usual suspect – excessive wage demands from workers. All of the…
In the latest IMF Finance and Development journal (March 2023), there is an interesting article by the former governor of the Bank of Japan, Masaaki Shirakawa – It’s time to rethink the foundation and framework of monetary policy. It goes to the heart of the complete confusion that is now being demonstrated by central bank…
‘Neither’ and ‘don’t know’ vote dwarfs score for either party leader – and no surprise there Both Keir Starmer and Rishi Sunak – two sides of the same dire, droning coin – were soundly beaten in the latest Opinium poll of voter assessment of who would make the best prime minister. The appalling Sunak managed […]