The – Washington Consensus – has been out in full force this week with the US Federal Reserve and the RBA increasing interest rates further despite all the indications that inflation peaked months ago and its downward trajectory has had little if anything to do with the ridiculous interest rate rises since early 2022. Both…
inflation
It’s Wednesday, and we have a few observations on recent events including a music feature. But the main issue in the last 24 hours is the decision by the Reserve Bank of Australia (RBA) to add an 11th interest rate increase at a time when inflation is falling significantly. As I noted last week, the…
Today (April 26, 2023), the Australian Bureau of Statistics released the latest – Consumer Price Index, Australia – for the March-quarter 2023. It showed that the CPI rose 1.4 per cent in the quarter (down 0.4 points) and over the 12 months by 7 per cent (down 0.8 points). The monthly data, also released today…
Anthony Yates looks at Rishi Sunak's promises over inflation which might help him cynically suppress public pay demands but do nothing to address the roots of our economic malaise
Remember all the hype from central bankers last year and earlier this year about how they had to get ‘ahead of the curve’ with their interest rate hikes just in case wage demands escalated and inflationary expectatinos became ‘unanchored’. Over the last 18 months, I consistently noted in various blog posts that this was all…
Last week (April 11, 2023), the IMF released their half-yearly update – World Economic Outlook: A Rocky Recovery, April 2023 – which excited the headlines in the media with predictions of gloom and calls for fiscal austerity and more interest rate hikes. The only good thing about these reports every six months is the accompanying…
The majority of us support debt relief, but lobbyist-backed lawsuits are holding back Americans from achieving a better life.
The post Student Debt Forgiveness Is a Win-Win for Our Country appeared first on scheerpost.com.
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…
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 […]