If you cast your mind back to 2016 and after in Britain, there were a series of shock horror predictions being made about the impact on the nation of leaving the European Union. The scaremongering didn’t dissaude the voters and the Referendum was determined in favour of leaving. It seems I lost some friends as…
UK economy
I am covering a few topics today, given that I used yesterday’s post space to analyse the national accounts release. There is a further point I wish to make about the latest national accounts data. A focus on real household disposable income shows the full extent of the impacts of monetary policy (rate hikes) and…
Last Wednesday (November 22, 2023), the Tory government in Britain released their fiscal update known as the – Autumn Statement 2023 – which basically sets the course of fiscal policy in the UK for the period ahead. The Tories continue their appalling record. But they have also locked Labor into an austerity mindset. Meanwhile, neither…
‘Growth is one of the stupidest purposes ever invented by any culture. We’ve got to have an ‘enough’. Always ask growth of what, and why, and for whom, and who …
The post Humanity sits at a crossroads as politicians re-sell the politics of public austerity appeared first on The Gower Initiative for Modern Money Studies.
The British Labour Party officials and politicians have all been cock-a-hoop over the last week in Liverpool as they participate in their Annual Conference with the latest modelling suggesting they may win a “landslide 190-seat majority” at the next national election leaving the miserable and incompetent Tories with only 149 seats (currently 352) (Source). The…
In May 2023, when the British Office of National Statistics (ONS) released the March-quarter national accounts data (first estimate), which showed that real GDP grew by only 0.1 per cent in the first quarter and a rate equal to the December-quarter 2022, the critics were out in force. Brexit this. Brexit that. Graphs were created…
Yesterday, the – Flash Germany PMI – was released, which shows that “German business activity” has fallen “at fastest rate since May 2020”. Also released was the – Flash Eurozone PMI – which revealed that “Eurozone business activity contracted at an accelerating pace in August as the region’s downturn spread further from manufacturing to services”,…
“Never forget that the economy is a wholly owned subsidiary of nature”. Global Boiling – Kate Mackenzie and Tim Sahay Many of us have grown up with the story of …
The post Economic delusions cannot save us from the climate crisis and societal decay appeared first on The Gower Initiative for Modern Money Studies.
Recently, I wrote about the conditions that dictate what impacts interest rate changes will have on aggregate spending and demand-driven inflation in direction, magnitude and temporality – see RBA governor’s ‘Qu’ils mangent de la brioche’ moments of disdain (June 8, 2023). It is highly likely in many cases, the decisions by central banks to increase…
Today (June 28, 2023), the Australian Bureau of Statistics released the latest – Monthly Consumer Price Indicator – which covers the period to May 2023. On an annual basis, the monthly All Items CPI rate of increase was 5.6 per cent down from 6.8 per cent. There is some stickiness in some of the components…