Reading
“They're basically saying the same thing over and over and over again. It's a pattern"
The post Climate Denier Says It’s Suspicious That Every Single Scientist Says EXACT Same Thing appeared first on The Shovel.
- by Aeon Video
- by Mette Leonard Høeg
- by David P Barash
One question for Christopher Timmermann, a cognitive neuroscientist at Imperial College London.
The post What Happens to My Brain on the Psychedelic DMT? appeared first on Nautilus.
It’s timely that Who Cares? has landed in our bookshops just as public hearings by the Robodebt Royal Commission wind up this month.
The post Lifting the lid on how ‘social security’ offers no security at all appeared first on Solidarity Online.
“I Rupert, take you, Ann Lesley, to be my lawful wedded wife, and seek to dissolve this marriage due to unreconcilable differences"
The post Rupert Murdoch, New Fiancée to Sign Dual Marriage/divorce Certificate to Save on Paperwork appeared first on The Shovel.
What is missing from the debates over monetary policy today is the understanding that the Fed was not established to control inflation. It was created to prevent financial crises by acting as a lender of last resort in times of distress. Indeed, that’s exactly what the Fed is doing now — opening up its lending facilities to banks in need. But rather than focus on maintaining financial stability, the Fed has become obsessed with controlling inflation, something it cannot really do without causing either a recession or a financial crisis (or both).
What the Fed needs to do is abandon misguided economic theories that have subverted its primary goal of financial stability to inflation targeting. Rather than change interest rates to control inflation it should pivot to a policy of stable interest rates with the goal of maintaining financial stability. The current experience is yet another stark example that unstable interest rates are inconsistent with financial stability. This approach is counterproductive and unnecessary since we have more effective tools for macroeconomic stabilization, such as fiscal policy..…