Reading
Total household debt balances continued their upward climb in the third quarter of 2022 with an increase of $351 billion, the largest nominal quarterly increase since 2007. This rise was driven by a $282 billion increase in mortgage balances, according to the latest Quarterly Report on Household Debt & Credit from the New York Fed’s Center for Microeconomic Data. Mortgages, historically the largest form of household debt, now comprise 71 percent of outstanding household debt balances, up from 69 percent in the fourth quarter of 2019. An increase in credit card balances was also a boost to the total debt balances, with credit card balances up $38 billion from the previous quarter. On a year-over-year basis, this marked a 15 percent increase, the largest in more than twenty years.
NUMBER ONE IS WALKING is an illustrated memoir of Steve Martin's legendary acting career with stories from his most popular films with artwork by New Yorker cartoonist Harry Bliss. The book is filled with anecdotes from film sets, exploits with co-stars, moments of inspiration, and other stories. Also: stand-up, banjos, writing, and cartooning.
Available now. Order today!
This is what I think of as a signpost article – it points you to something the mainstream media is deliberately not giving the prominence it needs, but I have no personal expertise or inside knowledge to give you. I am just giving you a start to get going. Several readers will have a much […]
The post FTX appeared first on Craig Murray.
Policymakers and market participants are closely watching liquidity conditions in the U.S. Treasury securities market. Such conditions matter because liquidity is crucial to the many important uses of Treasury securities in financial markets. But just how liquid has the market been and how unusual is the liquidity given the higher-than-usual volatility? In this post, we assess the recent evolution of Treasury market liquidity and its relationship with price volatility and find that while the market has been less liquid in 2022, it has not been unusually illiquid after accounting for the high level of volatility.
The 2021 Census provides place of work estimates for small areas across Australia. This data can be highly useful in understanding the structure and change of key employment precincts in your LGA. Every 5...Iran’s protesters will neither submit to the fascism hidden behind the regime’s pseudo-anti-imperialism nor surrender their country to the hegemony of the United States or their economy to financialized capital. The Western left should learn from them. ATHENS – Dealing with random, unprovoked abuse is never easy. But dealing with random, unprovoked praise can be […]
The post The New Iranian Revolution as an opportunity for the Internationalist Left – Project Syndicate appeared first on Yanis Varoufakis.
Today’s blog post highlights St. Louis Fed research addressing inflation, financial markets, credit markups, COVID-19 disparities and real estate wealth distribution.
Absentee ballots plunged from a total of 1.28 million in November 2020 to a little over 240,000 in last week’s General Election in Georgia. Given that mail-in ballots in Georgia favor Democrats two-to-one, it is reasonable to conclude this breathtaking 81% drop of over one million mail-in votes likely cost Sen. Raphael Warnock an outright victory. Georgia law requires... READ MORE
Lockdown policies were never planned but created real human costs that will linger for years. We are seeing them now in 2022.
For two days in late October, I attended Clay Clarke’s MAGA-driven ReAwaken America Tour near...
One of the grand traditions of the Past & Present Reading Group is “the pitch.” As we near the end of our current text, those who have engaged with it are given the opportunity to nominate the next book that the group will tackle. At risk of doing an injustice to any selfless members of the group, I would suggest that most pitches combine two motives of the pitcher: on the one hand, a genuine feeling that a collective reading of the suggested text will pay dividends to all members; on the other, a more prosaic, self-interested desire to recommend a book that is important to their own work and which they want to read anyway. Such was definitely the case when I pitched Alex Callinicos’ Making History: Agency, Structure, and Change in Social Theory.
The post Alex Callinicos, Making History: Agency, Structure and Change in Social Theory appeared first on Progress in Political Economy (PPE).
Proposed reforms to Australia’s industrial relations laws are likely to support higher coverage for collective bargaining in the national labour market, and provide a boost to stagnant wage growth according to new research from the Centre for Future Work. The report reviews historical data on the erosion of collective bargaining in Australia, and its close
The post Restoring Collective Bargaining Coverage Would Boost Wage Growth: Research Report appeared first on The Australia Institute.
Good Monday, Jazz Pickles. I usually write & post these blog entries on
Sunday but Olive Oyl and I were traveling yesterday. We’ve snuck back into
the U.S. to visit family and they are not very amenable to…
Hi everyone! I’ll be at DesignerCon in Anaheim this weekend, all three days Nov 18-20 at booth 725. I’ll have books and merch–come say hi!
Livestock farming is responsible for more greenhouse gas pollution than all the world’s transport. Yet governments won’t touch it. By George Monbiot, published in the Guardian November 9th 2022 There are just two actions needed to prevent catastrophic climate breakdown: leave fossil fuels in the ground and stop farming animals. But, thanks to the power […]
As always, if you find value in this work I do, please consider helping me keep it sustainable by joining my weekly newsletter, Sparky’s List! You can get it in your inbox or read it on Patreon, the content is the same.
To assess the vulnerability of the U.S. financial system, it is important to monitor leverage and funding risks—both individually and in tandem. In this post, we provide an update of four analytical models aimed at capturing different aspects of banking system vulnerability with data through 2022:Q2, assessing how these vulnerabilities have changed since last year. The four models were introduced in a Liberty Street Economics post in 2018 and have been updated annually since then.
In the CSBS 2022 National Survey of Community Banks, the economy and cybersecurity were ranked as top risks for community bankers.
Australia’s climate action again ranks in the bottom 10 of countries assessed in the Climate Change Performance Index (CCPI) 2023. The CCPI is an annual analysis of climate performance by countries covering 92% of global emissions, conducted by international think tank Germanwatch, NewClimate Institute and CAN International. Key Points: Australia’s overall ranking moved up four
The post Australia Remains in Bottom 10 on Global Climate List, Despite Improvements appeared first on The Australia Institute.