Monetary
The Ireland growth miracle is largely illusory and biasing Eurozone growth data upwards – William Mitchell – Modern Monetary Theory – Beragampengetahuan
I have been avoiding keeping up-to-date with the Irish national accounts over the last several years for reasons that I documented in this blog post – Ireland – not as rosy as the official story might suggest (January 2, 2018). Ireland has been held out as the poster nation for the Eurozone boosters because of […]
Australian labour market – emerging signs that tight fiscal and monetary policy is killing prosperity – Beragampengetahuan
It’s been a big data week and after the US inflation data that I analysed on Monday, and the Australian wage data (analysed yesterday), we have the Australian labour force data release by the Australian Bureau of Statistics – Labour Force, Australia – for July 2023 today (August 17, 2023). The July result shows a […]
US labour market – ‘steady as she goes’ – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Last Friday (August 4, 2023), the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – July 2023 – indicated a rather ‘steady as she goes’ outcome. A slightly weaker employment outlook compared to the beginning of 2023 but overall a very stable situation. There is no sign […]
Australia’s inflation rate continues to fall despite RBA inflationary rate hikes – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Today (July 26, 2023), the Australian Bureau of Statistics released the latest – Consumer Price Index, Australia – for the June-quarter 2023. It showed that the CPI rose 0.8 per cent in the quarter (down 0.6 points) and over the 12 months by 6.1 per cent (down 0.9 points). The annual inflation rate in Australia […]
In Search of a Monetary Standard: A Review of Robert Hetzel’s The Federal Reserve: A New History – Beragampengetahuan
Few books about the history of the Federal Reserve contain the number of insights found in Robert Hetzel’s The Federal Reserve: A New History. Hetzel does not merely recount historical events related to America’s central bank, as so many other books have done. Instead, he draws on his considerable knowledge of economic theory and intellectual […]
pension systems about to collapse. Not! More mainstream fiction – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Sometimes, one thinks that the intellectual world should evolve as intelligent people take account of the dissonance between their ideas and the facts before them and adapt their views. I know that doesn’t happen much but it should. I have studied the philosophy of science deeply enough over my student and postgrad days and beyond […]
RBA governor’s ‘Qu’ils mangent de la brioche’ moments of disdain – William Mitchell – Modern Monetary Theory – Beragampengetahuan
The RBA governor had a few ‘Qu’ils mangent de la brioche’ moments in the last week when he responded to criticisms that his manic interest rate increasing behaviour is driving low-income families into crisis by, first, saying that people who couldn’t find cheap housing should move back with their parents. Then he followed that with […]
The so-called Inclusion Committee that recommends keeping the unemployed impoverished – William Mitchell – Modern Monetary Theory – Beragampengetahuan
It’s Wednesday and apart from music I am talking mostly about poverty – opposites indeed. The beauty of the beat against the ugliness of enforced poverty. Enforced by government policy, which if there is political will can always eliminate systemic poverty. Yesterday (April 18, 2023), a major report was released in Australia by the grand-titled […]
Inflation has probably peaked in Australia – yes, it was a transient episode – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Given yesterday’s extensive National Accounts analysis replaced my usual Wednesday blog post, I am using today to discuss a range of issues and provide a musical interlude into your lives for peace. Yesterday’s bad National Accounts data release took the headlines away from another data release from the ABS yesterday – the monthly CPI data […]
Degrowth, food loss and food waste – Part 7 – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Last Monday, I wrote about the global need for us to abandon meat production for food, and, instead take up plant-based diets. Many people interpreted that argument as a personal attack on their dietary freedom, which indicates they fell into a fallacy of composition trap and declined to see the global issue. As part of […]