We are now entering phase 2 of the New Keynesian policy folly. Phase 1 – was the rising interest rates to fight an inflation that was not interest-rate sensitive. Phase 2 – run policy so […]
So there is no hint of a return to the position that other central banks have taken. The Bank of Japan is firmly committed to providing ‘expansionary’ conditions to encourage growth in wages, which they […]
The inflation is burning out pretty quickly. I consider my assessment that this was always going to be a transitory period of inflation has been validated by the data. I also think we have reach […]
Massive government size does not necessarily mean massive fiscal deficits. Read HERE
To finance energy transition we need to move from a system that allocates resources in favour of private profit, to a more societal-based system. Read HERE WikiRigaou/Creative Commons
The point is that many unions have become part of the elite structures that suppress workers and advance the interests of capital In the 1890s, the worker organisations would be out of strike right now […]
The climate emergency is of another scale again though. And penny pinching now will cause immeasurable damage to humanity. Food security will be threatened. Urban environments will become unliveable. Pandemics will increase if we don’t […]
There is something deeply wrong with the world under Capitalism when the poorest countries in the world pay more out on debt servicing to loans that the wealthy countries have provided than they do on […]
Why have central bankers in continued to hike interest rates, especially when the most direct measure of the situation – the actual inflation rate – has been abating for months in most jurisdictions? Read HERE
I repeat my position on dealing with the current inflation: 1. Hold interest rates constant (as in Japan). 2. Do not expand fiscal policy significantly. 3. Provide fiscal support to the low-income families. 4. Watch […]
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