Inflation excluding volatile items is now falling back to around 2 per cent in Australia – despite the efforts of the RBA
Bill Mitchell Blog
by bill
23h ago
Today (March 27, 2024), the Australian Bureau of Statistics (ABS) released the latest – Monthly Consumer Price Index Indicator – for February 2024, which showed that the annual inflation rate steadied at 3.4 per cent. Today’s figures are the closest we have to what is actually going on at the moment and show many of ..read more
Visit website
Growing evidence that Covid has incapacitated a huge number of workers with little policy response forthcoming
Bill Mitchell Blog
by bill
3d ago
Regular readers will know I have been assessing the evolving data concerning the longer-run impacts of Covid on the labour force. As time passes and infections continue, our immediate awareness of the severity of the pandemic has dulled, largely because governments no longer publish regular data on infection rates, hospitalisations and deaths. So the day-to-day ..read more
Visit website
Australian labour market – unemployment drops sharply – good news
Bill Mitchell Blog
by bill
6d ago
Today (March 21, 2024), the Australian Bureau of Statistics released the latest – Labour Force, Australia – for February 2024, which shows that the weakening we observed over the holiday period has reversed and was probably due to variations in flow behaviour over the break that has become evident since the pandemic. As I noted ..read more
Visit website
Bank of Japan’s rate rise is not a sign of a radical policy shift
Bill Mitchell Blog
by bill
1w ago
Yesterday, the Bank of Japan increased its policy target rate for the first time in 17 odd years and it set the noise level among the commentariat off the charts – ‘finally, they have bowed to the pressure from the financial markets’, ‘major tightening’, ‘scraps radical policy’, etc – all the hysteria. The reality is ..read more
Visit website
Claims that mainstream economics is changing radically are far-fetched
Bill Mitchell Blog
by bill
1w ago
I have received several E-mails over the last few weeks that suggest that the economics discipline is finally changing course to redress the major flaws in the curricula that is taught around the world and that perhaps Modern Monetary Theory (MMT) can take some credit for some of that. There has been a tendency for ..read more
Visit website
Keynes was wrong because he failed to consider class conflict
Bill Mitchell Blog
by bill
1w ago
I was asked during an interview the other day from Paris whether I was a Post Keynesian. I replied not at all and explained that I have never felt that my ideas fit into that category although in a facile sense we are all post keynesian in a temporal sense. Most progressive economists would answer ..read more
Visit website
Latest US inflation data is no cause for alarm – the trend is down
Bill Mitchell Blog
by bill
2w ago
It’s Wednesday and I have looked at the US CPI release overnight that has set alarm bells off in the ‘financial markets’ and among mainstream economists. My assessment is that there is nothing much to see – annual inflation less volatile items is still falling and the lagged impact of shelter (housing) is still evident ..read more
Visit website
Not trusting our political class is no reason to avoid introducing progressive policies
Bill Mitchell Blog
by bill
2w ago
There is a consistent undercurrent against Modern Monetary Theory (MMT) that centres on whether we can trust governments. I watched the recent Netflix documentary over the weekend – American Conspiracy: The Octopus Murders – which reinforces the notion I have had for decades that there is a dark layer of elites – government, corporations, old ..read more
Visit website
Australia’s growth rate declines further and danger of recession increases on the back of the policy squeeze
Bill Mitchell Blog
by bill
3w ago
Today (March 6, 2024), the Australian Bureau of Statistics released the latest – Australian National Accounts: National Income, Expenditure and Product, December 2023 – which shows that the Australian economy grew by just 0.2 per cent in the December-quarter 2023 and by 1.5 per cent over the 12 months (down from 2.1 per cent). If ..read more
Visit website
British government designs fiscal policy within a flawed framework – result = poor policy
Bill Mitchell Blog
by bill
3w ago
This week, the UK Chancellor releases the latest fiscal statement (aka ‘the budget’) and will also have a eye to the general election which must be held before January 28, 2025. One would expect the government would stall the announcement and delay the election for as long as is possible, given the current situation and ..read more
Visit website

Follow Bill Mitchell Blog on FeedSpot

Continue with Google
Continue with Apple
OR