Special pleading from Japan’s fossil fuel financing megabanks reaches new heights
Bill Mitchell Blog
by bill
3d ago
In our new book – Modern Monetary Theory: Bill and Warren’s Excellent Adventure – which will be launched in the UK next Wednesday, we devote a chapter to what we refer to as the Japanese irony. This relates to the fact that while the conduct of policy in Japan is justified in mainstream terms, the ..read more
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Central bankers live in a parallel universe
Bill Mitchell Blog
by bill
5d ago
It’s Wednesday, which means a few (sometimes unrelated) items are discussed or analysed. Today, we see that real wages in 16 of the 35 OECD countries are still below the pre-pandemic levels, which tells us among other things that the inflationary pressures were not wage induced. Further, a speech yesterday by the Federal Reserve boss ..read more
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Modern Monetary Theory: Bill and Warren’s Excellent Adventure – Promo
Bill Mitchell Blog
by bill
1w ago
Here is a short video about our new book – Modern Monetary Theory: Bill and Warren’s Excellent Adventure – which will be published on July 15, 2024 ..read more
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Bank of Japan is making losses on its balance sheet – so what?
Bill Mitchell Blog
by bill
1w ago
Sometimes when I am reading some story or analysis about the economy I sense a sort of glazing over effect – I just read the words as they appear on the paper and it is not until after I have read the entirety that I sort of have to pinch myself and realise that this ..read more
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German debt brake is bad economics and undermines democracy
Bill Mitchell Blog
by bill
1w ago
It’s Wednesday and today I don’t comment on the US Supreme Court decision to embed criminal behaviour in the presidency (how much of a joke will the US become) or the Presidential debate, which has focused on the performance of Biden while, seemingly ignoring the serial lies told by the other contender. If these two ..read more
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I make a prediction about the relationship between US government debt and impending crisis
Bill Mitchell Blog
by bill
1w ago
Over time we observe a pattern of idiocy in the financial press, where different fictions, dressed up as allegedly shattering propensities, are regularly cycled through in succession, each one getting headlines for a day or so, only to be replaced by the next sensationalised issue. So-called experts or corporate bosses are wheeled out and make ..read more
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The European Union has been designed and run to maintain the corporate interests of the elites – no surprises there
Bill Mitchell Blog
by bill
2w ago
After the Far Right National Rally (RN) took the prizes in the recent European Parliament elections and seriously dented the electoral appeal of Emmanual Macron’s grouping, the French President decided to follow the British script and dissolved the French Parliament and called a snap election, the first round of which will take place on June ..read more
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Australia’s monthly inflation rate falls yet the media scream for more rate hikes
Bill Mitchell Blog
by bill
2w ago
Today (June 26, 2024), the Australian Bureau of Statistics (ABS) released the latest – Monthly Consumer Price Index Indicator – for May 2024, which showed that the annual inflation rate rose 4.1 per cent, which is higher than most predicted. And now the media are beating up the story that the RBA will have to ..read more
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RBA denial about profiteering demonstrated they are just part of the ideological machinery supporting neoliberalism
Bill Mitchell Blog
by bill
3w ago
In April 2023, the then governor of the Reserve Bank of Australia gave a speech to the National Press Club in Sydney – Monetary Policy, Demand and Supply = the day after the RBA decided to end (for a month) its rate hikes after hiking the previous 10 meetings of the RBA Board, the body ..read more
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British Labour Party once again tripping over their nonsensical fiscal rules
Bill Mitchell Blog
by bill
3w ago
Regular readers will know that I am not enamoured with the British Labour Party leadership and its obsession with its so-called fiscal rule, which is really just a continuation of the rule that the Tory’s were supposedly running with. How can a self-styled progressive party (so-called) that is about to take over a nation that ..read more
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