Monday , June 5 2023
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Mike Norman Economics

Debt ceiling poll

Polling not on Brandon's side... I assume most people blame Brandon stimmie and Brandon Russia sanctions for "inflation!"... so they probably think he should be the one to take the hit... people supporting  GOP on budget because they are weary of prices going up …. Brandon trying to blame “inflation!” on Monetarism is not working…  people aren’t buying it…Meanwhile Brandon no mention of rate policy moderation at all… might be ready to double down…Who should compromise most to reach a debt...

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William Mitchell — US labour market continues to tick over – no sign of a major slowdown yet

Last Friday (May 5, 2023), the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – April 2023 – which revealed continuing employment growth and and modest declines in unemployment. While the US Federal Reserve is deliberately trying to undermine the labour market, even though the inflation rate is falling relatively quickly, the April data suggests that the interest rate increases are not achieving the aim. There is no surprise there....

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The Hard Iron Financial Fist — Ben Norton interviews Michael Hudson

Video and transcript. Ben Norton interviews Michael Hudson for the Geopolitical Economy ReportMichael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismThe Hard Iron Financial FistMichael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University

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Google AI expert warns of massive uptick in productivity growth: No problems with Social Security — Dean Baker

No Luddites allowed.Is slated to replace rote workers.It is also worth noting that any concerns about the technology leading to more inequality are wrongheaded. If AI does lead to more inequality it will be due to how we have chosen to regulate AI, not AI itself.People gain from technology as a result of how we set rules on intellectual products, like granting patent and copyright monopolies and allowing non-disclosure agreements to be enforceable contracts. If we had a world without these...

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William Mitchell — Japan has lower inflation, no currency crisis and its citizens are better off as a result of the monetary-fiscal policy initiatives

The – Washington Consensus – has been out in full force this week with the US Federal Reserve and the RBA increasing interest rates further despite all the indications that inflation peaked months ago and its downward trajectory has had little if anything to do with the ridiculous interest rate rises since early 2022. Both banks, along with most other central banks, are just thumbing through the New Keynesian textbook to get their direction and pretending to be capable of assessing the...

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