Tag Archives: inflation

 By Thomas Palley(1) The origins of the Ukraine conflict lie in the ambitions of US Neocons. Those ambitions threatened Russian national security by fuelling eastward expansion of NATO and anti-Russian regime change in the Republics of the former Soviet Union.(2) The Ukraine conflict is now a proxy war. The US is using Ukraine to attack and weaken Russia.(3) Russia will eventually prevail. We may already be approaching “game over” because Ukraine’s forces have been eviscerated. Ukraine is...

 Q&A Session The lecture here. Note that it missed a few minutes at the beginning and the slides are not showing, with Professor Stiglitz at the upper right corner. It is still pretty engaging and wroth reading. There is a link to the slides that are not showing up. The actual lecture will be published in the first issue of ROKE in 2024. [embedded content]I'll post link to the published version when it's done.

This is a long one and a C&P. Other than putting it up at Angry Bear, I can not take credit for this one. What I can say is . . . they are not the first ones to accuse Supply Chain for much of the inflationary issues we have had as a nation. In 2008, automotive cut production and did not maintain orders with the supply base. When it started back up, we were chasing semiconductors, etc. Lead-times doubled. We have just gone through similar....

Measured by actual rather than fictitious prices, inflation is decelerating substantially towards the Fed target ADDENDUM: the huge impact of shelter  – by New Deal democrat For the last year, consumer prices have mainly been about two things: (1) the huge rise, and then fall, in gas prices; and (2) the phantom menace of owner’s equivalent rent (OER) dragging shelter prices higher, even as actual house prices peaked, and new rental...

Working paper on the Post Keynesian Economics Society website. From the abstract: The current debate on the causes of inflation is dominated by a particular view of what caused the inflationary acceleration in the 1970s, the so-called Great Inflation. In this view inflation is always and everywhere a demand phenomenon and requires contractionary monetary policy to be kept under control. The alternative view put forward by many heterodox authors emphasize what might be termed the...

How “FHFA-CPI” using house prices rather than OER shows a sharp deceleration in inflation  – by New Deal democrat Paul Krugman made another foray into the “inflation is mostly gone” genre over the weekend with a thread on Mastodon that largely relied on the following graph: concluding that “[A]t this point the burden of proof lies on anyone claiming that we had more than a, well, transitory inflation spike that’s mostly behind us.” I’m...

Seems that gas, fuel, gasoline is being used as a marker to understand just how horrible we have it as a result of the current inflation. It’s just sooooooooooo terrible. I’ll just say this. As a marker of inflation and our personal economic experience all it shows is how terrible we are at remembering. Unfortunately for us, such a bad memory leads us to terrible voting decisions. Though, it does allow for easy emotional manipulation of the citizenry...

USDA has now dropped the World Agricultural Supply and Demand Estimates in the much awaited October reporting. In a simple one liner, here is the gist of it – lower soy and corn yields this year (drought and lack of fertilizer – we saw this one coming), but wheat supply down, but higher than last year. Wheat is essentially a weed and has conditional consideration mostly to weather and also if the crop was planted, looks like we’re ok here. Here...

The point of this post is that I see an odd consensus about the conclusion based on opposite assumptions. The conclusion is the standard conclusion that US inflation is currently definitely too high and that it is necessary to reduce it even at the risk of a recession. First the US public considers current US inflation to be a very bad problem. It is easy to see why. Normal people use “inflation” to mean price inflation and assume given...

Six billion. I have written and rewritten the first line of this over and over and over again. Six billion. That is the amount of current US dollars American farmers have to come up with this year as fertilizer prices hit highs not seen since 2008, on top of higher prices last year. The difference is that in 2008 we had a financial meltdown, a run on energy markets, and global calamity. This year, we have supply crunches due to war, restrictions,...