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Rinse and repeat–Truss chaos–the new benchmark — Bill Mitchell

For years, those who want selective access to government spending benefits (like the military-industrial complex and other parasitic sectors), while claiming the government cannot afford to provide adequate income support to the most disadvantaged citizens have used various ruses to give an air of authority or legitimacy to their claims. So in the UK, the lie in 1976 by the then Labour government that it was going to have to borrow from the IMF to stay solvent has been regularly wheeled out....

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It’s Applied MMT People!

Douglas from Applied MMT is back for part 3. Douglas’ Research and Analysis is built upon an MMT and Modern Banking framework. If you are an active investor or trader you’ll find the research and analysis provided invaluable as you navigate the markets. Check out his Patreon: https://www.patreon.com/mmtmacrotrader

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The man who never wavered — Alan Bates

The man who never wavered — Alan Bates In science, courage is to follow the motto of enlightenment and Kant’s dictum — Sapere Aude!  To use your understanding, dare to think for yourself and question ‘received opinion,’ authority or orthodoxy. In our daily lives, courage is the capability to confront fear, as when in front of the powerful and mighty, not to step back, but stand up for one’s right not to be humiliated or abused. As when Alan Bates decided to...

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You can’t fool Mother Nature

Back when we lived in Chapel Hill NC, we made a few trips to the Outer Banks where my wife had an uncle who built fishing boats in Buxton NC. Back then, nobody was talking about sea levels rising because of global warming and yet it was obvious back then (early 1980s) that these sandy beaches were ephemeral and the buildings that overlooked them were at risk. The iconic Hatteras Lighthouse had to be moved away from the encroaching ocean back in...

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Grades and learning

by David Zetland The one-handed economist Schools tend to go to one extreme or another when it comes to grades: they are either confidential or posted openly. The reasons for confidential tend to involve self esteem, privacy, peer pressure and bullying. The idea is that students will be mean to each other if they know the grades of others. This idea is a bit flawed — students can be mean in many ways, grades are feedback on work rather...

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Correcting 11 Washington Post’s Charts That Are Supposed to Tell How the Economy Changed Since Covid

by Dean Baker CEPR Not much of a surprise here the 11 Washington Post’s Charts need some explaining to correct the misinterpretation of them by WaPo. The issue here is the amount of bad or false information floating around in the news media today. People tend to believe what they initially read and go no further. When people like Prof. Dean come along and correct the inaccuracies it can be misinterpreted as political. People want to believe...

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NBC fires Ronna McDaniel, former RNC chair.

Gee, whata surprise. Did this even make sense in the beginning? NBC empties the trash can before it starts to smell. Robert Reich: Ronna McDaniel’s tenure at NBC lasted four days. It ended last night, after network anchors and reporters blasted NBC’s decision to hire her last Friday. They argued that hiring her gave a green light for election deniers to spread lies as paid contributors. The New York Times said the episode underscored the...

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A detailed look at manufacturing, and an update on freight

 – by New Deal democrat As I wrote on Monday, the big question for this year is whether the recessionary effects of the Fed rate hikes have just been delayed. Or whether, because the rate hikes have stopped, so has the headwind they normally produce. Watching manufacturing and construction, especially housing construction, is what I expect to supply the answer. On Monday I focused on housing construction and sales. Since there’s no big economic...

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