Debt Crisis: Japan's Warning for Us!

Climate change isn't just a minor inconvenience. It's more like a ticking time bomb. The idea that a 1.4% GDP drop is the worst we face is laughable. Imagine predicting a storm and only preparing for a drizzle. The reality is that climate change will wreak havoc on economies. It's not just about rising temperatures. We're talking about food shortages, energy crises, and social unrest. Countries will hoard resources like kids hoarding candy on Halloween. Those with enough food...

A mistaken theory claims prices convey information about relative scarcities. Friedrich Hayek uses an example of tin. According to this theory, a higher wage incentivizes investments in less labor-intensive techniques and to shifting production towards less labor-intensive commodities. Likewise, a lower interest rate incentivizes investments toward more capital-intensive techniques and to shifting production towards more capital-intensive commodities. A number of attempts have been made...

Here’s the Penn Wharton Budget Model breakdown for how much each candidate’s economic proposals will affect the national debt:“We estimate that the Trump Campaign tax and spending proposals would increase primary deficits by $5.8 trillion over the next 10 years on a conventional basis and by $4.1 trillion on a dynamic basis that includes economic feedback effects. Households across all income groups benefit on a conventional basis.”“We estimate that...

QUARTZ The ‘Lock-in Effect’ is Easing. Here is What It means for the Housing Market Homeowners are beginning to give up on waiting for lower mortgage rates. That could be good news for potential homebuyers. In the first quarter of this year, six of every seven homeowners, or 86%, have a mortgage rate below 6%, according to a Redfin analysis of the Federal Housing Finance Agency’s National Mortgage Database published Tuesday. That’s down from a...

Why people stay after local economies collapse − a story of home among the ghosts of shuttered steel mills by Tracy Walsh The Conversation It was midday on a Saturday, and Simonetta led me from the open front door of her home in southeast Chicago to her sitting room and settled next to her husband, Christopher, on the couch. In the 1980s, Christopher had worked a few blocks away at U.S. Steel South Works, earning three times the minimum...

Joyce Vance at Civil Discourse on Jack Smith’s New Approach. Since trump now has certain immunities due to being a former pres, pres, president as declared by SCOTUS. Took a bit to call trump a president. Jack Smith takes a different approach in indicting trump as citizen trump. He carefully avoids reference to the office of president. This is going to be interesting as this new indictment will be appealed. In a Tuesday afternoon surprise,...

Publications Better engagement for better outcomes Taking a rapid test and learn approach to engagement with people out of work due to disabilities and poor health By Tom Pollard 28 August 2024 Download the report...

Engineers, Finance, and IT Pros: Learn 50+ years of Real Economics in only 7 Weeks. Weekly with me. Learn more: apply.stevekeenfree.com OR Join ~10,000 others in downloading my free 'Funny Money' Bundle (2 books, worth $60): new.stevekeenfree.com -- Who is Dr. Steve Keen? Dr. Steve Keen is an influential economist who has dedicated over 50 years to challenging mainstream economic theories. Since his days as a university student, he has been engaged in a David vs. Goliath battle against...

I don’t pay attention to daily swings. I look ahead and strategize accordingly.