The rate cut panacea just got more fuel. 

 – by New Deal democrat I figured this month I would report on new and existing home sales at the same time, since they have been reported only one day apart. I have been looking for a rebalancing of the market between the two, which means *relatively* more existing vs. new home sales, firming in new home vs. existing home prices, and more inventory growth in existing homes vs. new homes.  To cut to the chase, it looks like that rebalancing is...

Today (August 23, 2024), MMTed releases Episode 4 in the Second Season of our Manga series – The Smith Family and their Adventures with Money. Have a bit of fun with it while learning Modern Monetary Theory (MMT) and circulate it to those who you think will benefit …William Mitchell — Modern Monetary TheoryEpisode 4 of the Smith Family Manga (S2) is now availableBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of...

from Lars Syll At a first glance, DSGE models seem to imply total ignorance because representative agents (or representative groups of agents with limited heterogeneity) featuring objective utility functions populate the literature. At a second glance, however, it becomes obvious that “methodological individualism” prevails and even dominates. To understand this dominance one only has to once again note that the representative agent has fixed properties only within any given model, or...

Debt Crisis Hits Us Again!

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...

Podcasts New Economics Podcast: Lessons for the left after the far right riots Ayeisha Thomas-Smith is joined by Minnie Rahman and Abi O'Connor By Ayeisha Thomas-Smith 23 August 2024 A few weeks ago, far-right rioters gathered outside a hotel...

Neoclassical economics is a cult, not a science. It clings to outdated models that ignore reality. We need an economics grounded in realism, not fantasy. Imagine a pilot flying a plane. He relies on a map from decades ago. That map shows mountains that no longer exist. He’s flying blind, and the passengers are terrified. This is what neoclassical economics does. It uses models that don’t reflect the world we live in. It’s like trying to navigate a city with a...

Ravel is a whole new way to analyse data. No coding needed, no obscure cell reference formulas, and no need for pivot tables. Here I show how Ravel can effortlessly analyze the relationship between household debt acceleration and house price changes, in just ten minutes! Ravel will streamline and dramatically accelerate your data analysis. It works with any type of data, from marketing sales data to scientific. Get Ravel from https://www.patreon.com/ravelation for a budget-friendly $7...

In re-reading Robinson, I often find her succinctly summarizing a theory, often developed later. Here is a quotation from one of my favorite books by her: "The argument is sometimes advanced that evidence shows that, in reasonably prosperous countries, the percentage of unemployment is never seen to vary very much, averaging good times with bad, over the long run ... But even for prosperous countries the evidence is largely an optical illusion. Capitalist industry does not employ the...