It’s Wednesday and I discuss a number of topics today. First, the ‘million simulations’ that Bloomberg apparently think show that there is an impending US bond market rout. Second, the way in which neoliberal-inspired legislation ensures the private energy providers can gouge prices and make huge profits in the face of a state-owned alternative. Third, my latest podcast with Real Progressives. Fourth, the crocodile tears from the Australian government concerning Gaza when they are effective...

Not MMT per se but it has to do with economic modeling that is pertinent to MMT's stock-flow modeling. When looking at Steve Keens's claim about continuous and discrete yesterday, it seemed to me to be a bit off given that economic data is discrete despite the fact that it is reported in terms of flows that are assumed continuous. Brian explains the details of the modeling math clearly and briefly without getting overly wonkish. Bond EconomicsIn Defence Of Discrete Time ModelsBrian...

When I was in college, I took up pipe smoking. I particularly enjoyed Turkish Latakia tobacco, smoked through a long-stemmed church warden clay pipe. But shortly after I got married, my wife told me to stop.Smoking is a particularly dangerous nicotine delivery system. Nowadays, there is vaping, which some see as safer. It may well be, but “safer” isn’t the same as “safe.”“People who self-reported ever having used electronic cigarettes (e-cigarettes)...

Bailouts: Central Planners and Economy

from Dean Baker David Wallace-Wells had a column discussing the trip by Javier Milei, Argentina’s new president, to the World Economic Forum (WEF) in Davos, Switzerland. The WEF is an annual gathering of many of the world’s richest people, where they also invite politicians, academics, and others who they think may amuse them. According to Wallace-Wells, Mr. Milei definitely fits into that category. The piece talked about how Milei calls himself as an anarchist, with the government just...

Challenging Neoclassical Theory in Capitalism

Brief recital of the costs and efforts of hospitals getting reimbursed by commercial healthcare insurance. It appears to be worsening. And the efforts to collect are costly. A Survey of Healthcare Insurance Practices Survey Methodology – 304 respondents, representing 772 hospitals, completed the survey. Not every respondent answered each question. All respondents are members of the American Hospital Association.– Web-survey...

by Christina Clark Iconic Detroit writer and activist John Sinclair died on Tuesday morning at the age of 82 after spending two weeks at DMC Detroit Receiving Hospital for declining health. His cause of death was congestive heart failure, his publicist told the Detroit News.  An advocate for his art, Sinclair served as the manager for MC5, a rock band from Lincoln Park, between 1966 and 1969, and was well-known for his support of the Civil...

Like Gordon Gekko said, the most valuable commodity there is, is information.

 – by New Deal democrat The Bonddad Blog The JOLTS report for February showed stabilization or slight improvement to all but one of its components, generally suggesting, well, stabilization in the overall jobs market. Starting with the monthly changes, job openings (blue in the graph below), a soft statistic that is polluted by imaginary, permanent, and trolling listings, increased 8,000 from a sharply downwardly revised January number to...