Krugman backs the coin. Very short post.Daily Hodl US Treasury Can Print $1,000,000,000,000 Coin To Pay Bills, Avoid Debt Ceiling Crisis: Economist Paul KrugmanStaff

On this blog, I’ve stated that economics needs a ‘periodic table of prices’. There are many different prices beyond ‘market prices’: Cost prices, Administrated prices, Government prices, Factor prices and whatever. We need a grid which enables a classification. As I, clearly, do not seem to be your average inspiring charismatic direction setting economists, nobody followed up on my statements…. With this blog, I want to start my journey towards the framework, to boldly go from where...

Constraining talents with debt

The Biden administration and congressional Democrats have so far refused to negotiate with House Republicans over spending cuts to resolve the looming debt ceiling crisis.  This tactic has successfully pressured Republicans into passing a bill with unpopular spending cuts that Democrats will quite rightly use to their advantage in the upcoming election.  But now that the House Republicans have put a plan on the table it will be difficult for...

Les dangers du wokisme .[embedded content] Comme l’a soutenu Braunstein,  le wokisme est une véritable religion sectaire absurde. Il est évident qu’il est en train de construire un nouveau totalitarisme de la pensée quasi-religieuse. Et c’est certainement une attaque farouche contre la science et contre la vérité. Mais il est aussi un mouvement sociopolitique qui a gagné en popularité ces dernières années. Et comment est-il possible que le wokisme ait pu...

MAGA with the best technical explanation of the current banking system problems I’ve seen: I still don’t understand why these Art degree monetarist morons don’t want to increase the rate of their QT to reduce their figure of speech “inflation!”… ?

New Deal democrat has a post up. I hope you read it as it is some of the best commentary on the internet abut Labor, Employment, Unemployment, plus the basis for each. I read him each day as I post his dialogue. It is excellent. So as you are waiting for me to post a couple of more commentaries, you should read his commentary. I should be back by noon at the latest. Good night and see you all tomorrow. Bill...

The un(der)employment rate leads wage growth: 2023 update  – by New Deal democrat I had already planned on taking an updated look at wage growth today, but there was a little flutter on twitter about job openings and last week’s Q1 wage and benefits data, so that sealed the deal. To wit: as I used to write many times during the last expansion, wage growth is a long lagging indicator. It tends to increase only after unemployment (or even...

The Deadly Sin of Statistical Reification People sometimes speak as if random variables “behave” in a certain way, as if they have a life of their own. Thus “X is normally distributed”, “W follows a gamma”, “The underlying distribution behind y is binomial”, and so on. To behave is to act, to be caused, to react. Somehow, it is thought, these distributions are causes. This is the Deadly Sin of Reification, perhaps caused by the beauty of the mathematics...

  Το σχέδιο ΔΗΜΗΤΡΑ και οι οικονομικές  και πολιτικές αλχημείες του Γ.Βαρουφάκη Στ. Μαυρουδέας* & Θ.Χατζηραφαηλίδης** *καθηγητής Πολιτικής Οικονομίας, Τμήμα Κοινων. Πολιτικής, Πάντειο Πανεπιστήμιο ** υποψ. διδάκτορας, Τμήμα Οικονομικών, ΕΚΠΑ 1. Μηντιακοί «σωτήρες» σε καιρούς κρίσης Σε καιρούς κρίσης είναι συχνό το φαινόμενο εμφάνισης «σωτήρων» που υπόσχονται στις χειμαζόμενες λαϊκές μάζες την σωτηρία μέσω ευφάνταστων σχεδίων που θα μεταρρυθμίσουν το σύστημα και...