Coronavirus dashboard: the first year of COVID endemicity  – by New Deal democrat As I indicated back in January, I don’t plan on any regular COVID dashboard updates unless something noteworthy has occurred. Since we are now 1 year into endemicity, this is a good time to look back and see what that means. The huge initial Omicron spike started in late November 2021 and ended early in March 2022. Since March 1 of 2022, here is the range of...

Is this a surprise to anyone? I bought. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.mmteconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

‘New Keynesian’ price stickiness ‘New Keynesian’ macroeconomists have for years been arguing (e.g. here) about the importance of the New Classical Counter Revolution in economics. ‘Helping’ to change the way macroeconomics is done today — with rational expectations, Euler equations, intertemporal optimization, and microfoundations — their main critique of New Classical macroeconomics is that it didn’t incorporate price stickiness into the Real Business...

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Open Thread March 3, 2023, Angry Bear, angrybearblog.com Tags: open thread

This is the story of a bank that put all its eggs into an emerging digital basket, believing that providing non-interest-bearing deposit and payment services to crypto exchanges and platforms would be a nice little earner, while completely failing to understand the extraordinary risks involved with such a venture. On 1st March, Silvergate Capital Corporation announced that filing of its audited full-year accounts would be significantly delayed, and warned that its financial position had...

I saw a comment about the drop in the U.S. Federal debt-to-GDP ratio, which reminded me that I wanted to discuss it once the data started to settle down. As can be seen in the above chart, the public debt-to-GDP ratio went from 135% in 2020Q2 to 120% in 2022Q3 (latest figure on FRED). A drop of (roughly) 15% in the ratio without some kind of “austerity” policies might seem surprising — but it is only surprising if you look at debt dynamics the wrong way. That wrong way is relying on “real”...

On 28 February 2023, the Danielle Smith government tabled Alberta’s 2023-2024 budget. Projecting a $2.4 billion surplus for the coming fiscal year, the budget announced some spending increases; but many are effectively cuts when one accounts for both inflation and population growth. Here are 10 things to know: The budget itself contains projections pertaining to inflation and population change. In the upcoming fiscal year, the budget projects 3.3% inflation (using...

Στο πλαίσιο της σειράς σεμιναρίων του Εργαστηρίου Κοινωνικής Πολιτικής (Ε.Κοι.Π.) για το ακαδημαϊκό έτος 2022-23  την Τρίτη 28/2/2023 στις 18.00 δόθηκε διάλεξη του Καθηγητή Στ. Μαυρουδέα με τίτλο: Είναι ο Νεοφιλελευθερισμός το κυρίαρχο οικονομικό παράδειγμα σήμερα; Στην διάλεξη αυτή επιχειρηματολογήθηκε ότι ο Νεοφιλελευθερισμός έχει εκπέσει από κυρίαρχο οικονομικό παράδειγμα από τις αρχές του 21ου αιώνα. Την θέση του έχει καταλάβει ο Νέος Κεϋνσιανισμός με τη Νέα Μακροοικονομική...