Weekend reading on monetarism and its woes. Lots of data.Strange MattersDo Interest Rate Hikes Worsen Inflation?Tim Di Muzio is an Associate Professor in International Relations and Political Economy at the University of Wollongong, Australia.Economics from the Top DownDo High Interest Rates Reduce Inflation? A Test of Monetary FaithBlair Fix

Great tune, excellent musicianship, fabulous recording Mobile Fidelity Sound Labs Krieg did a great job on this one!

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I cannot write as much about these economists as they deserve. INET obituary for Victoria Chick. Her book, Macroeconomics after Keynes has a pun as its title. She is writing about macroeconomics that temporally follows Keynes and macroeconomics that builds on Keynes. The two do not need to be the same. Her book is good on the different time scales in the General Theory. Taking the short run to be when fixed capital ('plant') is given is different than defining the long run by given...

More Economic and Government topics the time. Much of it due to the pandemic caused economic issue. It is interesting as to how the news varies from week to week and what becomes important. I did add reports on Ukraine’s economy for 2022. You will see percentages from ~31% to ~38% cited depending on who you read. The Housing economy in in Arizona has come to a near standstill. At an AZ State House Committee meeting, the representatives were...

Another take on wages and salaries outpacing inflation. Not so says Robert Shapiro. Inflation Reality Check: Don’t Blame Wages and Salaries for High Prices, Washington Monthly, Robert J. Shapiro Yes, economics can be complicated, and economic reporters work under tight deadlines. There is no excuse for the media meme blaming rising wages for much of today’s inflation. The Wall Street Journal summed up this erroneous view in a recent headline,...

Updating some important coincident indicators  – by New Deal democrat We returned to no more significant monthly data today. So here are some important coincident indicators I’ve been particularly following. Redbook consumer purchases only increased 4.3% YoY last week, the lowest number in almost 2 years. The 4 week average also declined to 4.7%, also a 2 year low: This strongly suggests that the January retail sales report, which will be...

Next weekend, I will be doing this wilderness survival training course in Granite Falls, WA. These are skills I want to learn. Still some space available if you want to join me.After I do this, I would like to organize a Mike Norman Economics, MMT, outing of the same kind of physical, mental and emotional test. Who would be up for it?

.[embedded content] If thou hast shown mercy unto man, o man, that same mercy shall be shown thee there; and if on an orphan thou hast shown compassion, that same shall there deliver thee from want. If in this life the naked thou hast clothed, the same shall give thee shelter there, and sing the psalm: Alleluia.