First, the Euro is getting to be completely excluded in RussiaSecond, the use of national currencies through BRICS is moving ahead[Third], the Brazilian Central Bank and the People’s Bank of China signed a memorandum of understanding allowing bilateral trade IN YUAN for Brazilian and Chinese companies, investors, and institutionsGlobal SouthNational Currencies: it is happening!amarynth

News of Russian banks connecting to Iran’s financial messaging system strengthens the resistance against US-imposed sanctions on both countries and accelerates global de-dollarization.The CradleThe Big Stiff: Russia-Iran dump the dollar and bust US sanctionsPepe EscobarSee also“One factor that could well be keeping the gold price so supported is the strength of buying from central banks, including those in China, India and Turkey. As these fast-growing economies look to diversify away from...

Working paper on the Post Keynesian Economics Society website. From the abstract: The current debate on the causes of inflation is dominated by a particular view of what caused the inflationary acceleration in the 1970s, the so-called Great Inflation. In this view inflation is always and everywhere a demand phenomenon and requires contractionary monetary policy to be kept under control. The alternative view put forward by many heterodox authors emphasize what might be termed the...

[embedded content]Neighbors of Zinn Make A Movie This was a year before my mother's mother's mother's ancesters came to this continent. It is on my mother's mother's father's side I am descended from a murderer's brother. My father's ancesters were probably on this continent in 1919, but in Canada. "A black American writer, J. Saunders Redding, describes the arrival of a ship in North America in the year 1619: Sails furled, flag drooping at her rounded stern, she rode the tide...

From the New York Times, Ezra Klein’s opinion piece, The Story Construction Tells About America’s Economy Is Disturbing Here’s something odd: We’re getting worse at construction. Think of the technology we have today that we didn’t in the 1970s. The new generations of power tools and computer modeling and teleconferencing and advanced machinery and prefab materials and global shipping. You’d think we could build much more, much faster, for...

This Is What Happens When Progressives Look the Other Way – Peter Dorman @Econospeak Recent events in Florida—the “Stop WOKE” Act, the rejection of AP African American Studies, the hostile takeover of New College—and the publication of an excellent op-ed about Diversity, Equity and Inclusion (DEI) in the Chronicle of Higher Education have me returning to a topic I blogged on several years ago, but in a new light. It was obvious, and I mean...

Credit conditions in Q4 were recessionary – by New Deal democrat While we are still in our lull concerning monthly data, on Monday there was a significant update of one long leading indicator that is only reported Quarterly: the Senior Loan Officer Survey. This survey has an excellent history of over 30 years telling us about credit conditions. Loosening of credit, and an increase in demand for credit means expansion ahead. Credit tightening...

There are regular interventions from commentators over time who repeat the same thing over and over – usually some prophesy that a currency (for example, the Yen or the USD) will collapse soon, and life goes on until they come out with the same predictions, which never turn out. The mainstream media loves to give these characters a platform because the headlines are sensational and I guess that sells ‘units’ for the companies. The latest I saw was from Mr. Roubini in the Financial Times, who...

Según el economista Thomas Piketty, la educación es el factor determinante para que exista movilidad social, es decir, para que los habitantes que nacen con menos oportunidades puedan ascender en la escala socioeconómica.

Hear me out. Face our fears. Togther!