CEPR Senior Economist Dean Baker appeared on NPR and discussed his reactions to President Biden's State of the Union address. View the full interview here: https://www.democracynow.org/2023/2/8/robinson_baker_duss_ramirez_4

Yesterday, the Reserve Bank of Australia lifted the interest rate target for the ninth consecutive time (they didn’t meet in January) claiming that they had to do this to stop inflation accelerating and restoring price stability. Except inflation already peaked in the March-quarter 2022 as a result of the driving factors abating. Further, none of the major driving factors are remotely sensitive to domestic interest rate movements. The RBA’s excuse is that there are dangerous domestic demand...

The difference between logic and science .[embedded content] In mainstream economics, both logic and mathematics are used extensively. And most mainstream economists sure look upon themselves as “twice blessed.” Is there any scientific ground for that blessedness? None whatsoever! If scientific progress in economics lies in our ability to tell ‘better and better stories’ one would, of course, expect economics journals to be filled with articles...

Celsius Network was never a real business. It did not have a viable business model. Really, it was a momentum trading scheme that relied on the premise that crypto prices would always rise. And when they didn't, it resorted to fake valuations and market manipulation to escape insolvency. It was fraudulent from the start.  This is the conclusion I've reached after studying the U.S. Examiner's final report (yes, I've read all 476 pages of it) and Celsius's audited reports and accounts up to...

President Joe Biden delivered his second State of the Union address Tuesday, touting his administration's achievements and laying out his plans for the next two years under a divided Congress, including on immigration, the economy, the climate crisis and more. We speak with Democratic Congressmember Delia Ramirez, who delivered a response to Tuesday's speech on behalf of the Working Families Party, and economist Dean Baker, who both applaud Biden's focus on income inequality and making the...

On Friday, January 27, 2023, DiEM25 co-founder and MERA25 leader Yanis Varoufakis gave a speech at the Havana Congress on the New International Economic Order, about the need for a new Non-Aligned Movement to "end the legalised robbery of people and Earth fuelling climate catastrophe." This video was produced DiEM25.org and published on their YouTube channel on January 30, 2023. We republished it today on our channel to raise more awareness about this issue - locally and...

GOP sees higher rates and higher taxes as the enemy… Cuts to Medicare and Social Security are off the table.Defaulting on our debt is not an option.But neither is a future of higher taxes, higher interest rates, and an economy that doesn’t work for working Americans. pic.twitter.com/KhLEEhaNNx— Kevin McCarthy (@SpeakerMcCarthy) February 6, 2023 Democrats = Higher taxes + higher interest rates… GOP = lower taxes + lower interest rates

According to Pence, Republicans will come up with a Better Deal to replace Social Security. Allow younger people to place their funds in private and commercial investment funds. Funds from which a portion will be taken to manage them and to which will be exposed to the ups and downs of the economy. Abandoning Social Security is part of the Republican plan to resolve the national debt. Countering this pan would be to allow the trump tax cut of...

Scenes from the blockbuster January jobs report 2: revisions do not resolve discrepancies in the reports  – by New Deal democrat Yesterday I wrote that the blockbuster January jobs report was essentially the result of two factors: (1) a very low number of potential applicants in the jobs pool with an unemployment rate well under 4% meant that employers were reluctant to let go of workers, which especially impacted the numbers, which particular...

The science of evaluation .[embedded content]