Supermarket executives were up on Parliament Hill this week, appearing before the Standing Committee on Agriculture and Agri-Food’s inquiry into food inflation grocery chain profits. They repeated the now-familiar argument that supermarkets have not caused food inflation, they have merely passed along higher input costs to their customers; their profit margins have been stable, it is claimed. Don’t believe them. Here are a few data points on the argument that the chains haven’t...

Welcome to The Bitcoin Layer, where we bring you research, analysis, and education for all things bitcoin and macro. Nik sat down with Cullen Roche, author, macro investor, and Chief Investment Officer at Discipline Funds. Cullen discusses the current macroeconomic environment, similarities and differences to 2008, and how stocks will respond as we reach peak interest rates for this cycle. Follow Cullen on Twitter: https://twitter.com/cullenroche Cullen's Book 'Pragmatic Capitalism':...

Budget balance is total spending minus total taxation. Not too difficult to figure out how that will trend. 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

My friend Dr. Sabri Oncu has established an innovative seminar program at Kadir Has University in Turkey. Called the "Kadir Has Lectures on Global Political Economy", it has had lectures from a number of non-mainstream economists, including Ann Pettifor, Frances Coppola, Yanis Varoufakis, and Jan Kregel. Forthcoming lecturers include Louis Philippe Rochon and Matias Vernengo. You can find the series here: https://www.youtube.com/playlist?list=PLF796nZs0vOE-Rbrquqdfdrm0ck92lMjI...

What Philip Pilkington does not mention is that the economic warfare program that the US has adopted and its allies have mostly gone along with is a informal declaration that the era of free markets, free trade and free flow of capital is now over. The US-led West has shifted from a peacetime to a wartime economy.The other factor left unmentioned is "The Great Reset," meaning especially the transition from carbon-based energy sources to alternatives in order to address climate change.Both of...

 Every Union member and working class man and woman and child in the United States of America should be livid right now. President Joe Biden (a Democrat), the Democratic Party leadership in the House and Senate, and the vast majority of Democratic (& Republican) Party politicians in the Capital just fucked over Rail workers and sided with the billionaire bosses again. The Rail corporations, after years of record profits, shall not be required to pay workers if they have to miss a day of...

Poland getting tanks…1,000 South Korean variant:Poland has announced that it will create a consortium in the coming days with South Korea, which will be responsible for building K2PL in Poland.It will be the Polish, upgraded version of the South Korean K2 tank.Poland will buy 180 K2s & will build 820 K2PLs.???? pic.twitter.com/9Eub0PeHYR— Visegrád 24 (@visegrad24) November 28, 2022 366 US M1 variant:BREAKING:On Tuesday, the US State Department approved a sale of 116 M1A1 Abrams tanks to...

Assorted topics this time. Consumerism was actually the first topic on the list of links in my In-Box. I am interested in seeing how the US negotiates with the Taiwanese on a new plant and what the US will do with Supply Chains. It is not as simple as what many people think. You should know how the product is made. The US is sorely lacking in Supply Chain planning. The expertise is concentrated in mathematics rather than on the floor actual...

Scenes from the November employment report: the short leading jobs indicators – by New Deal Democrat Every month as part of my post on the jobs report, I run through the changes in those measures which are short leading indicators for the economy. There were some significant developments in the past several months, so let’s take a closer look here. Here’s a historical look at temporary help services, residential construction jobs, and...

DSGE models — a macroeconomic dead end Both approaches to DSGE macroeconometrics (VAR and Bayesian) have evident vulnerabilities, which substantially derive from how parameters are handled in the technique. In brief, parameters from formally elegant models are calibrated in order to obtain simulated values that reproduce some stylized fact and/or some empirical data distribution, thus relating the underlying theoretical model and the observational...