It’s time for a detailed note on the political circus in Washington DC gyrating over the debt ceiling.
Continue readingEconomics
The $1 trillion coin solution to the debt ceiling crisis
The idea of the trillion dollar coin is back, it seems. This idea is so gobsmackingly stupid that it has attracted the approval of Paul Krugman.
Continue readingPlease Sir, I want some more
I accidentally stumbled onto the website of the Reserve Bank of Australia (RBA) on a recent search for inflation data. Trust me, it was an accident. While I sometimes visit the RBA site for a laugh, I never go there to learn anything.
In this case, the RBA page gave an explanation of the causes of inflation. Stop me if you’ve heard this before: demand-pull, cost-push and inflationary expectations. Yawn. Decades after the twitterings of Keynes and Samuelson, the modern day RBA types still believe that rubbish.
The unwelcome return of the Gold Standard
Imagine you were to pen a letter to the editor of any major newspaper predicting that the world’s major economies would be going back on a currency gold standard. Imagine, assuming the letter was published, the gales of laughter from the readers.
Continue readingInflation Bulletin
March 2023 quarter data have been released. Time for an update.
Continue readingWhere is Ignominy?
I’m not entirely sure where Ignominy is but I do know that lots of things end up there. It is common to hear of this or that ending up in Ignominy. Perhaps I should look it up on Google Maps.
Continue readingJust go
The Reserve Bank of Australia has finally admitted that “we did a terrible job.”
Continue readingHe’s right
Premier Andrews is correct.
Continue readingBack in Black
Can a leopard change its spots? The Grattan Institute has released a report titled “Back in Black”. It contains recommendations on how to correct Australia’s chronic budget deficit problem.
Continue readingCorrect analysis, wrong conclusion
What is the point of research and analysis if the conclusions drawn are wrong? How can an institution correctly analyse the problems in our economies and yet call for more of the same actions that have caused the malaise?
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Australian Actuary 