New blog.
Q: What is the logical thing to do for someone arrogant enough to presume that his ideas are worth telling, boring enough to repeat the same ideas to all his long-suffering friends and acquaintances,...
View ArticleFlaunting bad to distract from worse: the zero-deposit diversion
A dangerous old mortgage product is picking up steam again amongst Australian banks: the so-called ‘zero deposit home loan’. The offer is usually some variation on the same general themes: borrow up to...
View ArticleThe Origin of Currencies (or: the deficit-savings equality)
This is the first of a series of introductory posts I would like to make to avoid cluttering future commentary with superfluous explanation. It is well known but poorly understood that our currency...
View ArticleDeflating the inflation fear: an introduction to inflation in the modern...
I explained in my last post the zero-sum relationship between net savings, public debt and the balance of trade, and that since government budget deficits do not need to be financed the only danger of...
View ArticleNever a Waste of Taxpayer Dollars (Ever)
If there’s any bad habit that transcends political alignment it is denouncing government projects as a “waste of taxpayer money”. If you’ve been following my posts on deficit spending and inflation you...
View ArticleThe Flow of Funds
I’ve made an diagram of how money flows around in the modern monetary system, and added some MMT propaganda around it for effect. I plan to make reference to it an upcoming post, but for now it’s just...
View ArticleUnemployment, Welfare and Minimum Wage
The most visible indicators of macroeconomic health are related to employment and welfare. A healthy economy is recognisable as one in which anyone willing to work can find a suitable job with a fair...
View ArticleTalking money
I’m going to be at GhengisCon next weekend speaking on a panel about digital economies. The topic is “A discussion of digital economies, WoW gold, EVE ISK, Secondlife Lindens, OM$ and bitcoins. How are...
View ArticleExtended trading hours and the retail labour market
This was a rather rushed article for a local newspaper. I thought some readers here might be interested too. In the public debate surrounding Western Australia’s highly regulated retail trading hours...
View Article[Don't] Give austerity a chance
Stephen Kirchner and Robert Carling plead us to give austerity a chance, citing Alesina and Ardgana’s work on fiscal adjustment to show that austerity is as likely as fiscal stimulus to be followed by...
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