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Politics in a Podcast – fiscal statements and the pandemic future

It’s Wednesday and just a few things today while I attend to other things (writing, meetings, etc). I will have an interesting announcement to make in a few weeks (around then) about a project I am working on that I hope have wide interest. Today, we have a podcast I recorded a few weeks ago with the Politics in the Pub, Newcastle group – now, in this coronavirus era being rebadged and reformatted as Politics in a Podcast. And then we celebrate a great musician who died last week but left some memorable songs for us to take into the future.

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Video – An economy that guarantees health and wellbeing for all

Today, on my blog-light day, I have a video of a recent event where I spoke (with other speakers being John Quiggin and Noel Pearson). The event was in conjunction with the Public Health Association of Australia’s annual conference and we are discussing the interface between health and the economy and the right to work and income security. It was an interesting and very civilised discussion. And when you are through watching that, we also have a ‘provocation’ to consider and then some jazz. All the interests of advancing humanity!

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A conversation about MMT

Its Wednesday and my blog light day. The Australian Federal government unveiled their grand fiscal statement (aka Budget) last night. I am pretty tied up today and need some time to read the papers and data accompanying the release. As a result I will reserve my commentary until tomorrow. But if one word would suffice then my conclusion is – pathetic. More words would tell you that there is nothing visionary about this statement or strategy. There is lots of cash lollies for people – well not much for the lower-paid and plenty for the top-end-of-town but no longer term investment strategy which would address the other crisis humanity is facing other than the health, unemployment and poverty crises – and I refer to the climate crisis. I also do not support the tax cuts which hand over big increases in disposable income at the top end of the income distribution and very little at the other end. The longer term consequences of that strategy will be to limit the non-inflationary size of government, which, of course, is the conservative strategy. But what will be left of government when things stabilise will not be very progressive. Anyway, I will consider the documents later today and comment tomorrow. Probably.

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Podcast – Unemployment, Surpluses and Investment

Its Wednesday so a shorter blog post today with an interview I recently did with financial market educational professionals, the i3 (Investment Innovation Institute) where I cover a range of topics of current interest from an Modern Monetary Theory (MMT) perspective. Then we get down with some very cool music. And that is it. And I turned off the debate today in the US after 5 or so minutes and wondered what the hell that nation has become. None of the contenders is electable would be my conclusion.

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How would Job Guarantee wages be set?

It is Wednesday so some snippets and some music – sad music this week because it signals the death of one of the great pioneers of Jamaican music last week. I am holding a Mini-Music Festival today – right here on my blog. Join in an celebrate a legend. But a few economics matters first pertaining to the Job Guarantee and the nonsensical arguments I have been seeing in the media about it being a system of enslavement and not better than a system that forces workers into unemployment.

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British-EU disputes suggest the Tories are set to break away from the sordid Thatcher legacy

Wednesday brings music and not much blog posting activity. But I have been following the debate in the UK and Europe about the likelihood of some sort trade deal or not with some interest and amusement. There are several facets to the discussion: (a) the on-going hypocrisy of the European Union elites; (b) the necessity for major state intervention in Britain (and everywhere) and the possibility that the Tories will abandon Margaret Thatcher’s EU single market legacy is another sign that the paradigm shift in macroeconomics is well under way. (c) the way in which the Labour party are being wedged on the issue and refusing to come out in support of further state aid. Instead, inasmuch as they are saying anything, they are just repeating the mindless, neoliberal dogma about ‘free trade’. They will lose on that one, one thinks. All round it is interesting to follow as an external observer.

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MMT blows the cover on the fictional world of mainstream economics that serves class interests

Given I presented a full analysis of the National Accounts release yesterday, I am calling today Wednesday and not writing much by way of blog posting, to give me more time to write other things that have to be done. But there is one issue that I will deal with today and regularly comes up and indicates that we are making progress. And after that we can all ‘Rise and Shine’ with some beautiful music.

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Remembering a friend today

Today is my light blog day (Wednesday) and it will be even lighter as a result of commitments I had today. Earlier, I attended a funeral for a great person – Tuấn Nguyễn Văn – who died last week in his home of Auckland. He is known to many Modern Monetary Theory (MMT) people for his relentless pursuit of politicians who continually do not tell the people the truth about the policy options, and, instead, impose material costs on the least-able to defend themselves against unemployment, low pay, precarious work, cuts in public services, degraded infrastructure and more. He was a really nice person and I am so glad I was able to meet him personally earlier in the year. So I decided not to write anything more than that today by way of blog post writing and took the time attending his funeral to reflect a bit on lost souls who were valued and precious. Some appropriate music follows.

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