Category Archives: Fiscal Statements

The Centrelink letters – a clear breach of human rights

Readers who have now seen the latest Ken Loach movie – I, Daniel Blake – will know the frustration that it depicts when a disadvantaged citizen is confronted with the reality of having to deal with a national welfare agency. … Read the rest of this entry »

Posted in Fiscal Statements, Unemployment Benefits | 24 Comments

A lying government pushing economy towards recession and greater inequality

It is highly surreal listening to radio/TV commentators talking about government financial affairs (fiscal balance etc). These so-called experts are paraded before the nation and the script is generally the same. The interviewer who knows virtually nothing but has the … Read the rest of this entry »

Posted in Economics, Fiscal Statements | 12 Comments

Australia – where victims become criminals

Last Monday’s blog – I, Daniel Blake – essential viewing – provided a review of the latest Ken Loach movie and put the institutional details with respect to the inhumane way the unemployment and sickness benefit support system had evolved … Read the rest of this entry »

Posted in Fiscal Statements, Labour costs, Unemployment Benefits | 10 Comments

Our affect is driving us back to a need for continuous fiscal deficits

The field of psychology is usually ignored by mainstream economists, which, in its typically arrogant and closed practice, adopts a series of a priori assumptions about human behaviour – the so-called Homo economicus – where were are always rational and … Read the rest of this entry »

Posted in Britain, Economics, Fiscal Statements, UK Economy, US economy | 11 Comments

Poor fiction from the OECD – the organisation should be abolished

In assessing the role of the multilateral international institutions such as the IMF, the World Bank, and the OECD, one has to have an idea of what their purpose is. The IMF was created to provide funding support to nations … Read the rest of this entry »

Posted in Economics, Fiscal Statements | 16 Comments

Australia’s new central bank governor chooses to dissemble on fiscal issues

The new governor of the Reserve Bank of Australia (our central bank) gave a speech in Melbourne yesterday (November 15, 2016) – Buffers and Options to the annual dinner of the Committee for Economic Development of Australia (CEDA). CEDA is … Read the rest of this entry »

Posted in Central banking, Fiscal Statements | 8 Comments

When New is Old and just another exercise in denial

There is now a so-called “New View of fiscal policy”, which, in fact, is not all that different to the “Old View” although the proponents are hell-bent on convincing us (and presumably themselves) otherwise. The iterative bumbling along of mainstream … Read the rest of this entry »

Posted in Central banking, Economics, Fiscal Statements | 20 Comments

Currency-issuing governments can keystroke their outstanding debt into oblivion

It is always a good sign when some fiscal deficit terrorist or another bleeds in the media that they’re not getting enough attention. Yesterday (October 12, 2016), the Forbes magazine published an Op Ed (although I wouldn’t call the content … Read the rest of this entry »

Posted in Economics, Fiscal Statements | 16 Comments

When the term ‘progressive’ loses all meaning …

The UK Guardian newspaper began life as the Manchester Guardian in 1821 as an artifact of the cotton mill owners who were opposed to the reform movement (for parliamentary representation to alleviate the mass unemployment and poverty that followed the … Read the rest of this entry »

Posted in Economics, Fiscal Statements, National Accounts | 20 Comments

Monetary policy has to work hand-in-glove with fiscal policy to be effective

In a paper – Fiscal Policy, Monetary Policy and Central Bank Independence – delivered to the Jackson Hole Economic Policy Symposium, hosted by the Federal Reserve Bank of Kansas City, last week (August 25-27, 2016), Princeton University academic Christopher Sims … Read the rest of this entry »

Posted in Central banking, Economics, Fiscal Statements | 7 Comments