Category Archives: Fiscal Statements

Limits to government spending are not determined by private bond markets

Wednesday and a relatively short blog post after two rather long posts in the preceding two days. The first topic concerns the limits to government spending. The second brief topic reports on research where it was found that the music … Read the rest of this entry »

Posted in Fiscal Statements, Framing and Language, Music | 5 Comments

The abdication of the Left – redux – Part 2

This is the second and final part in my response to the Social Europe article by Stuart Holland (July 11, 2018) – Not An Abdication By The Left – where he attempts to eviscerate various writers who have dared to … Read the rest of this entry »

Posted in Demise of the Left, Eurozone, Fiscal Statements, Framing and Language, Reclaim the State | Leave a comment

The abdication of the Left – redux – Part 1

Former Austrian Chancellor Bruno Kreisky was quoted as saying during the 1979 Austrian election campaign that: “I am less worried about the budget deficits than by the need for the state to create jobs where private industry fails”. That is … Read the rest of this entry »

Posted in Demise of the Left, Eurozone, Fiscal Statements, Reclaim the State | 9 Comments

Fiscal policy in Australia is undermining the future of our grandchildren

Its Wednesday, so just a few short snippets that came to my attention, some comedy and some great music that has kept me company today while I have been working today. The first snippet concerns my revelation that fiscal policy … Read the rest of this entry »

Posted in Eurozone, Fiscal Statements, Music, Politics | 9 Comments

Governments should not issue debt under foreign law

In examining the implications for an exit from a currency union, one of the issues that arises is the proportion of public debt that is issued under foreign law. This is a separate issue to the implications of foreign-currency denominated … Read the rest of this entry »

Posted in Eurozone, Fiscal Statements, Reclaim the State | 8 Comments

The BIS should be defunded and then dissolved

On June 24, 2018, the Bank of International Settlements (BIS) released their – Annual Economic Report 2018 – which contains their latest analysis of the global economy including the risks they think the current growth process faces. It is full … Read the rest of this entry »

Posted in Central banking, Eurozone, Fiscal Statements, Framing and Language | 12 Comments

Real resource constraints and fiscal policy design

There is an interesting dilemma currently emerging in Australia, which provides an excellent case study on how governments can use fiscal policy effectively and the problems that are likely to arise in that application. At present, the Australian states are … Read the rest of this entry »

Posted in Debriefing 101, Fiscal Statements, Job Guarantee, Labour costs, Labour Force | 40 Comments

Timor-Leste – challenges for the new government – Part 2

This is Part 2 of my mini-series analysing some of the challenges that the newly elected majority government in Timor-Leste faces. Yesterday, I documented how the IMF and World Bank had infused its ideological stance into the currency arrangements that … Read the rest of this entry »

Posted in Fiscal Statements, Timor-Leste | 8 Comments

Lower bond yields do not save the Japanese Government money

I was going to write about the situation in Timor-Leste after its national elections were held on Saturday. But I will hold that over for another day as I get some more information. So today, I think we can learn … Read the rest of this entry »

Posted in Economics, Fiscal Statements, Japan | 3 Comments

Australian fiscal statement 2018-19 – an election stunt, limited economic coherence

The Australian Treasurer brought down the 2018-19 Fiscal Statement (aka Budget) on Tuesday evening with much fanfare. The one message that dominated the cant and hypocrisy was that there will probably be an early election, maybe later this year. The … Read the rest of this entry »

Posted in Fiscal Statements | 8 Comments