Monthly Archives: March 2012

Saturday Quiz – March 31, 2012

Welcome to the billy blog Saturday quiz. The quiz tests whether you have been paying attention over the last seven days. See how you go with the following questions. Your results are only known to you and no records are … Read the rest of this entry »

Posted in Saturday quiz | 1 Comment

A seriously reckless act

I read this morning that there were riots in Spain overnight – Arrests, clashes amid general strike in Spain. I thought that, ultimately, this may be the only way that the neo-liberal economic madness that has beset the world, amidst … Read the rest of this entry »

Posted in Economics | 11 Comments

Fiscal austerity – there is another way

I have had very little time today (worse than usual). I gave a 3 hour lecture today on Modern Monetary Theory (MMT) and unemployment to a final-year class in the Social Work program at the University of Newcastle. It was … Read the rest of this entry »

Posted in Economics | 30 Comments

The nearly infinite capacity of the US government to spend

I was examining the latest US Federal Reserve Flow of Funds data the other day. This data comes out on a quarterly basis with the latest publication being March 8, 2012. Other related data from the US Treasury (noted below) … Read the rest of this entry »

Posted in Economics, US economy | 18 Comments

Fiscal policy is the best counter-stabilisation tool available to any government

In yesterday’s blog – A nation cannot grow without spending – I challenged a view that dominates the European debate which says that fiscal austerity (choking discretionary net public spending) supplemented with vigorous so-called “structural reforms” (aka ransacking wages and … Read the rest of this entry »

Posted in Economics | 17 Comments

A nation cannot grow without spending

On Saturday (March 24, 2012), the Sydney Morning Herald published an article by University of Chicago economist John Cochrane – Austerity or stimulus? What’s needed in the US is structural reform. Earlier, on Thursday (March 22, 2012), Bloomberg published an … Read the rest of this entry »

Posted in Economics | 15 Comments

Saturday quiz – March 24, 2012 – answers and discussion

Here are the answers with discussion for yesterday’s quiz. The information provided should help you understand the reasoning behind the answers. If you haven’t already done the Quiz from yesterday then have a go at it before you read the … Read the rest of this entry »

Posted in Saturday quiz | 2 Comments

Saturday Quiz – March 24, 2012

Welcome to the billy blog Saturday quiz. The quiz tests whether you have been paying attention over the last seven days. See how you go with the following questions. Your results are only known to you and no records are … Read the rest of this entry »

Posted in Saturday quiz | 4 Comments

Questions and Answers 4

This is the Q&A (Part 4) blog where I try to catch up on all the E-mails (and contact form enquiries) I receive from readers who want to know more about Modern Monetary Theory (MMT) or challenge a view expressed … Read the rest of this entry »

Posted in Q&A | 17 Comments

UK Budget reveals what is really going on

The British government brought down their 2012 Budget yesterday. I haven’t had time to fully digest all the detail yet and I am not yet fully conversant with all the discussion papers that underpinned the official budget documents. My experience … Read the rest of this entry »

Posted in Britain | 12 Comments