Today is Wednesday and I have to travel most of the day and present to a large financial markets gathering in Sydney tonight. My theme tonight will be ‘What the Hell is Going On’, as a challenge to the mainstream who haven’t a clue about what is happening and summarise their lack of awareness and the dissonance that is creating for them by screaming about inflation. The mainstream macroeconomists are so far off the mark these days that they must be like the flat earth theorists who watched ships successfully sail off the edge of the globe only to come back around the other side. They are lost and can only interpret the current events in terms of ‘duh, central banks buying bonds, too much money in the system, duh, must be inflationary’. Anyway, today some jazz and a video to watch.
Creation of a new Institute in Brazil
Last week, Randy Wray and I joined some scholars from Brazil, who have established the – Instituto de Finanças Funcionais para o Desenvolvimento – or Institute of Functional Finance for Development or IFFD for short.
This was their inaugural event and both Randy and I were really pleased to be invited as speakers at their launch.
This is a great initiative and I hope they can create change in the economics debate in Brazil, which is obsessed with issues pertaining to currency instability and debt.
That obsession has constrained public policy and prevented millions from escaping the interminable poverty that the application of mainstream economics creates.
Here is their – Manifesto (in Portuguese).
This video documents their launch. Most of it is in Portuguese but from 10:53 to 27:00 you can see some of the contribution Randy and I provided to the discussion in English.
Anyway, to Simone and Daniel and Co, good luck with your venture.
Music – One can never have enough Jazz – Part 2
This is what I have been listening to while working this morning.
On Monday, I presented the jazz interpretation of Erik Satie’s Gnossienne pieces by French pianist Jacques Loussier with his Trio.
Please read my blog post – Progressive political leadership is absent but required (October 24, 2018) – for more detail on Erik Satie.
Today, to complete the picture, here is the – Jacques Loussier Trio – playing Erik Satie’s Gymnopédie No. 1, which is the first of his suite of three exercises or – Trois Gymnopédies – for piano, which were written between 1888 and 1895.
They are in 3/4 time and the first one was indicated by Erik Satie to be played in a ‘Lent et douloureux’ fashion. Very slow and very gravely.
Here is the jazz version of the first of the three pieces.
It is off an album – Jacques Loussier Trio Satie, which was released in 1998 (Telarc Jazz).
As an additional link – here is the version by – Blood, Sweat and Tears – from their – Variations on a Theme by Erik Satie (1st and 2nd Movements) – which appeared on their second album from 1968.
Quite a contrast to the rest of that album.
That is enough for today!
(c) Copyright 2021 William Mitchell. All Rights Reserved.