I've previously talked about my take on inflation and there may be cringe should I repeat myself. The reason I highlighted that quote is because it is something I've seen here before and probably will again - Powell is not an economist. He is a ...

You Say You Want a Financial Crisis?

I think that it is important to slow down a little rather than rattle off a spiders web of interconnected issues without addressing any of them in any detail in a respectful manner. Some of his dot points are indeed correct, but then he darts off ...

You Say You Want a Financial Crisis?

Actually that's only about 15 hours a day, since they should be working weekends as well, you know, doing analysis. For Goldman Sachs.

Working at Goldman Sachs Suuuucks, Leaked Internal Survey Shows

“We do not seek conflict, but we welcome stiff competition, and we will always stand up for our principles, for our people, and for our friends,” Empty words with a significant internal contradiction. Could have been written by one of those software ...

US and China: diplomats have clashed in first face-to-face talks

As if China cares.

U.S., Japan warn China on 'coercion, destabilizing behavior'

The RBA cash rate is mostly between banks and the banks and the RBA. The link with retail rates is one or two steps removed. If that is news, I'm not surprised because of the narrative - media cannot understand anything beyond what was taught in ...

RBA's Kent: Negative Rates Not Under Consideration In Australia

None of that is economics. There is no economic analysis. The words demand and supply aren't even mentioned in an analytical manner. That is because it is science fiction and hand waving. "MMT claims that a sovereign government can issue as much ...

FAQ on MMT: A holy grail or thin air?

Technically a country can try, but won't for more reasons other than debt. The Central Bank can (and does) "buy" debt created by printing money. M1 by necessity, others more creatively - see the graph in post #12. edit - correct me if I am wrong, ...

Yellen Says U.S. Inflation Risk Remains Small, ‘Manageable’

Whenever I read anything that Yellen says I'm reminded of something that Ben Bernanke said on June 20, 2007 "The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained". I may repeat ...

Yellen Says U.S. Inflation Risk Remains Small, ‘Manageable’

So that's crushing one perfectly good and reliable car that someone like a tertiary student with modest financial means might've liked to buy for maybe 3000 quid. And Mohammed (dude in the clip) can then choose what to do with that dosh which may ...

Would you scrap your car for public transport credits?

What I don't understand is why everything is bundled together in the same package. It is important for expenditure for different purposes to be enacted in separate instruments. By the way, I understand the document is about 600 pages of fairly ...

How much stimulus is too much? Biden’s relief bill may have a nasty sting

Australia loves middle-class welfare to those who feel they are entitled.. There is no justification for such an utter waste of other peoples money on ungrateful and spoilt brats. To go on a holiday. Beggars belief. "This package will take more ...

Prime Minister Scott Morrison defends $1.2 billion tourism plan against criticism of 'very...

There exists similar provisions in Australian law. To meet the requirements isn't easy, but quite do-able. There have been some cases which have been quite bizarre. This is not so uncommon in estate disputes, but this is off topic - this is for some ...

41-Year-Old Jobless Man Sues His Parents for Lifelong Financial Support

What is the situation for obtaining welfare benefits in the UK if you are unemployed?

41-Year-Old Jobless Man Sues His Parents for Lifelong Financial Support

Bit like some dudes manipulated LIBOR some years ago? Central banks don't go to jail.

Treasury Auction Results

All bids tendered at lower than 1.523% were accepted. The median yield was 1.467%.

Treasury Auction Results

What manufacturers are doing (and have been for some years now) is make the packs smaller. Same price. Recent examples I know of are Nutella reducing jars to 350 grams from 400, and the number of hot dogs (or whatever they are called in one's ...

House to vote on stimulus bill tomorrow

Well its lovely to learn that China is embracing not only neo-classical economic theory, but that of one of the most Libertarian and free market economists who ever lived, Milton Friedman.

China: Growth of money supply & social financing will basically match GDP

Yeah - I cannot comment on the provided numbers except that they are probably in the ballpark, but the language conveys that it was written by the propaganda arm of the CCP (Chinese Communist Party). It turns the actual truth upside down and inside ...

Will China’s exports to Australia, others keep growing?

I'm struggling to join the dots. That China's FX reserves may be affected is always a consideration. I reckon they should dump everything in a fire sale if they are such wusses. What I do know is that China is in large part responsible for the ...

Too much stimulus in the U.S. may bring 'imported inflation' to China, economists warn