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#monetary
2 posts1 participant0 posts today
We can learn things from every #socialist experiment. From #Yugoslavia we learn do not take out loans from the International #Monetary Fund or the world #bank.
Continued thread
♬ 
Day 22 
“At the time, the International #Monetary #Fund (#IMF) had just released a staff report on Australia's economy which contained this graph of Australian house prices. It shows how #PropertyPrice #inflation had really accelerated in the early 2000s (in real terms, once inflation had been taken into account), which explains why people were so worried.
The index of real property prices in major #Australian #cities jumped by 46 per cent between 2000 and 2003. (Source: International Monetary Fund, Australia, Staff Report for the 2003 Article IV Consultation, September 3, 2003.) In its report, the IMF noted that investor demand was contributing to the property price increases. It said that was understandable, because the expected returns on housing were far outstripping returns on other assets in Australia in the early 2000s.”
"Consequently, by the end of 2002, investor housing accounted for 30 per cent of the stock of housing loans, compared to 18 per cent a decade ago,"
Australians are being played for mugs by the *Investor Class.*
#AusPol / #LNP / #Liberal / #Nationals / #Labor / #HousingCrisis <https://www.abc.net.au/news/2025-04-20/when-housing-turned-toxic-captured-in-talkback-chat-with-pm/105155458> / Original transcript <https://pmtranscripts.pmc.gov.au/release/transcript-20920>
The #trade wars #Trump is declaring on almost all industrialized and emerging countries, along with his behind-the-scenes #monetary maneuvers to reduce #USA 's #debt servicing by forcing the U.S. #dollar down on the foreign exchange #market ,are likely to plunge the #global #economy into an unprecedented #recession .What a calamity this #president is.
Right this minute, Elon #Musk and the #Trump administration are trying to subject America to a rapid program of 
destructive austerity.
There is no one better to discuss the economic implications of this than the economist and professor #Stephanie #Kelton.
A former chief economist to the Senate Budget Committee and economic advisor to Bernie Sanders’ presidential campaigns,
Kelton is the author of
“The Deficit Myth,”
the book that catapulted the ideas of #Modern #Monetary #Theory into the mainstream.
Much of Kelton’s career has been spent on dismantling the intellectual underpinnings of the idea that the government cannot afford to help us all.
I spoke to her about the Republican economic agenda, inflation, crypto, Donald Trump’s inexplicable beliefs, and what the feckless Democrats should be doing now.
Our conversation, lightly edited for length and clarity, is below.
https://www.hamiltonnolan.com/p/stephanie-kelton-on-the-disastrous
How Things Work · Stephanie Kelton on the Disastrous Republican Economic Agenda
Finland and Ireland report lowest rates as eurozone inflation picks up https://www.byteseu.com/720834/ #annual #area #authority #bank #baseline #Central #change #consumer #disinflation #driver #ECB #eu #euro #European #Eurostat #Eurozone #Finland #Finnish #Finns #Inflation #Ireland #lowest #monetary #price #rate #service #Union #YearOnYear
His agents are securing direct communication and control over the federal bureaucracy by attacking and controlling #opm and #gsa #IT systems. Thread about that here: https://federated.press/@NiftyLinks/113927598764386780
Simultaneously, they're attempting to get control of the centralized #finance and #monetary payment systems at the department of the #treasury ?
Where's #uscybercom and the #NSA?
MastodonNiftyLinks (@NiftyLinks@federated.press)' "Musk has sought to exert sweeping control over the inner workings of the US government, installing longtime surrogates at several agencies, including the Office of Personnel Management, which essentially handles federal human resources, and the General Services Administration." '
Best I can tell, #Musk is pulling a #coup by directly attacking #USA federal #IT infrastructure. Where the hell are the #NSA and #DoD? And the US Marshalls?
https://arstechnica.com/tech-policy/2025/01/musks-doge-clashes-with-treasury-over-access-to-payment-system-report-says/
Bank of Finland foresees muted economic growth https://www.byteseu.com/588613/ #adjustment #authority #bank #Belt #Central #confidence #consumer #consumption #cost #demand #domestic #DonaldTrump #economic #economy #Employment #Eurozone #expand #export #Finland #Finnish #Finns #fiscal #forecast #forecasting #GDP #gross #grow #Growth #household #Interest #Labour #market #monetary #president #private #product #rate #saving #tariffs #tightening #unemployed #unemployment #US
(#euro area monetary #austerity) #monetary policy is not a hypothesis a central bank could test and retest without consequences …. something always breaks …. #underemployment …
#Swiss National Bank @SNB_BNS is aware of the fact that too low #inflation could limit #monetary policy effectiveness chart @FT https://www.ft.com/content/088d3368-bb8b-4ff3-9df7-a7680d4d81b2
#fiscal and #monetary #austerity
#Germany ‘s ailing #industrial production, chart @MESandbu @FT https://www.ft.com/content/47cfc02a-1920-4b3e-a9d2-a6603dbefa0c
#China this week unveiled broader-than-expected #monetary stimulus and #property market support measures to restore confidence in the world's 2nd -largest economy, with more #fiscal measures expected to be rolled out soon, chart @Reuters https://www.reuters.com/markets/asia/chinas-central-bank-cuts-banks-reserve-requirement-ratio-by-50-bps-2024-09-27/
#art and #monetary policy
#kunsthauszuerich mantra “Over and Above” sounds societal much better than CB’s arid “Higher-for-Longer” narrative.
#monetary #austerity is an unforced error while @ECB faces #disinflation pressures not only in the #eurozone, but globally.
What is the much-touted American #exceptionalism in the realm of the economics?
Today, this belief seems to encompasses the key idea: #fiscal policy will be more important than #monetary policy.
Continued thread
“#MissionCreep: #TheFed has moved beyond its traditional technocratic role & ‘pursued a much more expansive #monetary & #regulatory agenda that is more consistent w/an explicitly #political institution.’”
(Again, this is from George F. Will, so a libertarian conservative; NOT my perspective)
Continued thread
“‘while allowing #theFed the flexibility to unwisely expand its remit into inherently #political areas such as #credit rationing & #banking #regulation.’ Here is #groupthink: ‘Despite the biggest #monetary errors in 4 decades,’ Katz & Miran write, none of the 9 recent appointees to the Board of Governors was on record as having made accurate predictions about #inflation’s path.