Recent extended discussion with RadioMMT – Part 1

It is a public holiday in Australia today celebrating our national day – the day that the colonial powers of Britain first decided to set us up as a penal colony because they had run out of prison space in the old country due to the massive incarceration rates following the enclosures. The impoverished small scale farmers who relied on the open ‘commons’ to survive were dispossessed by the privatisation of the communal lands. They were then criminalised as a result of their poverty and starvation and shipped off to what is now Australia. A sorry start to white settlement. However, the country was settled at least 30 thousand years prior to white settlement by the first nation peoples. They call today ‘invasion day’ as do the whites who are sympathetic to their oppression (such as me). Today is thus a highly conflicted one – big street marches recognising the invasion, competing with traditional white Australia Day events, and, then, being challenged more recently by the so-called March for Australia movement rallies which are a front for neo-nazis who hate immigration and most nearly everything else. The call to abandon today as our national day and instead shift it to a date that would not cause the first nations people such angst falls on deaf ears. Anyway, today I am not writing any more but am promoting a recent discussion I had with the RadioMMT program on Melbourne’s community radio station 3CR. I will be back on Thursday with some analysis of the upcoming Japanese national election, which is providing lots of opportunities for education.

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Video of Australian book launch of ‘Modern Monetary Theory: Bill and Warren’s Excellent Adventure’

It’s Wednesday and as usual I am writing about a few issues rather than providing a detailed analysis of a specific issue. Today, I publish the video of Australian launch of our new book – Modern Monetary Theory: Bill and Warren’s Excellent Adventure. I also comment on the current situation in the Middle East and finish with some great music from the rather odd collaboration between Oscar Peterson and Stéphane Grappelli in the early 1970s.

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Central bankers live in a parallel universe

It’s Wednesday, which means a few (sometimes unrelated) items are discussed or analysed. Today, we see that real wages in 16 of the 35 OECD countries are still below the pre-pandemic levels, which tells us among other things that the inflationary pressures were not wage induced. Further, a speech yesterday by the Federal Reserve boss demonstrated quite clearly how central bankers fudged the whole rate hike narrative. And after all that, some music from the 1960s.

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The yen, podcast, and book announcement – all on International Workers’ Day

It’s Wednesday and today I consider the current yen situation which is causing some hysteria in the financial media even though there is not much to worry about. I also provide access to my latest podcast with the Washington-based Bad Faith, which traverses issues of class, the demise of the Left, Modern Monetary Theory (MMT) and degrowth. And the book announcement – pre-orders are now available. And finally an anthem for International Workers’ Day.

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The parallel universe in Japan continues and is delivering superior outcomes, while the rest look on clueless

It’s Wednesday and I have some commitments in Melbourne (recording a podcast with the Inside Network) and that requires some travel. So time is tight. Today, I update the latest from Japan courtesy of yesterday’s release from the Bank of Japan of its ‘Statement on Monetary Policy’. The parallel universe continues and is delivering superior outcomes, while the rest of the world’s policy makers, smitten with neoliberal nonsense, have their heads in the sand and the economies are turning to dust. I also provide some links to the video recording of the launch of the Japanese version of Reclaiming the State, which was held in Kyoto in November 2023. And I provide some links to a major article that I was featured in with one of Japan’s leading magazines. And if that isn’t enough, we have Voodoo Child.

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