\t\t\t\tToday 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.
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Last week, Randy Wray and I joined some scholars from Brazil, who have established the – Instituto de Finan\u00e7as Funcionais para o Desenvolvimento<\/a> – or Institute of Functional Finance for Development or IFFD for short.<\/p>\n This was their inaugural event and both Randy and I were really pleased to be invited as speakers at their launch.<\/p>\n 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.<\/p>\n That obsession has constrained public policy and prevented millions from escaping the interminable poverty that the application of mainstream economics creates.<\/p>\n Here is their – Manifesto<\/a> (in Portuguese).<\/p>\n This is what I have been listening to while working this morning.<\/p>\n On Monday, I presented the jazz interpretation of Erik Satie’s Gnossienne pieces by French pianist Jacques Loussier with his Trio.<\/p>\n Please read my blog post – Progressive political leadership is absent but required<\/a> (October 24, 2018) – for more detail on Erik Satie.<\/p>\n Today, to complete the picture, here is the – Jacques Loussier Trio<\/a> – playing Erik Satie’s Gymnop\u00e9die No. 1, which is the first of his suite of three exercises or – Trois Gymnop\u00e9dies<\/a> – for piano, which were written between 1888 and 1895.<\/p>\n 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.<\/p>\n Here is the jazz version of the first of the three pieces.<\/p>\n It is off an album – Jacques Loussier Trio Satie, which was released in 1998 (Telarc Jazz).<\/p>\nMusic – One can never have enough Jazz – Part 2<\/h2>\n