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The neoliberal era has made humanity progressively crazy when it comes to currency matters. At the moment, this trend seems to have reached new heights of absurdity. I note that the US government is now buying up its own debt with more debt as a cover for the stupidity that its President and his lackeys…

Last month, I noted that the sharp shift towards part-time work was the first signal that a labour market contraction was coming. The latest data released today confirms that the contraction is now eating into overall employment and pushing the unemployment rate up. The Australian Bureau of Statistics (ABS) released the latest labour force data…

Today (August 19, 2026), the Australian Bureau of Statistics released the latest – Wage Price Index, Australia – for the June-quarter 2026, which shows that the aggregate wage index rose by 3.2 per cent over the 12 months down from 3.4 per cent in the March-quarter. With the annual inflation rate for the June-quarter came…

The ECB recently published in their Occasional Paper Series the following report (No. 397) – Prohibition of monetary financing: an economic perspective – which purports to justify the current practice of central banks of not directly buying the debt issued by their governments, despite many central banks at various times since this practice became the…

I am travelling most of today and have commitments at the other end. So I have meaning to post his podcast I did with Melbourne radio station 3CR in July, so today is a good time to make it available here. As I understand it, this is an edited version of a longer talk that…