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Last week, I considered recent research published by the BIS – Bank of International Settlements pushing the ‘growth friendly austerity’ myth – which was a classic example of how the sense of urgency and crisis is engendered by constructing the narrative in such a restricted manner that real world options are excluded which contradict the…

I have been ‘at it’ for decades now but it never ceases to amaze me how mainstream macroeconomic analysis is carried out and the way the public just accepts the conclusions without understanding the basis on which the analysis generates those conclusions. Chapter II in the BIS Annual Economic Report (released June 28, 2026) –…

The editorial in The Japan Times (July 3, 2026) – Little hope for a declining yen amid structural pressures – is an example of how mainstream commentators seize on superficial facts, apply some ideology, and come up with the wrong conclusion. As I have noted many times, the challenges facing Japan are many, not the…

The recent extreme weather in the northern hemisphere, the twin monster tropical storms in Japan, the impending shutdown of the – Atlantic meridional overturning circulation (Amoc) – among other happenings is telling us that things are changing for the worse. Clearly long-term weather trends are open to interpretation because the available data is sketchy the…

Economics and business correspondents regularly serve as apologists for poor policy. Their motivation is to file a story and often they take the easy way out by paraphrasing press releases put out by some conservative think tank, or economist, or corporation without any critical scrutiny being applied and then masquerade their article as opinion. The…