Economics

Discount retailer says low-income households feel more ‘financially constrained’ than six months ago

Paywall removed: https://archive.is/SLMtR

This stuff was posted on two sites:

• Ryan Grim & Jeremy Scahill’s new Drop Site
• Matt Taibbi’s Racket News

I haven’t gone through all the content yet, but over the last ~6 years I’ve come to take Jeffrey Sachs at his word, moreso than Naomi Klein. He’s been consistently what he appears at face value.

• Ryan Grim: Jeffrey Sachs: A Front Row Seat to the Cold War That Never Ended
• Matt Taibbi: What I Got Wrong About “Shock Therapy”
• Ryan Grim & Emily Jashinsky interview Matt Taibbi & Jeffery Sachs: A True Shock? Economist Jeffrey Sachs Reveals Secret at Heart of U.S.-Russian Relations (YouTube video)

It appears that Senator Elizabeth Warren was spot on in her assessment of the lack of a backbone for Federal Reserve Chairman Jerome Powell when it comes to raising capital requirements on the powerful megabanks on Wall Street.

Powell doesn’t lack backbone. The private banking cartel largely runs the Fed, and he’s their elected capo. The Fed is a racket.

https://archive.is/Ch4W5

https://archive.is/rvudP

That is what happens when you slash taxation on the richest and allow inequality to explode. Your economies die, and your children don’t eat, and they wear thick jumpers, as I did, in the winter, and they shiver, with their families, in cold homes.

Meanwhile, someone like me will be sitting in a skyscraper, just a 15-minute walk away, betting on it, and that person will become a millionaire.

Then they’ll retire and they’ll buy a luxury apartment, overlooking a marina, and they’ll sit on a huge sofa and eat porridge, and they’ll watch the budget, and they’ll cry.

And in the houses down the road, the mom doesn’t eat, and she hopes the children don’t notice. But they do.

https://archive.is/xSkb1

cross-posted from: https://jorts.horse/users/fathermcgruder/statuses/113008342518705813

Instead of price controls to prevent gouging, why doesn't the government build up reserves and stockpiles?

#economics #HarrisWalz #PriceControls #gouging

@crosspost

Paywall removed: https://archive.is/W4JHS

Paywall removed https://archive.is/cbtbh

Paywall removed: https://archive.is/2f1VY

https://archive.ph/09Uxw

Two economic papers presented at the ECB forum in Sintra drew criticism for their questionable conclusions on the causes of inflation.

The first paper attributed inflation primarily to demand shocks, contradicting widely held views and empirical evidence pointing to significant supply-side factors.

The second paper, while offering valuable insights into past interest rate cycles, used the same flawed methodology and also arrived at implausible results.

Another paper, analyzing geopolitical shocks and inflation, underestimated the impact of the Russian invasion of Ukraine on global inflation. The UK's new chancellor, Rachel Reeves, faces a challenging economic landscape, as indicated by a chart showing the UK's unfavorable economic indicators compared to 1997.

https://archive.ph/SMhkZ