We got a big CPI print today, 5.0%. That’s above expectations. And, we saw a mild uptick in US Treasury bond yields on the back of the number. But I am wondering whether it really matters. Let me explain.
Since the earliest times, technologies have been a two-edged sword – literally. They cut both ways. We all remember in our Jungian collective unconscious the scene where the exceedingly useful wheel – now on the nasty armed chariot – scares the fleeing peasant. Boy, the inventor of that technology sure never intended for that to unfold.
Listen, I want to start this month with a thought piece rather than a data piece. And this is going to be a pretty long post. But I think it’s important because I plan to build on it.
In yesterday’s post, the question was this: how bad do inflationary impulses have to get – even if they’re just transitory – to matter? The Fed is telling you they have to get pretty bad for it to react. And with US Treasury bond yields sat at 1.58%, the Treasury market is telling you the same thing.
Anwar Shaikh gives a talk at the Oxford Economics Society on his argument for a general theoretical and empirical alternative to both neoclassical and post-Keynesian economics.
March 2020 was scary for most people around the world. A new and dangerous virus was afoot and uncertainty was the order of the day. As it turned out, for many of us we made a rapid pivot to working remotely and to social distancing.
Let’s veer into the political economy today, a sort of third rail of market and economic commentary. The reason I want to discuss it is the tax grab contemplated by the Biden Administration in the US.
The Henry George School of Social Science admits students of any race, color, national or ethnic origin, age, gender or sexual orientation. The programs and activities of the School are available to all students on an equal basis.