asterisk2a + discretionary + macroeconomic   19

Tyler Cowen: "The Great Stagnation", Michael Vassar & Cowen Debate at Singularity Summit 2011
gains are harder to come by! low hanging fruit gone. [...] VISION IS NEEDED TO GET THE JOB DONE.
secular  stagnation  western  world  underinvestment  R&D  R&D  innovation  Innovators  Dilemma  rentier  rent-seeking  oligopol  oligopoly  winner  take  all  babyboomers  Generationengerechtigkeit  fairness  austerity  triple-lock  pension  pension  obligation  recovery  Super  Rich  1%  plutocracy  oligarchy  No  Representation  lobby  Career  Politicians  OAP  demographic  bubble  ageing  population  sick  population  health  crisis  economic  damage  climate  crisis  climate  change  global  warming  productivity  gap  output  gap  GDP  measurement  GNP  nominal  GDP  targeting  inflation  targeting  BRIC  creative  destruction  Mobile  Debt  Super  Cycle  servitude  servicing  service  income  tax  receipts  tax  evasion  tax  avoidance  Moore's  Law  COP21  macroeconomic  policy  microeconomic  policy  OECD  IMF  crony  capitalism  Privileged  Establishment  shareholder  capitalism  profit  maximisation  profit  maximization  shareholder  value  revolving  door  Wall  Street  squeezed  middle  class  working  poor  disposable  income  trickle-down  economics  neoliberal  neoliberalism  discretionary  spending  renewable  energy  infrastructure  investment  Smart  Grid  AI  artificial  intelligence  augmented  intelligence  Autonomous  Cars  ZIRP  NIRP  QE  New  stagnation 
april 2016 by asterisk2a
Dispatches - Low Pay Britain - All 4
living wage starts from 21? 25? // retail big! high street big! - service sector. no manufacturing ... // IT IS CORPORATE SUBSIDY - PROGRAM FOR LOW PAY! // very far from Germay model! // tax payer pays for people in high street! // Ofsted found inadequate conditions! AND SMALL MINORITY GET ACTUALLY A FULL-TIME JOB! LOL LOL LOL! // Social Market Foundation (research) found lvl2 apprenticeship adds nothing to purse over a lifetime. // its DWP policy to get young people off the paper onto other paper largely, still funded, by the gov - still adding to budget deficit. // Ofsted concerned over apprenticeships "wasting public funds" // WHAT A TORY SPIN! // retail places have shot up, and construction plummeted! the latter is harder or put through training providers ( private companies, PRIVATISATION! ). employers are not in charge. to quote one employee of a training provider "meet targets, get money in" its about the # of apprenticeships, not the quality or economic need/industry. //
apprenticeships  exploitation  Workers  Union  Trade  Union  working  poor  Generationengerechtigkeit  fairness  precarious  work  Precariat  self-regulation  minimum  wage  living  wage  low  pay  low  income  welfare  state  social  safety  net  working  tax  credit  tax  credit  housing  benefit  Iain  Duncan  Smith  DWP  spin  doctor  Positioning  Career  Politicians  No  Representation  Service  Sector  Jobs  job  creation  youth  unemployment  policy  folly  policy  error  education  policy  PR  David  Cameron  George  Osborne  industrial  policy  STEM  Manufacturing  microeconomic  policy  macroeconomic  policy  recovery  GFC  disposable  income  discretionary  spending  corporate  scandal  corporate  welfare  subsidies  subsidizing  budget  deficit  Fachkräftemangel  trickle-down  economics  neoliberalism  neoliberal  Wall  Street  profit  maximisation  shareholder  value  Ofsted  skills  gap  budget2015  free  market  Privatisation  dogma  ideology 
february 2016 by asterisk2a
James Galbraith, Kate Pickett, Branko Milanovic - Consequences of Inequality and Wealth Distribution - YouTube
free education / land value tax / higher inheritance tax / abolition of private education / more progressive taxation / combat tax avoidance and tax evasion / ... Universal Basic Income //&! New Theoretical Perspectives on the Distribution of Income and Wealth Among Individuals - youtu.be/RO8KWTb2iPM - w Joseph Stiglitz and Paul Krugman --- distinguishing between wealth and capital. ignore land (free yourself from Ricardo). land. credit. //&! David Cay Johnston: The Perils Of Our Growing Inequality - David Cay Johnston about his new book, Divided: The Perils of Our Growing Inequality. - youtu.be/ok7ZJ8mS19Y
inequality  income  inequality  Gini  coefficient  education  policy  income  distribution  income  redistribution  tax  free  income  income  mobility  social  mobility  health  inequality  gender  inequality  trickle-down  economics  neoliberalism  neoliberal  welfare  state  social  safety  net  progressive  tax  code  Super  Rich  1%  oligarchy  plutocracy  social  democracy  No  Representation  Career  Politicians  democracy  tax  evasion  tax  avoidance  Universal  Basic  inheritance  tax  financial  literacy  wealth  distribution  wealth-distribution  transferring-wealth  Thomas  Piketty  Joseph  Stiglitz  Robert  Reich  squeezed  middle  class  globalization  globalisation  Paul  Krugman  Elizabeth  Warren  austerity  fairness  Generationengerechtigkeit  fiscal  policy  economic  growth  Supply  and  Demand  Demand  and  Supply  disposable  income  discretionary  spending  credit  bubble  GFC  recovery  monetary  policy  debt  servitude  consumer  debt  household  debt  Student  Loan  debt  debt  credit  card  debt  credit  card  economic  history  macroeconomic  policy  microeconomic  policy  competitiveness  productivity  knowledge  worker  book  monopoly  oligopoly  oligopol  American  Dream  meritocracy  meritocratic  post-racial  America  free  market  freemarkets  dogma  ideology 
january 2016 by asterisk2a
Aberdeen and Edinburgh highlighted in city economies report - BBC News
No Scottish cities were in the top 10 for "low-wage, high-welfare" economies. The 2016 report - described as a "health check" for the 63 largest UK cities - focused on Chancellor George Osborne's vow to build a "higher wage, lower welfare" economy, as set out in the Summer Budget 2015. >> It argued that nearly a million new jobs had been created in cities since 2010 - but that the average salary had also dropped by £1,300 per resident. 'High-wage, low-welfare' << [...] The think tank said the two areas' ability to attract high-skilled jobs - in the oil and professional services industries for example - was the key to their success. It argued that cities with high wages had seen faster jobs growth, with employment rising by 10% since 2010, compared with 3% in low-wage cities. [...] [ Housing Crisis across the country thus ] increased housing benefit payments.
job  creation  recovery  Service  Sector  Jobs  UK  austerity  minimum  wage  living  wage  George  Osborne  neoliberalism  neoliberal  Manufacturing  macroeconomic  policy  microeconomic  policy  low  pay  low  income  tax  credit  child  tax  credit  working  tax  credit  tax  free  income  progressive  tax  code  income  distribution  disposable  income  discretionary  spending  income  inequality  income  growth  wage  growth  secular  stagnation  globalization  globalisation  borderless  flat  world  economic  history  nasty  party  Tories  Conservative  trickle-down  economics  squeezed  middle  class  precarious  work  Precariat  wage  stagnation  income  redistribution  welfare  state  social  safety  net  David  Cameron  budget2015  budget2010  Public  Services  Services  added  value  value  creation  Housing  Crisis  affordable  social 
january 2016 by asterisk2a
Börse: Warum Schwellenländer für die Kurskrise sorgen - Kolumne - SPIEGEL ONLINE
Chronisch überschüssige Leistungsbilanz [ & Over capacity for less/stagnant demand ... + biggest credit bubble (china) popped as the west can't afford more. QE and ZIRP has run it's way! ] [...] Der Grund, warum der deutsche Aktienindex weitaus mehr betroffen ist als andere europäische Indizes, liegt allein an der strukturellen Abhängigkeit der deutschen Industrie von Blasen in anderen Ländern. Anstatt auf bessere Stimmung zu hoffen, sind Anleger gut beraten, sich über den weiteren Verlauf der Schwellenländerkrise Gedanken zu machen. [...] [ Fed taper makes things more difficult to serve debt ] [...] Langfristig sind es die Gewinne und nicht die Zinsen, die die Aktienpreise treiben. //&! China (Asia/BRIC/Frontier Market) Corporate Bond Yields up - bit.ly/1Sme7fV & NPL probably too. //&! If property is biggest item of household wealth in a property bubble (UK, China, ... USA) - bit.ly/1Zpiy8M
trade  deficit  BRIC  credit  bubble  western  world  secular  stagnation  macroeconomic  policy  China  Japan  Germany  UK  USA  Brazil  commodity  prices  Oil  price  NPL  shadow  banking  shadow  economy  banking  crisis  ZIRP  NIRP  QE  QT  speculative  bubbles  property  bubble  mortgage  market  Fed  BOE  ECB  European  Union  sovereign  debt  crisis  household  debt  consumer  debt  credit  card  debt  car  loan  private  debt  corporate  debt  tax  evasion  tax  avoidance  austerity  corporate  welfare  subsidies  subsidizing  Russia  OPEC  aggregate  demand  liquidity  trap  Richard  Koo  Richardkoo  debtoverhang  balance  sheet  recession  debt  servitude  student  loan  debt  Super  Cycle  debt  bubble  student  debt  debt  monetisation  debt  monetization  student  loan  discretionary  spending  disposable  income  squeezed  middle  class  precarious  work  Precariat  working  poor  neoliberalism  neoliberal  globalization  globalisation  borderless  flat  world  trade  agreement  Hegemony  TPP  TTIP  TISA  CETA  NAFTA  Africa  South  Africa  global  trade  trade  balance  current  account  deficit  Frontier  Markets  faultlines  structural  imbalance  global  imbalances  Taper  reflate  reflation  equity  bubble  Abenomics  economic  history  India  irrational  exuberance  Robert  Shiller  inequality  Gini  coefficient  deflationary 
january 2016 by asterisk2a
Börsenabsturz in China: Der Kontrollverlust - Kommentar - SPIEGEL ONLINE
Der Börsen-Crash in China ist Symptom eines fundamentalen Wandels: Um den Wohlstand zu erhalten, muss die Regierung immer mehr Kontrolle abgeben. Die Allmacht der kommunistischen Partei gerät ins Wanken.
China  economic  history  SRD  Yuan  macroeconomic  policy  microeconomic  policy  corruption  bribery  regulation  regulators  liberal  economic  reform  economic  refugee  inequality  IMF  AIIB  World  Bank  Hegemony  PBOC  Gini  coefficient  social  safety  net  Services  Public  Services  discretionary  spending  disposable  income  pension  scheme  pension  pension  fund  asset  allocation  capital  allocation  ZIRP  NIRP  QE  credit  bubble  QT  monetary  policy  fiscal  policy  shadow  banking  NPL  2015  2016  shadow  economy  demographic  bubble 
january 2016 by asterisk2a
The roof is being fixed but beware the house crashing beneath it | Business | The Guardian
Consumer spending is driving economic growth but household debt and the house price-income ratio is at a record high. Be afraid [...] It is worth recalling that when Osborne became chancellor five and a half years ago that he had two big objectives. The first was to repair the hole in the public finances, which is still very much a work in progress. The other was to shift the centre of gravity of the economy back towards making things for export. This remains a pipedream. [...] Despite the welcome pickup in business investment, the main driver of growth has been consumer spending, which has been boosted by low interest rates, the fall in inflation caused by lower oil prices, and a modest acceleration in earnings. [...] “not the ideal shape for the recovery” and it can say that again. The current recovery looks like all the previous recoveries. [...] “Fast-rising household debt is needed to maintain a reasonable rate of growth in consumers’ spending and GDP in a world of austerity ...
household  debt  consumer  debt  zombie  consumer  recovery  credit  card  debt  credit  card  materialism  status  anxiety  USA  UK  Super  Cycle  debtoverhang  mortgage  market  Housing  Crisis  debt  servitude  NPL  property  bubble  speculative  bubbles  ZIRP  NIRP  QE  BOE  Buy-to-Let  Help  to  Buy  Scheme  Right  to  Buy  student  loan  debt  debt  bubble  student  debt  private  debt  economic  growth  GFC  fiscal  policy  austerity  industrial  policy  underinvestment  productive  investment  competitive  competitiveness  George  Osborne  dogma  ideology  neoliberalism  neoliberal  David  Cameron  Tories  nasty  party  Conservative  economic  history  energy  policy  energy  price  STEM  Manufacturing  diversity  microeconomic  policy  macroeconomic  policy  Amber  Rudd  debt  monetisation  debt  monetization  secular  stagnation  disposable  income  discretionary  spending  squeezed  middle  class  working  poor  consumerist  consumerism  trickle-down  economics  status  symbol  market  affordable  social  budget2015  marginal  propensity  to  consume  Precariat  tax  credit 
december 2015 by asterisk2a
Homelessness figures: Nearly 100,000 children in England 'homeless' - BBC News
Nearly 100,000 children in England are living in temporary accommodation after being made homeless, new figures show. // &! More & more student start work after graduation in low pay jobs not requiring a diploma, due to current job market/job creation situation in UK! Not hitting 21k repayment threshold - bbc.in/1OU0K3H - OBR show fewer are likely to start paying than was expected when the policy was introduced, [...] freezing the loan repayment threshold - alongside other changes such as replacing maintenance grants for poorer students with loans - will significantly increase the cost of going to university. It says this risks undermining pledges by successive governments to improve social mobility, as well as raising uncertainty in students' minds over the terms of their borrowing. //&! Higher education cuts 'risk NI being left behind' - bbc.in/1gZMrgj //&! Doctors warn Tories not to cut free school meals (child poverty, food poverty) bbc.in/1LewQrn
UK  property  bubble  Supply  and  Demand  Demand  and  Supply  affordable  housing  social  housing  Gini  coefficient  Generationengerechtigkeit  generation  rent  poverty  trap  child  poverty  food  poverty  austerity  Policy  Makers  dogma  ideology  neoliberalism  neoliberal  Tories  Conservative  Party  housing  market  Crisis  housing  benefit  benefits  welfare  state  social  safety  net  bank  bailout  fairness  social  cohesion  minority  constituency  error  folly  babyboomers  social  tension  Toff  Establishment  Privileged  Entitlement  general  election  2015  election  campaign  promises  Help  to  Buy  Scheme  excess  reserves  mortgage  market  Buy-to-Let  Right  to  Buy  Buy  to  Wall  Street  shareholder  value  profit  maximisation  inequality  Funding  for  Lending  Scheme  macroprudential  macroeconomic  microeconomics  disposable  income  discretionary  spending  debtoverhang  household  debt  recovery  2015  consumer  debt  debt  servitude  private  debt  Payday  Loans  Student  Loan  Millennials  generationy  secular  stagnation  low  income  prevention  job  security  job  market  labour  market  Niedriglohnsektor  Service  Sector  Jobs  job  creation  income  mobility  social  mobility  downward  mobility  precarious  work  Precariat  working  poor  University  vocational  education  professional  education  Maintenance  Student  Maintenance  child  Allowanc 
september 2015 by asterisk2a
The new right to buy is solving 1979’s problems at today’s expense | Gaby Hinsliff | Comment is free | The Guardian
This Thatcherite policy revival fails to recognise that the main cause of the housing crisis is affordability //&! Housing bill needs radical, long-term measures to reform the market. As well as increasing supply, the government needs to use the tax system to make buy-to-let less attractive as an investment - bit.ly/1PDxWe3
Help  to  Buy  Scheme  Buy  to  Rent  Right  to  Buy  neoliberalism  neoliberal  Supply  and  Demand  Demand  and  Supply  Tories  Conservative  Party  austerity  David  Cameron  George  Osborne  dogma  ideology  affordable  housing  social  housing  UK  2015  budget2015  Generationengerechtigkeit  generation  bank  bailout  banking  crisis  bank  crisis  trickle-down  economics  Wall  Street  profit  maximisation  shareholder  value  shared  economic  interest  infrastructure  investment  underinvestment  general  election  2020  general  election  2015  election  campaign  promises  productive  investment  productivity  output  gap  commuting  disposable  income  discretionary  spending  wage  growth  wage  stagnation  income  growth  low  income  job  creation  labour  market  job  market  labour  economics  Niedriglohnsektor  squeezed  middle  class  generationy  Millennials  sovereign  debt  crisis  recovery  economic  history  household  debt  consumer  debt  debt  servitude  credit  bubble  NPL  mortgage  market  BOE  fiscal  policy  monetary  policy  macroprudential  policy  macroeconomic  policy  microeconomic  policy  Mark  Carney  financial  incentive  tax  code  distortion  Buy-to-Let 
september 2015 by asterisk2a
UK productivity lags behind rest of G7 - BBC News
"Since the economic downturn, productivity growth has slowed in most developed economies, but by more in the UK than the average." The Chancellor, George Osborne, pledged in July to take steps to encourage more long-term investment in infrastructure and by businesses to boost productivity. Howard Archer, chief UK economist at IHS Global Insight, said British productivity had been held back since the financial crisis by the creation of lots of low-skilled, low-paid jobs where productivity is limited. However, Institute of Directors chief economist James Sproule said that UK firms should focus on "agility" rather than productivity. "The economy of the future looks set to be dominated not by big companies, but by fast, agile, quick-moving and reactive ones," he said. "The firms that can respond to consumer demands most effectively and bring new products and services to market will reap the rewards."
UK  productivity  recovery  output  gap  western  world  secular  stagnation  deflationary  deflation  Niall  Ferguson  competitive  competitiveness  BRIC  education  policy  job  market  job  creation  Niedriglohnsektor  Service  Sector  Jobs  precarious  work  Precariat  working  poor  disposable  income  discretionary  spending  income  distribution  income  growth  low  income  Gini  coefficient  income  mobility  social  mobility  inequality  poverty  trap  austerity  business  confidence  business  investment  budget2015  differentiate  differentiation  vocational  education  professional  education  Future  of  Software  Is  Eating  The  marginal  cost  marginal  propensity  to  consume  trickle-down  economics  economics  of  abundance  underinvestment  infrastructure  investment  STEM  Research  R&D  labour  market  manual  labour  Tories  Conservative  Party  macroprudential  policy  macroeconomic  policy  microeconomic  policy 
september 2015 by asterisk2a
Brazil's downgrade | Authers' Note - YouTube
- 6 killer apps not yet properly installed. - // and still dependent on western world demand! aggregate demand via western consumer. // credit bubble and ZIRP/NIRP/QE has run its way largely // private sector could not pick up recovery. no appetite. same for SME SMB mittelstand. excess reserves not lend out because the horse has to drink by itself, can't make the drink. // especially when it has no means to served future credit interest payment coupons and principal repayment with no income growth! for decades. // inequality huts, middle class destoryed. - Career Politicans, Fear, polarisation, inequality, gini coefficient, zeit arbeit, leiharbeit, self-employment, working conditions, ...sozialer abstieg, squeezed middle class, ... insecurity, cloudy future, richard koo: austerity isn't helping!
Brazil  BRIC  Developing  World  China  credit  bubble  Latin  America  India  Russia  South  Africa  2015  Niall  Ferguson  NiallFerguson  recovery  GFC  QE  ZIRP  NIRP  distortion  emerging  middle  class  western  aggregate  demand  Supply  and  and  Supply  economic  history  Richard  Koo  monetary  policy  monetary  stimulus  monetary  transmission  mechanism  monetary  theory  globalization  globalisation  hunt  for  yield  FOMO  frothy  correction  equity  bubble  speculative  bubbles  speculative  speculation  property  bubble  asset  allocation  capital  allocation  hot-money  currency-war  currency  debasement  currency  war  Fed  BOE  BOJ  Abenomics  ECB  PBOC  banking  crisis  bank  bailout  austerity  UK  USA  Europe  Fiscal  Pact  Schuldenbremse  policy  consolidation  trickle-down  economics  neoliberalism  neoliberal  income  growth  disposable  income  discretionary  spending  low  income  job  creation  labour  market  wage  growth  secular  stagnation  wage  stagnation  income  distribution  Super  Rich  1%  marginal  propensity  to  consume  consumer  debt  household  debt  business  investment  business  confidence  global  trade  global  economy  global  imbalances  Structural  Impediments  imbalance  underemployed  participation  rate  productivity  output  gap  macroeconomic  policy  policy  job  microeconomi 
september 2015 by asterisk2a
Selling Off the State in China - Bloomberg View
China's latest batch of ugly data offers a stark message to President Xi Jinping: Whatever he's doing to prop up growth isn't working. Even worse than the 5.5 percent drop in exports last month was the 13.8 percent plunge in imports, indicating that domestic demand is weaker than the external sector. The good news is Xi is changing tack. Rather than just tossing more stimulus at the economy and stocks, he's redoubling efforts to reform the inefficient and opaque state-owned enterprises at the root of so many of China's vulnerabilities. In other words, Xi is finally working to strengthen China's foundations rather than papering over the cracks. The bad news is that Xi could just as easily be making things worse.
China  liberal  economic  reform  2015  credit  bubble  debtoverhang  balance  sheet  recession  deleveraging  PBOC  QE  macroeconomic  policy  microeconomic  policy  welfare  state  social  safety  net  savings  glut  public  health  care  system  disposable  income  discretionary  spending  fiscal  policy  fiscal  stimulus  monetary  policy  NPL  shadow  banking  banking  crisis  economic  reform 
september 2015 by asterisk2a
Global economic growth to slow, NIESR predicts - BBC News
'Domestic risk' While NIESR was generally upbeat about the UK economy, it believed that weak productivity would remain a challenge. Simon Kirby, an economist at the institute, said: "It's the major domestic risk." NIESR expects inflation to remain about zero until the end of the year due to low oil prices and the strong pound, but that it will return to the Bank of England's target of about 2% a year by 2017. The think-tank expects the Bank of England to finally raise interest rates in February next year. Economists polled by Reuters last month mostly expect the Bank to raise rates in the first quarter of 2016.
UK  2015  recovery  deflationary  deflation  secular  stagnation  productivity  output  gap  fiscal  policy  austerity  fiscal  stimulus  industrial  policy  George  Osborne  short-term  thinking  short-term  view  budget  deficit  current  account  deficit  David  Cameron  Tories  dogma  ideology  Career  Politicians  No  Representation  Taper  STEM  policy  folly  policy  error  Makers  education  policy  microeconomic  policy  macroeconomic  policy  globalisation  globalization  flat  world  borderless  job  creation  Service  Sector  Jobs  precarious  work  Zero  Hour  Contract  Contractor  Niedriglohnsektor  minimum  wage  living  wage  Manufacturing  added  value  value  creation  ecosystem  vocational  education  professional  education  apprenticeships  competitive  competitiveness  competitive  advantage  neoliberalism  neoliberal  Lohnzurückhaltung  disposable  income  discretionary  spending  working  poor  squeezed  middle  class  Precariat 
august 2015 by asterisk2a
UK interest rate rises - waiting for lift-off | Business | The Guardian
In 2018 – by when, bear in mind, most of the work of austerity is expected to have been done – Miles calculates that fiscal consolidation will still drag interest rates downwards by more than 0.75% compared to what would otherwise be the case. This is one of the factors explaining the (commonly held) assumption that interest rates will approach a “new normal” over the next few years that is likely to be about half as high as the 5% that prevailed pre-financial crisis. Even in the second half of the parliament this “fiscal headwind” will still be blowing strong. [...] The case for introducing more transparency isn’t mere technocratic trimming. The balance struck between monetary and fiscal policy has big consequences. There are obvious distributional implications (all else equal, mortgage holders win; savers lose). There are ramifications too for the capital allocation process, the current account, and the risk of an asset-bubble. The list goes on: the macro-mix matters.
BOE  Taper  austerity  fiscal  policy  monetary  policy  ZIRP  NIRP  QE  UK  economic  history  recovery  fiscal  stimulus  monetary  stimulus  Mark  Carney  2015  balance  sheet  recession  debtoverhang  deleveraging  savings  rate  consumer  debt  sovereign  debt  crisis  household  debt  debt  monetisation  debt  monetization  private  debt  credit  card  mortgage  market  discretionary  spending  disposable  income  macroeconomics  macroprudential  policy  macroeconomic  policy  microeconomic  policy  current  account  deficit  Makers  policy  folly  policy  error  Career  Politicians  No  Representation  short-term  thinking  short-term  view  David  Cameron  George  Osborne  IMF  OECD  Toff  dogma  ideology  neoliberalism  neoliberal  fairness  Establishment  Privileged  asset  bubble  hunt  for  yield  asset  allocation  speculative  bubbles  Funding  for  Lending  Scheme  Help  to  Buy  Scheme  housing  market  affordable  housing  STEM  education  policy  industrial  policy  globalization  globalisation  competitiveness  competitive  competition  competitive  advantage  London  Westminster  distortion 
august 2015 by asterisk2a
The escape from the balance sheet recession and the QE trap: An interview with Richard Koo - YouTube
"deflationary" is a symptom of balance sheet recession, deleveraging, debtoverhang ... of the private sector, corporate sector (& public gov sector) (to repair balance sheet). inflation of price of goods 2 live is still existent. you cant eat laptops. inflation is still present. actions of private sector, corporate sector to repair balance sheet (and even public sector, all three together) is deflationary. // UK! interesting is that consumer still borrows ie via credit card and mortgages. // question is how long UK can run such a big current account deficit. somebody has to pay for it, if not the gov with debt, then it has to be the private sector. as long as it can serve debt payments, as long as it has wage growth (increase of productivity, closing of output gap). But job creation during recovery was mostly Service Sector Jobs & self-employment. Not added value STEM. // corporate sector will not, in the long-run, pay for current account deficit w debt. &! youtu.be/EhYvaMc3f44
Richard  Koo  deflationary  book  mortgage  market  credit  card  private  debt  austerity  underinvestment  household  debt  current  account  deficit  UK  George  Osborne  David  Cameron  dogma  ideology  economic  history  economic  model  value  creation  added  value  STEM  productivity  productive  investment  infrastructure  investment  short-term  thinking  short-term  view  budget2015  public  investment  personal  investment  business  investment  economic  damage  microeconomic  policy  macroeconomic  policy  BOE  Mark  Carney  Toff  Privileged  Establishment  Tories  Conservative  Party  long-term  view  long-term  thinking  Career  Politicians  structural  deficit  Impediments  structural  unemployment  underemployed  part-time  Service  Sector  Jobs  job  creation  skills  gap  labour  market  labour  economics  Student  Maintenance  Grant  Higher  Education  policy  vocational  debt  loan  Gini  coefficient  social  mobility  income  mobility  welfare  state  poverty  trap  child  poverty  poverty  tax  code  working  tax  credit  corporate  tax  rate  child  tax  credit  tax  credit  tax  free  income  disposable  income  savings  rate  structural  imbalance  debt  servitude  ZIRP  NIRP  QE  fiscal  policy  fiscal  stimulus  monetary  policy  MervynKing  discretionary  spending  job  security  uncertainty  inequality  income  inequality  gender  inequality  propaganda  populism  media  conglomerate  manufactured  consent  skill-biased  technological  change  Funding  for  policy  gap  policy  policy  Lendin 
july 2015 by asterisk2a
Richard Koo: "Out of the Balance Sheet Recession and into QE 'Trap'" - YouTube
Released new book end of 2014. // Banks unable to lend money 2 unwilling (eligible) customers. Money remains on the private banks (&Central Banks in form of bonds) balance sheets/books & mostly allocated towards parking it overnight @Central Banks deposit facility (thus ECB put up a deposit levy, late into the game) or liquid fairly un(der)productive investment classes like gov bonds. // Companies (& people ie 4 education/housing) borrowing & investing (into the future, that is uncertain, unknown, deflationary)!? // 19:30 Even Abenomics is not working. Bc trauma towards Debt! behavioural economics: experience of debt servitude on less income, additional uncertainty & distrust! // Lowering corporate tax rate (like George Osborne) does not help. // Persistent low inflation expectations. // Taper extremely difficult: 2.5trn excess in long bonds. Unknown territory. Possibly future higher interest rates than fnd economic growth does warrant - adding to output gap & new normal.
2015  UK  USA  liquidity  trap  QE  ZIRP  NIRP  balance  sheet  recession  deleveraging  debtoverhang  Japan  Fed  BOE  BOJ  GFC  recovery  austerity  economic  history  economic  model  academia  deflationary  monetary  transmission  mechanism  M3  LTRO  TLTRO  lost  decade  lost  generation  fiscal  policy  monetary  policy  Career  Politicians  bond  bubble  equity  bubble  property  bubble  negative  real  interest  rate  deposit  levy  economic  growth  trickle-down  economics  secular  stagnation  headwinds  Great  Depression  PIIGSFB  PIGS  macroeconomic  policy  microeconomic  policy  economic  damage  behavioral  economics  zombie  banks  Abenomics  squeezed  middle  class  wage  growth  wage  stagnation  cash  flow  cash  flow  management  trust  distrust  long-term  view  long-term  thinking  sovereign  debt  crisis  debt  servitude  household  debt  debt  monetisation  debt  monetization  Super  Cycle  student  loan  debt  private  debt  consumer  debt  student  debt  George  Osborne  David  Cameron  competitiveness  competitive  industrial  policy  budget2015  business  investment  infrastructure  investment  demographic  bubble  uncertainty  Sozialer  Abstieg  disposable  income  discretionary  spending  Yen  JGB  Taper  greatrecession  USD  dogma  ideology  public  investment  short-term  thinking  short-term  view  productivity  output  gap  underinvestment  productive  investment  book  rate  private  savi 
july 2015 by asterisk2a
UK's inflation rate falls to 0% - BBC News
bit.ly/1IXuomp >> Carney: Current account deficit is a risk highlighted by FPC. UK is relying on the kindness of strangers to finance current account deficit. Household borrowing isn't driving the deficit Tighter fiscal policy is needed. Tighter macroeconomic policy is needed also. Deficit highlights importance of maintaining the attractiveness of the UK for foreign investment // &! bit.ly/1I07olT - BOE's Miles doesn't see secular stagnation in the UK [...] Carney - Health of the financial system is likely to boost productivity [really?] [...] McCafferty: Low income jobs have kept productivity low &! bit.ly/1JfaSxr - Bank is looking at the household sensitivity to rate rises [ mortgage bubble will prevent BOE to raise rates faster as demand stokes as more disposable income is spend on serving interest payments thus depressing GDP growth bc 70% of it is consumer spending ] &! bit.ly/1HtySg1
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july 2015 by asterisk2a
Macroeconomics Causes of Inequality - YouTube
"consumption drives much of the economy" // free up disposable income >> free child care, health care, limit exploitation of financial illiterate people (% interest on pay day loans, overdraft charges, dispo), public services, social services, pension contribution by state (preventing poverty at old age), tax credits for low income and children and carers, free education and vocational education/continual education - enabling to move up the ladder, // min11 - secular stagnation post GFC compared to previous recessions in terms of real household demand (balance sheet recession, debt overhang, deleveraging (debt repayment), and lack of new issuance of consumer credit I guess, too + rising income equality! lower redistribution from top to bottom (fair taxation) reduces recycling of income (freed up by policy items above) into demand. // min 18 - top 5% society (luxury, vanity, status) takes over bottom 80% society in aggregate terms of consumption. Economy driven by WHOM?! Affluent!
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may 2015 by asterisk2a

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