Milton Friedman had a theory that the wealth of a nation was determined by the amount of money and the velocity of that money. In other words, if we exchanged money more quickly we’d all be better off. Phil Dobbie asks Professor Steve Keen if Friedman’s theory is correct and, if so, why doesn’t government policy focus on speeding up money?
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US dollar and bond yields continue to rise, till when?
Bond yields continue to rise globally, with NAB’s Skye Masters saying the Fed and other central banks are working hard to convince markets that interest rates will stay higher for longer. Meanwhile the Bank of England promises a significant response to the unease of the last few days, but not till November.
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The Poojogger and pissed off meteorologists
Australia is intrigued by the case of the poojogger – the late night athlete who never makes it home before needing the toilet.
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Beige Book highlights ‘brisk rise’ in input costs
The Beige Book suggests price pressures are getting worse says NAB’s David de Garis. The demand side of the economy is strong, but can the supply side keep up? It makes Friday’s non-farm payrolls numbers all that more important.
