The Macro View – Health, Economics, and Politics and the Big Picture. What I Am Watching Here And Abroad.

July 28, 2022 Edition-----Sadly the war drags on, Biden seems to be pretty impotent on most policy fronts and the US seems to be heading into a recession. Not good,In the UK the choosing the next PM is off and running as the country and Europe are cooling down after a heatwave (for them) of biblical proportions!In OZ Parliament is meeting which is when the rubber will really hit the road as a new virus wave runs out of control still! We need to do more to control it as we realise just how bad long COVID is!-----Major Issues.-----https://www.afr.com/policy/economy/how-a-nobel-laureate-got-australian-economists-offside-20220716-p5b24hHow a Nobel laureate ruffled a few feathers in AustraliaRonald Mizen Economics correspondentJul 17, 2022 – 2.22pmNobel laureate Joseph Stiglitz has never been afraid of expressing heterodox views about economics that leave mainstream thinkers perplexed – his lecture tour of Australia is no different.Shortly after arriving in Sydney, the Columbia University professor used an interview on the ABC ’s 7.30 program to question a principal foundation of Australian monetary policy.With the Reserve Bank pressing ahead with back-to-back interest rate rises to quell growing inflation, 7.30 host Sarah Ferguson asked if Australia ’s 2 per cent to 3 per cent inflation target was too low.“Will it require too much pain to the economy?” she asked.Professor Stiglitz responded: “First let me say, where did that number 2 to 3 per cent come from? It...
Source: Australian Health Information Technology - Category: Information Technology Authors: Source Type: blogs