2021 NEW YEAR MESSAGE
Happy New Year Dear Compatriots and friends across the world.
This is the beginning of a new journey, a new chapter, a fresh opportunity to start and recover from the losses of 2020.
Going forward, we should retool our disposition to imbibe new ways and embrace new traditions.
More from Economy
The argument for deficits & debt raising interest rates in the US is not increased credit risk, it is that interest rates are a function of economic fundamentals, flows & policy. Deficits/debt change those.
I can't tell if I'm agreeing or disagreeing with @jc_econ.
Increasing government spending or reducing taxes increases demand (or reduces saving). This raises the price of loanable funds or the interest rate.
In a dynamic context, more demand means a stronger economy, the central bank raises interest rates sooner, and long rates rise.
(As an aside, we are not close to the United States needing to worry about credit risk and the risks are more overstated than understated in most other advanced economies too. But credit risk is not always & everywhere irrelevant, just look at the UK in 1976 or Canada in 1994.)
Interest rates have fallen over the last 20 yrs while debt has risen. This does not necessarily mean that debt rising causes interest rates to fall. It could also mean that other things have happened at he same time that pushed down interest rates more than debt pushed them up.
The suspects for these "other things" include slower productivity growth, slower popln growth, higher inequality, less investment, etc. All of which either increase the supply of saving or reduce the demand for investment, reducing the equilibrium interest rate.
I can't tell if I'm agreeing or disagreeing with @jc_econ.
There is no relationship b/w deficits & interest rates in the US & many other advanced economies. Centuries of dynamic institution building underpin our reserve currency status that allows rates to be a function of economic fundamentals, flows & policy not credit risk 1/3
— Dr. Julia Coronado (@jc_econ) January 26, 2021
Increasing government spending or reducing taxes increases demand (or reduces saving). This raises the price of loanable funds or the interest rate.
In a dynamic context, more demand means a stronger economy, the central bank raises interest rates sooner, and long rates rise.
(As an aside, we are not close to the United States needing to worry about credit risk and the risks are more overstated than understated in most other advanced economies too. But credit risk is not always & everywhere irrelevant, just look at the UK in 1976 or Canada in 1994.)
Interest rates have fallen over the last 20 yrs while debt has risen. This does not necessarily mean that debt rising causes interest rates to fall. It could also mean that other things have happened at he same time that pushed down interest rates more than debt pushed them up.
The suspects for these "other things" include slower productivity growth, slower popln growth, higher inequality, less investment, etc. All of which either increase the supply of saving or reduce the demand for investment, reducing the equilibrium interest rate.
Priyamvada Gopal is part of a class of elite academics in the imperial core who teach the ruling class, and use woke radlib rhetoric to justify current Western imperial aggression.
She echoes propaganda against Syria, Iran, and China and is silent about Venezuela, Nicaragua, etc
Anti-anti-imperialist Cambridge University Professor @PriyamvadaGopal smears opponents of the Western neocolonial war on Syria as "Assadists"
Would she ever call liberal imperialist Obama a "blood-soaked cretin"? He has exponentially more blood on
The CIA spent over a billion dollars per year arming and training "rebels" who massacred and ethnically cleansed Syrian civilians, especially religious minorities.
But anti-anti-imperialist @PriyamvadaGopal insists these CIA-backed contras are
This was elite anti-anti-imperialist Cambridge University gatekeeper @PriyamvadaGopal's response right after colonial powers the US, UK, and France bombed Syria in April 2018 on bogus lies that have since been
Of course anti-anti-imperialist Cambridge Professor @PriyamvadaGopal's is also a supporter of the neoliberal imperialist European Union -- one of the key institutions of European necolonialism
She echoes propaganda against Syria, Iran, and China and is silent about Venezuela, Nicaragua, etc
Far too much of the 'left' is into a joke version of "anti-imperialism" which denies state atrocities in the global south.
— Priyamvada Gopal (@PriyamvadaGopal) January 14, 2021
Anti-anti-imperialist Cambridge University Professor @PriyamvadaGopal smears opponents of the Western neocolonial war on Syria as "Assadists"
Would she ever call liberal imperialist Obama a "blood-soaked cretin"? He has exponentially more blood on
Let us be in no doubt: there is nothing anti-imperialist about supporting a blood-soaked cretin like Assad. https://t.co/nuzJE6xUy5?
— Priyamvada Gopal (@PriyamvadaGopal) February 21, 2018
The CIA spent over a billion dollars per year arming and training "rebels" who massacred and ethnically cleansed Syrian civilians, especially religious minorities.
But anti-anti-imperialist @PriyamvadaGopal insists these CIA-backed contras are
Deeming non-ISIS Syrian resistance CIA stooges: embarrassing, insulting and patronising
— Priyamvada Gopal (@PriyamvadaGopal) November 29, 2015
This was elite anti-anti-imperialist Cambridge University gatekeeper @PriyamvadaGopal's response right after colonial powers the US, UK, and France bombed Syria in April 2018 on bogus lies that have since been
Am truly glad that a lot of people are 'holding Syria in their thoughts' since last night. Was there a reason they weren't being 'held in your thoughts' since 2011 when Assad crushed a popular uprising and kept bombing his own people with Russian assistance?
— Priyamvada Gopal (@PriyamvadaGopal) April 14, 2018
Of course anti-anti-imperialist Cambridge Professor @PriyamvadaGopal's is also a supporter of the neoliberal imperialist European Union -- one of the key institutions of European necolonialism
Worth your realising that over this, over Syria, over Brexit, you are swiftly losing enthusiastic support we once offered you
— Priyamvada Gopal (@PriyamvadaGopal) November 9, 2016
