New UK PM plans tax cuts and energy subsidies, but markets fear debt blowout; Pound slumps to new lows and interest rates spike; Europe braces for winter without any Russian gas
We trust that the significance of the inevitable outcome of Liz Truss’s quite necessary social spending and her simultaneous and gratuitous planned tax cuts for the wealthy will not be lost on Christopher Luxon
Are we still looking to "grow the economy" or have we finally got to the point of understanding that infinite growth in a finite planet isn't possible? Or do we have to suffer a bit more before we take to the streets and demand change?
I wonder how do the Jackson Hole folk see their role in all this. Have you started reading 'The Ministry For the Future' by Kim Stanley Robinson yet Bernard? I've recently passed a chapter where they are trying to get Central Bankers to assist from point of view of climate change but they wont shift from their rules. Its fiction, of course, but ... Also how do the Jackson Hole folk see banks role in relation to speed of growing inequality?
"A well-designed net wealth tax can raise revenue and tackle inequality, argues the FT's Martin Sandbu. But critics say a wealth tax is hard to value, unfair to savers and inefficient. Welcome to Free Lunch on Film where unorthodox economic ideas are put to the test. "
Don"t worry, it"s "transitory"
Climate change snow falls in Christchurch this morning.
In other news European energy refugees applying for NZ visas.
We trust that the significance of the inevitable outcome of Liz Truss’s quite necessary social spending and her simultaneous and gratuitous planned tax cuts for the wealthy will not be lost on Christopher Luxon
Are we still looking to "grow the economy" or have we finally got to the point of understanding that infinite growth in a finite planet isn't possible? Or do we have to suffer a bit more before we take to the streets and demand change?
So the UK can basically start reissuing 1970s The Giles cartoons?
https://en.wikipedia.org/wiki/Giles_family
Bernard, do you have a link for the Michael Every quote? I'd like to read the rest of what he said/wrote :)
I wonder how do the Jackson Hole folk see their role in all this. Have you started reading 'The Ministry For the Future' by Kim Stanley Robinson yet Bernard? I've recently passed a chapter where they are trying to get Central Bankers to assist from point of view of climate change but they wont shift from their rules. Its fiction, of course, but ... Also how do the Jackson Hole folk see banks role in relation to speed of growing inequality?
#wealthtax #tax #revenue
'Why we need a wealth tax' | Free Lunch on Film
https://www.youtube.com/watch?v=kHeYDHIeIBY
Financial Times
"A well-designed net wealth tax can raise revenue and tackle inequality, argues the FT's Martin Sandbu. But critics say a wealth tax is hard to value, unfair to savers and inefficient. Welcome to Free Lunch on Film where unorthodox economic ideas are put to the test. "