Ireland’s Balance of Payments showed a current account surplus of €15.8bn in Q2 2023

https://www.cso.ie/en/csolatestnews/presspages/2023/quarterlynationalaccountsandinternationalaccountsquarter22023/?utm_source=Mastodon&utm_medium=Mastodon&utm_campaign=Quarterly+National+Accounts+and+International+Accounts+Quarter+2+2023&utm_term=Quarterly+National+Accounts+and+International+Accounts+Quarter+2+2023

#CSOIreland #Ireland #NationalAccounts #BalanceofPayments #Economy #Economics #Macroeconomics #EconomicIndicators #CapitalStocks #FixedAssets
#GovernmentFinances #GovernmentAccounts #GovernmentExpenditure
#EconomicActivity #Output #ValueAdded

Gross Domestic Product (GDP) grew by 0.5% in Quarter 2 2023
https://www.cso.ie/en/csolatestnews/presspages/2023/quarterlynationalaccountsandinternationalaccountsquarter22023/?utm_source=Mastodon&utm_medium=Mastodon&utm_campaign=Quarterly+National+Accounts+and+International+Accounts+Quarter+2+2023&utm_term=Quarterly+National+Accounts+and+International+Accounts+Quarter+2+2023

#CSOIreland #Ireland #NationalAccounts #BalanceofPayments #Economy #Economics #Macroeconomics #EconomicIndicators #CapitalStocks #FixedAssets
#GovernmentFinances #GovernmentAccounts #GovernmentExpenditure
#EconomicActivity #Output #ValueAdded

Great Australian Pods Podcast Directory: https://www.greataustralianpods.com/radiommt/
#GreatAusPods #AusPods #Podcast #Podcasts #Podcasting #Australia #News #CurrentAffairs #Business #Insights #Finance #MacroEconomics #ModernMonetaryTheory #MMT @3CRMelbourne

Knowledge, power, smoke, mirrors & reality

https://relph.org/knowledge-power/

#auspol #mmt #macroeconomics #economics #neoliberalism

You might say I'm a highly specialized kind of economist. #Inflation #MacroEconomics #Murr

Early estimates indicate that Gross Domestic Product (GDP) increased by 3.3% in Quarter 2 2023
https://www.cso.ie/en/releasesandpublications/fp/fp-pgdp/preliminarygdpestimatequarter22023/?utm_source=mast&utm_medium=mast&utm_campaign=PrelimGDP

#CSOIreland #Ireland #NationalAccounts #BalanceofPayments #Economy #Economics #Macroeconomics #EconomicIndicators #GovernmentFinances #GovernmentAccounts #EconomicActivity #Output #ValueAdded

ABC Australia: "The boomers boosting inflation as the RBA lifts rates to fight it
By business reporter Daniel Ziffer"

https://www.abc.net.au/news/2023-07-27/boomers-boosting-inflation-as-the-rba-lifts-rates/102610512

Double bollocks, the 'boomers' don't exist & the inflation is 'supply inflation' caused by Covid labour shortages & oil restrictions & will not be in any way reduced by increased rates, until it drives us into recession anyway.

This is just our rulers, speaking through their compliant media to spread the propaganda notion of 'them & us', 'boomers & everyone else' in this case, divide & rule.

#economics #macroeconomics

The household saving rate was 10% in Quarter 1 2023

https://www.cso.ie/en/releasesandpublications/ep/p-isanf/institutionalsectoraccountsnon-financialquarter12023/?utm_source=mast&utm_medium=mast&utm_campaign=sectoraccounts

#CSOIreland #Ireland #NationalAccounts #BalanceofPayments #Economy #Economics #Macroeconomics #EconomicIndicators #CapitalStocks #FixedAssets
#GovernmentFinances #GovernmentAccounts #GovernmentExpenditure #EconomicActivity #Output #ValueAdded

General government surplus of €1.8 billion in Quarter 1 2023
https://www.cso.ie/en/releasesandpublications/ep/p-gfsq/governmentfinancestatisticsquarter12023/?utm_source=mastodon&utm_medium=mastodon&utm_campaign=GFSQ12023&utm_term=GFSQ12023
#CSOIreland #Ireland #NationalAccounts #BalanceofPayments #Economy #Economics #Macroeconomics #EconomicIndicators #CapitalStocks #FixedAssets
#GovernmentFinances #GovernmentAccounts #GovernmentExpenditure
#EconomicActivity #Output #ValueAdded

Multinational-dominated sectors grew by 15.6% in 2022 with all other sectors increasing by 5.6%
https://www.cso.ie/en/csolatestnews/presspages/2023/annualnationalaccounts2022quarterlynationalaccountsquarter12023finalandinternationalaccountsquarter12023final/
#CSOIreland #Ireland #NationalAccounts #BalanceofPayments #Economy #Economics #Macroeconomics #EconomicIndicators #GovernmentAccounts

Gross Domestic Product (GDP) grew by 9.4% in 2022 driven by strong expansion in multinational-dominated sectors
https://www.cso.ie/en/csolatestnews/presspages/2023/annualnationalaccounts2022quarterlynationalaccountsquarter12023finalandinternationalaccountsquarter12023final/?utm_source=mastodon&utm_medium=mastodon&utm_campaign=Annual+Nat+Accs+Intern+accs+quarterly+Nat+Accs&utm_term=Annual+Nat+Accs+Intern+accs+quarterly+Nat+Accs
#CSOIreland #Ireland #NationalAccounts #BalanceofPayments #Economy #Economics #Macroeconomics #EconomicIndicators #CapitalStocks #FixedAssets
#GovernmentFinances #GovernmentAccounts #GovernmentExpenditure
#EconomicActivity #Output #ValueAdded

Are home prices decreasing? | FRED Blog https://fredblog.stlouisfed.org/2023/07/are-home-prices-decreasing

#macroeconomics #Housingmarket

@marianisoehartono @peterrelph

I'm not talking of physically printing money, printed notes are an almost insignificant percentage of the currency in circulation, I've heard 8%.

What I am saying is that the money the government creates/spends does not originate from any previously existing currency, but is created from scratch every time by the act of government spending.

It is also unconstrained in any real way in what it could spend. It could possibly spend enough to do a Zimbabwe. There is nothing magical about the numbers of currency units in circulation at any one time that they have to be limited to.

The factor that has to be taken into account is the capacity of the economy to provide the sum of what the government wants & what everyone else wants. If that total exceeds the current possible supply, possibly causing demand pull inflation then government could spend less or try to influence private sector spending by say taxing more of maybe sell more bonds to reduce the currency in circulation by converting it into interest bearing dollars.

So the quantum of currency units at any one time has no absolute importance, only its relationship to the ability of the economy to produce everything that is desired. Government could drive us into inflation even with a Surplus or it could Deficit spend without causing inflation, it all depends on the health of the production, manufacturing & services available, not the absolute amount of currency in circulation.

Zimbabwe incidentally didn't just spend their way into hyper inflation, firstly they destroyed their production (farming) by taking it away from those who were using it so well (the farmers) & giving it to people who could not. Then they 'printed money'.

& yes, "how modern economies create money" is exactly what I've be trying to explain from my understanding of it, & it does not include taxing or bond sales or the possibility of involuntary default.

#economics #macroeconomics

@marianisoehartono @peterrelph

They finance or purchase anything they want by typing numbers into Central Bank computer terminals, same as they do every time for everything.

They may for whatever ideological reason choose to restrict the new numbers they add to some relationship with the numbers they subtract, but that is entirely arbitrary.

They can use Mickey Mouse accounting to say that we had to add these tax numbers into a spreadsheet before we could subtract them to add them as numbers to the economy again, they can also sell bonds as another smoke & mirrors trick.

Bottom line is that they have no need for money in their own currency, every dollar they spent is a new number typed into a keyboard unrelated to anything previously existing or anything they may spend later, & every dollar they tax (or any revenue) is just destroyed, erased.

#economics #macroeconomics

Ark Invest Report Reveals 70% of Circulating Bitcoin Supply Remains Unmoved for a Year - In a newly published report by the American investment management firm Ark Invest,... - https://news.bitcoin.com/ark-invest-report-reveals-70-of-circulating-bitcoin-supply-remains-unmoved-for-a-year/ #arkinvestreport #macroeconomics #bitcoinsupply #institutional #blackrocketf #arkinvest #recession #news #hodl #otc

@wall0159

All of that & the fact that the inflation is caused by a lack of supply which is not being addressed at all, we would be better off if they just admitted their inability to do anything, other than maybe support those poor people being most affected by the inflation.

#economy #inflation #MMT #macroeconomics

Question for every layman (if you are an economist don't answer, just spread the word):

The PCE price index is a measure of the prices known for capturing inflation (or deflation).

The question is: How much private house prices weigh in PCE calculation? (best guess)

#economics #inflation #macroEconomics #prices

[ABC: "Federal government reveals 'embarrassing' surplus thanks to 'barn-burning revenues' "

The Drum
/ By David Taylor

https://www.abc.net.au/news/2023-06-30/federal-government-budget-surplus-debt-revenue/102548616]

I had always assumed that this bloke & all his cronies from across the Duopoly & the Establishment & Media , his cohort of economists, were lying to us, but maybe they really are just totally incompetent.

The Australian (or UK or US or ... ) national government HAS NO MONEY, never ever has any money.

They can & do create it for us when they spend & then destroy it again when they receive it back as 'revenue' from whatever source, be it tax, bond sales, mining royalties, whatever.

They are not "swimming in money" any more or less than they always are capable of spending whatever they want on whoever they want whenever they want, subject to the ability to pass laws to that effect. They are "Sovereign" with all that implies.

Or, as affects us, the people, not spending on us.

This source from "ABC: The Drum" It is worth noting that I had never heard of the fascist "Institute of Public Affairs" until I looked into those people on the Drum talking crazy fascist nonsense.

#auspol #macroeconomics

"The King’s Fund — a leading health think tank — estimates that the multiplier effect of health spending means for every £1 spent on health, £3.60 of income is generated across the economy. Given the government gets around a third of this back in tax, this investment would effectively pay for itself."
https://morningstaronline.co.uk/article/we-need-take-tory-claim-public-investment-unaffordable
#macroeconomics #UK #healthcare #nhscrisis

L'#argent attire l'argent. Ce mécanisme économique basique du #capitalisme m'a été rappelé par l'écrivain Gogol, alors que je souhaitais me divertir avec l'un des plus beaux romans du monde 📚

Des Russes du XIXe siècle saisissent parfaitement ce phénomène économique. Pourquoi la masse de chef·fes de projet, consultant·es et expert·es d'aujourd'hui l'ont oublié? 😥

https://blog.byzline.ch/2023/06/19/accumulation-de-capital/

#macroeconomics #economie #economiepascirculaire