Tim Whiffen @TimWhiffen
🎙️ Podcast producer 🏴🅰️ Trying to make modern media better 📣 Opinions my own 📍 Kaurna land ♂️ He/Him/His whimsyproductions.com Adelaide, South Australia Joined January 2018-
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@dandolfa I am not sure why people still think higher interest rates are the best way of managing inflation. Interest rates simply redistribute income. They don't have much direct impact on saving or investment. They generally impact asset prices, but rate rises drive fiscal stimulus too.
Philip Lowe just got asked if he had any other tools at his disposal aside from adjusting interest rates and he got so visibly confused I burst out laughing. The member for Forde is smugly thinking the issues he is raising have absolutely nothing to do with government policy.
Unemployment edging up. The deliberate policy of the RBA and the Govt. They don't want to lose their own jobs but they are more than happy for others to do so. They don't care about the appalling level of welfare payments and they haven't introduced a job guarantee. Shameful.
The thumbnail is a snap from our wedding. Hayley is a sweet and kind friend. This is a tragic reminder that this can happen to anyone, and as I spend new year's inside with COVID myself, I implore @PMalinauskasMP not to end PCR testing, and change the narrative for our community.
The thumbnail is a snap from our wedding. Hayley is a sweet and kind friend. This is a tragic reminder that this can happen to anyone, and as I spend new year's inside with COVID myself, I implore @PMalinauskasMP not to end PCR testing, and change the narrative for our community.
In Australia during the pandemic, we abolished involuntary poverty. Then we reinvented it. Since the pandemic, we have eliminated most involuntary unemployment. Now establishment economists want it back. The easy way, in their view, to scare the employed into avoiding wage rises.
I am so so sorry to hear that the brilliant Herman Daly - founding father of ecological economics - has died. His paradigm-changing work flipped my little econ head inside out & inspired me to write a book on rewriting economics… Here are just some of his big ideas 1/n.
We are going to react to inflation driven by war, climate and pandemic by raising interest rates over and over again in the hope we can create enough unemployment and financial distress to stop poor people using energy or eating so much. Slow motion car crash economics.
Congratulations to: Rise of the Superbugs @RSuperbugs The Fact Detectives @kinderlingradio This Medical Life @DrTravisBrown for being shortlisted in the #auspodcastawards Best Education Podcast category. (2/2) View the full shortlist at australianpodcastawards.com
Re last night's speech by Philip Lowe in which he warned that rates could go much higher. Don't forget he also told us for 12 months that rates would stay where they are for 3 years, so best not to pay much attention to what he says.
Responsible... for all kinds of pain and misfortune in all likelihood. It's a good communications case study I suppose.
Responsible... for all kinds of pain and misfortune in all likelihood. It's a good communications case study I suppose.
Don't let the (perhaps celebration worthy) PoC representation in the new British Prime Minister distract you from the fact that private wealth does not equate to credentials managing public funds that work nothing like how he, you, nor I interact with it.
Quite often, reading what I think of as oversimplistic discussions of rate hikes as the cure for inflation, I am reminded of Keynes writing “Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”
Fantastic work @TimWhiffen on kicking off season 2 of the water justice podcast. Featuring @JayFamiglietti Keen to hear what everyone thinks of the new S2 format... Stay tuned! omny.fm/shows/the-wate…
Fantastic work @TimWhiffen on kicking off season 2 of the water justice podcast. Featuring @JayFamiglietti Keen to hear what everyone thinks of the new S2 format... Stay tuned! omny.fm/shows/the-wate…
I am on a train from Amsterdam to Brussels and a group of people, hearing I am British, started spontaneously offering condolences for the state of the country.
Imagine if the people keen on rate rises and austerity to counter war, climate change & pandemic had been in charge in the UK in 1940. They would have lost the war Invest public money wisely, but don't pivot to austerity. Stop monopolists exploiting this situation. Seek peace
Frankly, it’s kind of pathetic when left pundits talk about raising interest rates like a good thing that “pops bubbles” while rarely mentioning the rise of shadow banking, gutting of manufacturing, and destruction of labor that came from a high rate environment and ideology
To be clear, we need rapid electrification/ decarbonization; I call for this every day. But in the global North it must be accompanied by a downscaling of less-necessary forms of production (like SUVs), and a shift to just supply chains, or it reproduces imperialist exploitation.
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Someone asked me to stop recommending policy 'experiments'. My answer is you have been living in an experiment for 40 years. The results are financial instability, inequality, insecurity and worst of all ecological breakdown. Let's drop the alchemy and move to the periodic table.
@DrCameronMurray Given that the submarines are to be imported, the only implication if on the exchange rate and domestic price level due to depreciation, but that is not a significant risk in this case. They have no implications for the ability of the government to finance dwelling construction.
Governments everywhere have for a long time been intimidated by the dominant narrative into promoting the interests of the top 10% (or even 1%) and acting against the interests of the bottom 90% (or maybe 99%). And we collectively just let them do it.
The mistake I think Mr Albanese is making is in introducing a tiny, delayed gesture towards a fairer way of taxing super income. He will be described as engaging in class war, even tho' he is doing virtually nothing. He may as well have done something worthwhile about inequality.
@dandolfa I am not sure why people still think higher interest rates are the best way of managing inflation. Interest rates simply redistribute income. They don't have much direct impact on saving or investment. They generally impact asset prices, but rate rises drive fiscal stimulus too.
@gwabi How many times have they raised the debt limit? 78 times.
Unemployment edging up. The deliberate policy of the RBA and the Govt. They don't want to lose their own jobs but they are more than happy for others to do so. They don't care about the appalling level of welfare payments and they haven't introduced a job guarantee. Shameful.
Not all the world's leading MMT and sustainability economists are available to take on teaching assignments, but it turns out many are. What we did is to approach those we know & ask them to write and/or teach subjects for us. Turns out you end up with something special that way.
Too many podcasters hang it up because their shows don’t get discovered. We’re on it!
I just heard a Prof. of Australian studies at ANU on ABC News Radio claim if there was a downturn the Australian Govt would not have the ability to provide support. He implied they would be out of money. How do these people get academic jobs? And why do they get taken seriously?
Inflation rises due to war, pandemic and climate. Central banks start raising interest rates and keep doing so until something eventually breaks. Meanwhile, eventually the impact of war, pandemic and (temporarily) climate ends and inflation comes down. But something has broken.
Public parks are middle-class welfare. We don't need to subsidise people who won't buy their own backyards. We should fence off parks and only allow in low-income people who qualify through Centrelink. Their allowed visits should phase out if their income rises.
@nandoodles the analysis is based on some ongoing research with and @sreejan_kumar and @princeton_nlp. hopefully we'll publish something empirical soon. but in the mean time this was a fun app to make :)
I spent New Years building GPTZero — an app that can quickly and efficiently detect whether an essay is ChatGPT or human written
To save workers from the prospect of inflation the RBA wants to make workers unemployed and defaulting on their home loans.
Happy 2023 everyone! I have some exciting plans for this year, but out of interest is there anything specific that you guys would like to see? 😀