MMT Portugal

Monday's blog post (10/11) is now posted (13:46 Kyoto Time) - IMF comes late to the party but then cannot quite admit it - billmitchell.org/blog/?p=62882 #mmt

«Our first key finding is that we uncover substantial declines in employment for early-career workers (ages 22-25) in occupations most exposed to AI, such as software developers and customer service representatives»

Hundreds of dolphins found dead in Amazon lake were in water hotter than a jacuzzi, study finds "You couldn't put your finger in the water," said the lead author of the study, which spotlights the impacts of planetary warming on aquatic ecosystems.

New study finds “brutal drought and extreme heat wave that began in September 2023 transformed the lake into a steaming cauldron. The lake's waters reached 41C (106F).” 😱

The Modern Money Lab Economics of Sustainability January series this year will feature the following academics - Pavlina Tcherneva, Stephanie Kelton, John Harvey, Scott Fullwiler, Tim Foxon and Phil Lawn.

More details soon or from steven.hail@torrens.edu.au.

Do come along.

YouTube video by ICTA-UAB Giorgos Kallis: "Political Ecological Economics and the nature of economic growth"

⚠️Missed Giorgos Kallis’ seminar this week?

⏯️You can now watch it on our YouTube channel 🎥

🗣️In this talk, he sketches a Political Ecological Economics — blending ecological insights from the Barcelona school with feminist, decolonial, and Marxist perspectives.

👉 www.youtube.com/watch?v=tJw7...

The word "growth" is a core term in the language of climate politics. As we just saw, climate economists estimate the costs of climate damages relative to the amount of economic growth they project into the twenty-first century, and by and large they assume that such growth will continue no matter how hot and chaotic the planet gets. Their belief in a future of continued economic growth enables another idea sometimes used to justify sustaining the fossil- fuel economy: the idea that economic growth is itself a climate-change solution, a form of environmental protection that will shield the prosperous from climate devastation. This belief is so bipartisan, so ubiquitous, that it's not quite accurate to call it propaganda. It's best understood as a *myth*. This myth is often taken for reality by both fossil-fuel partisans on the right and climate-conscious progressives on the center-left.

Today feels like a good day to remind everyone that there is literally no empirical evidence that economic growth will just continue if the world heats up to, say, 3°C by 2100.

Continued growth is just *assumed* in every economic model of the relationship between temperatures and growth.

🧵

Solar geoengineering in wrong hands could wreak climate havoc, scientists warn Blocking the sun may reduce global heating – but ‘rogue actor’ could cause drought or more hurricanes, report finds

Let me rephrase that

Solar Engineering in the RIGHT hands could wreak climate havoc

JUST SLASH EMISSIONS!

www.theguardian.com/environment/...

Monday's blog post (03/11) is now posted (14:11 Kyoto Time) - Supply-side employment services models fail and promote sociopaths - billmitchell.org/blog/?p=62873 #JobGuarantee

Thursday's blog post (30/10) is now posted (17:14 Kyoto time) - Japan – errant fiscal rule is sure to backfire - billmitchell.org/blog/?p=62871 #mmt

Gen Z no longer believe working hard will lead to a better life, survey shows - A growing sense of inequality is undermining trust in both society’s institutions and capitalism, according to a long-running global survey. The 2020 Edelman Trust Barometer – now in its 20th year – h...

“Since we began measuring trust 20 years ago, economic growth has fostered rising trust. This continues in Asia and the Middle East but not in developed markets, where national income inequality is now the more important factor.” reuternews.online/gen-z-no-lon...

Monday's blog post (27/10) is now posted (15:56 Kyoto Time) - Japan challenges – is there really a labour shortage? – Part 6 - billmitchell.org/blog/?p=62856

We are still obsessed with growth for the sake of growth. Meanwhile, our climate system is breaking down and our economic systems are organised neither to deal with this nor to ensure economic security for all and social well-being.

It is time to change our economic thinking.

We wish #MMT founder Warren Mosler all the very best, with his plans to launch the USVI Green Party.

Oil firm TotalEnergies made misleading green statements, court rules French multinational is ordered to remove its website messages about aiming for carbon neutrality

Merci beaucoup to the French court for smacking down the greenwashing merde of TotalEnergies, the 7th biggest corporate fossil fuel polluter who just announced plans to expand gas production.

It's the first time France's Greenwashing law has been used against a fossil fuel company.

Sooner or later we, humans, are going to get us all killed.

Thursday's blog post (23/10) is now posted (12:47 Kyoto time) - Japan challenges - is there really a labour shortage? - Part 5 - billmitchell.org/blog/?p=62852

All those pictured, running this event in Canberra, are current or past students of Modern Money Lab - great to see.

Monday's blog post (20/10) is now posted (17:01 Kyoto Time) - Japan - where will the productivity growth come from? - billmitchell.org/blog/?p=62842

Maybe allow parents to be parents would be a nice idea. Just saying.

Preço das casas atinge novo máximo em setembro Este é o maior aumento homólogo de sempre, registado em setembro, no mercado habitacional

Portugal, the disaster continues: it's the first time since 1988 that house prices rise above 22% in 1 month expresso.pt/economia/eco...

Selon un rapport de la Commission européenne, les logements au Portugal sont parmi les plus surévaluées Un nouveau rapport de la Commission européenne publié mardi montre que les prix de l'immobilier au Portugal sont parmi les plus élevés d'Europe. Le tourisme et la crise du secteur de la construction e...

Portugal: the real estate crysis on French language. fr.euronews.com/business/202...

The surveillance empire that tracked world leaders, a Vatican enemy, and maybe you We uncovered a massive data trove. It revealed the hidden world of First Wap, whose untraceable tech has targeted politicians, journalists, celebrities, and activists around the globe.

1/Stop everything and read/watch/bookmark this massive investigation between @motherjones.com @lighthousereports.com Le Monde, Der Spiegel, Paper Trail Media a vast global surveillance empire used to target politicians, journalists, tech CEOs, and... Jared Leto.
ow.ly/2LUF50Xb7KE

"Right this minute there is some 35-year-old dying right now trying to get his breath," said United Mine Workers President Cecil E. Roberts. "This is the worst form of death one can imagine. We put people in prison for life for murdering people with a pillow holding it over their face until they are dead. Right now those responsible for a lack of action, those responsible for challenging this rule, those who could do something who are not doing something, you are just as guilty as the person who has that pillow right now." Miners across the U.S. are contracting black lung at younger ages, with the highest rates - 1 in 5 miners - occurring in areas like coal-rich Appalachia that have seen decades of heavy extraction, according to federal data. Health experts have reported seeing miners in their 40s, 50s, and even in their 30s with advanced stages of the diseases caused by dust that's churned up when mining equipment cuts, crushes and grinds rock to reach ore or coal seams. Exposure to silica, which is 20 times more toxic than coal dust, can lead to incurable and debilitating lung disease, including silicosis, lung cancer and black lung.

The Trump regime is pushing coal, but refusing to enforce a Biden-era rule that would prevent more than 3,700 cases of Black Lung disease, which gives coal miners a slow, suffocating death.

But Trump doesn't give one thought to coal miners.

He's for fossil capital, not for Americans at all.

www.telegraph.co.uk/business/202...

The AI Bubble Is Far Worse Than We Thought 2008 who?

www.planetearthandbeyond.co/p/the-ai-bub...

‘Dismal’ health of world’s forests is threat to humanity, report warns Financial institutions pouring money into land clearance and undermining efforts to stop destruction, says Climate Focus

We have known this for several decades

But knowing means nothing to those who care nothing for the natural world, our climate, or our future

The lungs of the world (along with plankton) are dying

www.theguardian.com/environment/...

Head of largest US bank warns of risk of American stock market crash Jamie Dimon, chair of JPMorgan Chase, said he was ‘far more worried than others’ about serious market correction

www.theguardian.com/business/202...

When inflation rises policy makers administer "harsh medicine" on workers, putting them out of work and curbing their spending by whacking up interest rates. But what if that inflationary spiker solely benefits corporates and the wealthy?
bsky.app/profile/greg...

Bank of England warns of growing risk that AI bubble could burst Possibility of ‘sharp market correction has increased’, says Bank’s financial policy committee

www.theguardian.com/business/202...