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Aug 13, 2016

We are now talking not only about growing inequality, but expulsion & exclusion...& this isn't creative destruction:

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Saskia Sassen

@SaskiaSassen

Aug 13, 2016

here re negative trends made invisible with "economic cleansing" of impacts --land grabs, excluded from labor market huffingtonpost.com/saskia-sassen/

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17h

Replying to

@tyillc

I am increasingly of that view. Independent central banks dont care about ordinary people & only focus on banks and hedge funds welfare. Treasury would inevitably have to given it is run by politicians who care about wellbeing and votes - this seems better way to run the show.

Thanks for the explanation, Lambeth Council. 🤔

Steve Hou (“CONSUME LESS!”)

@stevehouf

17h

Highly recommended. I wish I was able to read this book during grad school. I would’ve understood that it wasn’t me that’s insane but the macroeconomic canon that was insane. Rational expectations theory, real business cycle theory, Lucas, Prescott were members of the same cult.

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Has anyone looked into inflation as a contagion of mass psychosis? 🧵

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Andy Constan

@dampedspring

Is it plausible to believe inflation can return to target without job loss? What's the theory? I get all the bubble goods deflating. But as they do doesn't that result in chasing other goods. Anyway I dont get it. Big fiscal spend/financed with QE and wages growing

They Say Billionaires Taste Like Chicken

@DaBeaverMeister

Replying to

@SocialistMMA

Why would young people call Obama a war criminal?

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A Company Family: The untold history of Obama and the CIA | MR Online

20h

Not the Obama I thought I knew of.

mronline.org

Despite his liberal pretensions, Obama’s foreign policy was dreamed up at Langley—which should not have been surprising given his background

The US has blocked and delayed climate action in part because oil markets underpin the dollar as a reserve currency. Transitioning away from fossil fuels will weaken US hegemony. They are apparently willing to harm the whole world to preserve it.

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Monetary Policy Institute

@MonetaryBlog

A Comment on Bernanke’s Nobel Lecture

SURPRISE BLOG from THE James Galbraith: A Comment on Bernanke's Nobel Lecture

medium.com

James K. Galbraith Lloyd M. Bentsen Jr. Chair in Government/Business Relations at the LBJ School of Public Affairs The University of Texas…

My opinion is that inflation is transitory, slowdown in the growth of labour market compensation was already happening without Fed tightening and that was going to bring down CPI. The Fed is making a catastrophic error in continuing to tighten as job losses will gather steam.

But this analysis seems tailored to encourage the offload of health and care from public sector - certain assumptions are left unchallenged. For instance, that interest rate payable on govt debt is not a policy decision in govt control.

All we want for Xmas is fair pay now! Nurses picket line at St Thomas Hospital London getting massive support from passing drivers and from patients. The Tories are finished 👇🏽✊🏼✊🏼✊🏼

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Bank of England invites applications for CBDC wallet proof of concept

The tide is broken and two economists who are not funded by banks (Swati Dhingra and Silvana Tenreyro) preferred to maintain Bank Rate at 3%. Catherine L Mann ex Citibank banker preferred to increase Bank Rate by 0.75 - rate cuts coming

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5yrs & the

will recognise that not just a CBDC £, but a veritable ecosystem of special purpose currencies (inc. regional £s) will be possible & desirable. Bank of England invites applications for CBDC wallet proof of concept

coingeek.com

The Bank of England has previously revealed that it would outsource the CBDC wallet to a private company and it’s now pledging £200,000 to a CBDC wallet PoC.

Great piece on the politics of inflation management. interc.pt/3BuoHNv by

@Schwarz

theintercept.com

The Pandemic and War — Not Government Spending — Caused Inflation, According to Nobel Prize Winner

A new paper by Ira Regmi and Joseph Stiglitz has huge implications for everything about who holds power in American life.

Replying to

@Sarge986

Totally agree why would you raises rates when inflation will be below target by summer 2023 failed groupthink prevails just as it did in 2008 and 2015 when fed made errors all unanimous and wrong..

Covid = not-so-transitory adverse shock to NHS (and UK economy)? But inadequate care sector provision may be a large(r) factor? So, does this mean higher Govt borrowing (with higher interest payment burden) and/or higher taxes? What is priority, health or healthy finance?

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Ben Zaranko

@BenZaranko

The NHS has more funding and more staff than it had pre-pandemic. At the same time, across most types of care, the NHS is treating fewer patients than it was pre-Covid and is clearly struggling heading into the winter. What's going on? A thread, based on new @TheIFS research

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What is the collective noun for racists? a thread? 🧵👇

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Evans E.

#KingCharles'Angel

@jomilleweb

Did @Sistah_Space think she could just ruin the life of an 83-year old woman who did not do anything racist to her… and then get away with it?

This looks promising. WIP. twitter.com/claudia_sahm/s

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The irony is that for the abstraction to actually reflect economic reality, as it is assumed to, is if we had a purely competitive market, which we do not, and if we did, profit extraction would be pressured down to zero, which I am sure would be antithetical to capital.

Louis-Philippe Rochon

@Lprochon

The Complete Destruction of Ukraine is Unavoidable

After reading Bernanke's Nobel acceptance speech, Jamie Galbraith writes to me: "it is one of the worst things ever written in the entire history of economics."

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Sky News just interviewed an economist who was saying the true cost of public sector wage rises would be less than £10bn, not the £28bn Sunak has been saying, and that it would actually boost the economy and counter recession. So why are the Tories playing hardball over it?

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quote of the conference: 'the real expert on liquidity was Sraffa, not Keynes'. that is true but also downplays the policy-driven Keynes, what Keynes really meant from Treatise to GT is not exogenous money, but fiscal policy.

Tonight in my daughters ward I met a mum who had to get her unconscious limp baby to A&E on the bus because an ambulance was going to be 6 hours. By the time they got there his oxygen sat was 69% and he now has brain damage and seizures. She had to take her limp baby on the bus.

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Col Douglas McGregor warns about insane US policy towards Ukraine. Why so-called liberals align themselves with these far right neocon warhawks is truly mystifying.

youtube.com

United States and worldwide Geopolitics analysis.Russia Ukraine conflict latest news update with Colonel Douglas Macgregor.Interview with Andrew Napolitano, ...

this explains why public sector workers rightly asking for pay raises to restore their living standards

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JFK: "Is there any economic limit to the deficit?" Adviser recalls his answer: "I said the only limit is really inflation." JFK: “That's right, isn't it? The deficit can be any size, the debt can be any size, provided they don‟t cause inflation.” jfklibrary.org/sites/default/

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Looks like they’re just copying Labour now. ⚠️

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Onward

@ukonward

Dec 12

Today marks 3 years since the Conservatives 2019 General Election success.

With latest polls placing Labour at 47%, our report After the Fall identifies what matters to voters the most and how the Conservatives could win again.

ukonward.com/reports/after-

Latrae L. Rahming (DOC)

@latraelrahming

China Props Up Belt-and-Road Borrowers Via Unusual Channel

A Statement from the Royal Bahamas Police Force on the arrest of Samual Benjamin Bankman-Fried. Police wish to inform that 30-year-old SAMUEL BENJAMIN BANKMAN-FRIED of California, U.S.A, has been arrested.

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Key argument in government's 'Edinburgh reforms' was that reducing capital requirements would 'free up' finance to flow in to the real economy & infrastructure. In fact, around 80% UK bank lending supports finance or real estate.

"nChain is the DNA of Blockchain...the custodians of the underlying protocol of Bitcoin as it was set out in Dr Craig Wright’s AKA Satoshi Nakamoto original game-changing white paper. No other blockchain developer can claim the same."

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Christen Ager-Hanssen

@agerhanssen

Dec 10

See attached my newsletter to the wider BSV ecosystem and all its stakeholders including the most talented entrepreneurs building their business on the one and only technology that can scale and have a true social impact for society. Love you all

bit.ly/3hdXDez

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ALT

PBOC shows how to do IMF-style lending the Keynesian way - without suicidal 'conditionality' - and 'Washington Consensus' types do not like it one bit. 😅😂🤣

wsj.com

The People’s Bank of China has used currency-swap lines to support governments that borrowed heavily from Chinese banks.

Replying to

it will look like this??? hell no

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War is a racket and there's going to be hell to pay for this one Claire Daly

youtube.com

"Ukraine is reeling" - Clare Daly

"The Ukrainian state is reeling, unable to finance services its people desperately need. But billions in EU financial assistance are not free; they're loans,...