John Quiggin

Quick quiz. Suppose you read a headline in the online version of the Wall Street Journal (or NY Times etc) stating that, from now on, US Treasury bonds would be redeemed in crypto. Would your response be (i) That’s absurd. Either it’s April Fools Day or someone has hacked the website (ii) That’s unlikely. Surely [1] Wall Street will be able to kill this crazy idea (iii) That will be tricky. Which cryptocurrencies will be included and what will be the exchange rates? If your...

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here. Share this:Like Loading...

This is a follow-up to my previous post on the end of US democracy and its implications. Here I will discuss how what’s left of the democratic world can respond. Surprisingly in many ways, the military part of dispensing with the US is the easiest bit, in each of its major areas of operation: Europe, Taiwan, and the broader Asia-Pacific region including Australian and New Zealand. As regards Europe, NATO would be massively stronger with the US (100 000 troops in Europe)...

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here. Share this:Like Loading...

My latest from The Guardian =With the resumption of parliament this week, and an election only months away, we have seen even more of the usual point-scoring about the cost of living, tax breaks for long lunches and budget deficits. But since the return of Donald Trump to the White House, the assumptions on which Australian economic policy have always been based are obsolete. We must ditch the illusion that the US will return to normal and instead become more self-reliant With...

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here. Share this:Like Loading...

“The cemeteries are full of indispensable people.” In one form or another, this observation has been made many times over the last century or more. What is true of people is true of nations. In the past 25 years or so it was often claimed (and , admittedly, often denied) that, in the modern world, the United States was the “indispensable nation”. Whatever the rights and wrong of this claim, it has become obvious that, whether we like it or not, the rest of the world will now have to...

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here. Share this:Like Loading...

As usual, 26 January has been marked by protests, denunciations of those protests, and further iterations. Even apart from the fact that it marks an invasion, the foundation of a colony that later became one of Australia’s states isn’t much of a basis for a national day. A logical choice would be the day our Federation came into force. Unfortunately for this idea, our Founders chose 1 Jan 1901. The first day of the 20th century[1] must have seemed like an auspicious choice for a...

I’ve already said all I plan to (for now) about what’s happening in the US. But if others want to discuss it, here’s an open thread. Share this:Like Loading...