Useful short summary of Strauss & Howe's generational theory, chiefly The Fourth Turning, and Steve Bannon's interpretation of its implications for America and the world. Financial SenseThe Apocalyptic Vision of Stephen K. Bannon Stratfor
Read More »Tom Luongo — Russia Turns to Cryptocurrencies to Counter US Sanctions
In essence, by the end of 2018, cryptos will be trading on the Moscow Exchange and integrated into the banking system to stand beside stocks, bonds and other derivative assets. Russia InsiderRussia Turns to Cryptocurrencies to Counter US Sanctions Tom Luongo
Read More »Brian Resnick — Psychologists surveyed hundreds of alt-right supporters. The results are unsettling.
This view is what enabled slave holder and slave breeder Thomas Jefferson to write, We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the Pursuit of Happiness. That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed…. In Jefferson's day in the US, many assumed (believed) that only...
Read More »Putting an End to the Rent Economy — Vlado Plaga interviews Michael Hudson
Interview with Vlado Plaga in the German magazine FAIRCONOMY, September 2017.VP: You are advocating a revival of classical economics. What did the classical economists understand by a free economy? MH: They all defined a free economy as one that is free from land rent, free from unearned income. Many also said that a free economy had to be free from private banking. They advocated full taxation of economic rent. Today’s idea of free market economics is the diametric opposite. In an...
Read More »Sandwichman — Deep Structures of the Cultural Marxism Myth
Jeet Heer has posted a timely and excellent essay at New Republic titled "Trump's Racism and the Cultural Marxism Myth." In his essay, Heer recounts much of the background to the Higgins memo that I have documented here, here and here. Heer credits William S. Lind as the major popularizer of the myth, as have I in my blog posts. What I'm posting here extends the analysis and reveals significant background about personnel and timelines to the story.... There is a subtext to this that one...
Read More »Brian Romanchuk — Primer: Money Neutrality
Short simple summary of the meaning of "money neutrality." Money neutrality is a key piece of conventional (neoclassical) economics. Keynes rejected money neutrality in a modern monetary production economy. Money neutrality is also foundational to monetarism based on the quantity theory of money.Bond Economics Primer: Money NeutralityBrian Romanchuk
Read More »Quartz — The best city to live in the world is Melbourne in Australia
CountryCityRankAustraliaMelbourne1AustriaVienna2CanadaVancouver3CanadaToronto4CanadaCalgary5AustraliaAdelaide6AustraliaPerth7New ZealandAuckland8FinlandHelsinki9GermanyHamburg10QuartzThe best city to live in the world is Melbourne in AustraliaLianna Brinded
Read More »Leonid Bershidsky — Piketty Zeroes In on Putin’s Pain Point
Russian ex-pat Leonid Bershidsky is blowing holes through Western narratives that are out of touch with Russian reality and heavily influenced by Western russophobia. This raises the question of whether the current Western sanctions against Russia strike at the heart of the Russian system or merely pretend to do so. Since the sanctions were introduced, no Western government has made a meaningful effort to investigate the provenance of hundreds of billions of dollars in Russian offshore...
Read More »Pam Martens and Russ Martens — Corporate Media Continues to Pump Out Fake News on Wall Street Crash of 2008
When there is an epic financial crash in the U.S. that collapses century old Wall Street institutions and brings about the greatest economic collapse since the Great Depression, one would think that the root causes would be chiseled in stone by now. But when it comes to the 2008 crash, expensive corporate media real estate is happy to allow bogus theories to go unchallenged by editors. What is happening ever so subtly over time is that the unprecedented greed, corruption and unrestrained...
Read More »Peter Cooper — Short & Simple 16 – The Expenditure Multiplier and Income Determination
Spending out of income is called induced spending. Equivalently, it is known as ‘endogenous’ spending. This kind of spending rises and falls roughly in line with income. When income rises, households consume more. When income falls, they consume less. Because some spending is induced, an initial act of autonomous spending will cause a multiplied increase in new spending and new income. This is known as the expenditure-multiplier effect.... heteconomistShort & Simple 16 – The...
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