You can literally use them as a trading system.
Read More »Moving to a sustainable system of food production within a degrowth paradigm — Bill Mitchell
As the title says, the post is about "moving to a sustainable system of food production within a degrowth paradigm." The basis of the discussion is whether this can take place within the context of "capitalism." Bill argues for the position that it cannot. I have set for reasons previously explaining my agreement with this view. A major reason can be summarized as "perverse incentives." Of course, it is more complicated than that but the rubric "perverse incentives" sums up Marx's notion of...
Read More »Will the Hegemon Ever Accept a New Westphalian World Order? Pepe Escobar
Pepe Escobar reviews Prof. Glenn Diesen's new book, The Ukraine War & The Eurasian World Order. Escobar recently reviewed Emmanuel Todd's La Défaite de L’Occident (“The Defeat of the West”).The reviews are short and present views that suggest the world order is changing not only politically but also economically as a result of decolonization. This emerging trend portends to grow the pie for all albeit not without growing pains as the dominant parties attempt to maintain their...
Read More »China is ‘world’s sole manufacturing superpower’, with 35% of global output — Ben Norton
China’s state-led economic development model and robust industrial policy has transformed it into what an influential European think tank calls “the world’s sole manufacturing superpower”, making up 35% of global gross production – more than the 9 next largest manufacturers combined.…China has overseen world-historic economic growth through a government-led development model, in which state-owned enterprises control the natural monopolies and “commanding heights” of the economy, state-owned...
Read More »Fed meeting concludes tomorrow. What to expect.
Volatility for one, and rate cuts are not what you think.
Read More »Wishful thinking
It’s wishful thinking to think it’s being driven by wishful thinking…The EU's idea of the reform of the fiscal framework is unworkable in practice. It will lead to recession and crises and higher public deficits and debts. Instead of building the reform on hard science (incl. accounting & empirical observation), it is driven by wishful thinking.— Dirk Ehnts (@DEhnts) January 30, 2024 It’s being driven by a type of academic practice that doesn’t exist in the “hard sciences “…...
Read More »Anything we can actually do, we can afford — Bill Mitchell
I often make the point in talks that the fictional world that mainstream economists promote leads to poor decisions in the real world by our policy makers. We saw that in the 1980s and 1990s with the large scale privatisations of public enterprises, touted as employment-enriching, productivity-boosting strategies to provide ‘more money for government to spend on welfare’. We now have enough data to know that in almost all the examples the promises have not been fulfilled and the outcomes...
Read More »Pepe Escobar: Five Variables Defining Our Future
Pepe Escobar relies heavily on Michael Hudson's economic analysis for his five "variables."Sputnik InternationalPepe Escobar: Five Variables Defining Our FuturePepe Escobar
Read More »Remember when they said QT would crash the economy?
I told you not to worry.
Read More »Market at record, high, and sentiment bearish?
How can this be? 
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