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from Lars Syll What guarantee is there … that economic concepts can be mapped unambiguously into mathematical concepts? The belief in the power and necessity of formalizing economic theory mathematically has thus obliterated the distinction between cognitively perceiving and understanding concepts from different domains and mapping them into each other. Whether the age-old problem of the equality between supply and demand should be mathematically formalized as a system of inequalities or...

2008 type of collapse: Lowest ever: Saudi OSPs are still at premiums to fair market value, and the price trend is still up. If it keeps going all heck breaks loose: The President threw the strategic petroleum reserve at it, and lots of other nations did the same, to no avail. And the calendar spreads in the futures market is indicating absolute spot shortages:

 by New Deal democrat Weekly Indicators for May 9 – 13 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. One measure of how the Russia-Ukraine war has been “normalized” globally, is that industrial commodity prices have declined sharply – on the order of 25% – in the past two weeks, taking back their entire sharp increase at the start of hostilities. Meanwhile, the Treasury yield curve has “normalized” somewhat more...

Οι Εκδόσεις ΚΨΜ, με χορηγό επικοινωνίας το Greek News & Radio Florida, παρουσιάζουν το βιβλίο Πιάνοντας τον Ταύρο από τα Κέρατα: Αιτίες, Συνέπειες και Προοπτικές στην Πολιτειολογία και στην Πολιτική Οικονομία του Νικόλαου Λάου (https://kapsimi.gr/). Η εκδήλωση θα λάβει χώρα στο Αμφιθέατρο «Ιωάννης Δρακόπουλος» του Κεντρικού Κτηρίου του Πανεπιστημίου Αθηνών στα Προπύλαια, είσοδος από την οδό Ρήγα Φερραίου, την Τρίτη 17 Μαΐου 2022, ώρα 7:00 μ.μ. Ομιλητές: κ. Νίκος...

from Luiz Alberto Vieira and current issue of RWER Introduction The current moment seems favorable to debate and potential reconsideration of theoretical systems, a situation derived both of developments in the analysis of public financing and the nature of money, but also, largely, due to the particular political and social circumstances observed in many countries. US hegemony is in crisis, as its industrial might decreases and is put in question by China’s development. The Asian country...

At the end of The Thirty-Nine Steps (the John Buchan novel that largely created the spy thriller genre), the hero is about to give the signal for arrest of a ring of German spies. But their pose as ordinary middle class Englishmen is so convincing that they persuade him to join them as a fourth for bridge. Fortunately, a sudden movement alerts him to their true identity and he comes to his senses, blowing his whistle to call in the waiting police. I’m reminded of this whenever I...

This is the automatic fiscal stabilizers doing their thing to slow things down during a recovery, and they keep increasing the pressure until growth goes negative. Additionally, with some $30 trillion of public debt, an 8% increase in prices means the value of the public debt- the net money supply in the economy- has contracted by about $2.4 trillion. This is a direct ‘removal of savings’ and functions the same as a tax on savings, thereby slowing the economy. It is...

This is an extract from Norbert Häring‘s International Health Regulations: A big step toward a health dictatorship is imminent 12 May 2022  What the U.S. has in mind here is an authorization for the WHO to immediately take the reins out of the hands of national governments in the event of an actual or alleged health risk from a pathogen and to be able to determine the assessment of the situation and the countermeasures. The US and their allies in this, the EU and Switzerland, are home to...

My take is we’ve had a one time upward adjustment in prices due to increased costs from Covid-related supply issues, along with supply side disruptions from the Trump/Biden tariffs. Prices seem to have begun to level off and go sideways, which would mean CPI increases returning to the lower, pre-Covid monthly increases: However, if energy costs don’t level off and instead rise dramatically, CPI will be dragged upward as well: