Tag Archives: US/Global Economics

Selling Mrs. Conspicuous Consumption In Selling Mrs. Consumer, Christine Frederick shilled for progressive obsolescence, which had been advocated the previous year in an article by her husband, J. George Frederick. Or at least that is the way it seemed to her biographer, Janice Rutherford, who wrote, “she now took up and elaborated upon his theme, even using the same words…”  Even using the same words?! It is possible that Mrs. Frederick copied...

The good folks over at the National Weather Service have posted that La Nina, the ENSO negative Pacific Ocean pattern is here to stay for a threepeat. What this typically means for us in the US is that we are looking at drought. More drought. From the Texas South to the Dakota’s. This also means more rainfall in northern spots, flooding in the Ohio River Valley, much like we saw in Tennessee last year, and an uptick in hurricane activity coming...

RJS, Focus on Fracking, The Latest US Oil Supply and Disposition Data from the EIA US oil data from the US Energy Information Administration for the week ending March 4th indicated that even after a big drop in our oil exports and an increase in our oil imports, we had to pull oil out of our stored commercial crude supplies for the eleventh time in 15 weeks and for the 27th time in the past forty-one weeks because of a big increase in demand that...

The Iran Nuclear Deal And The Ukraine Invasion  At New Year’s I disagreed with forecasts made by David Ignatius that Putin would fully invade Ukraine and that the JCPOA nuclear deal with Iran would be revived. I have been proven wrong on the first matter already. As of a week or more ago, it looked like I would be about the second as well as reports had a revived deal nearly made, which I would like to see. But now it looks like it may fall...

A Footnote to IT WAS BEDLAM! Lewis Corey was a pseudonym for Louis Fraida, one of the founders of the U.S. Communist Party. In a letter to Marcuse dated August 16, 1960, Raya Dunayevskaya replied at length to his request for references to the American literature dealing with the issues of “the transformation of the laboring class under the impact of rationalization, automation and particularly, the higher standard of living.” This was in...

RJS, Focus on Fracking, Largest one-week price jump on record leaves oil prices at a 13½ year high Oil prices increased for the tenth time in eleven weeks this week, and finished at a 13 1/2 year high, after a combination of sanctions, the threat of sanctions, and threats to shipping in the Black Sea had taken more than half of Russian oil off the market . . . after ending last week up 1.5% at $91.59 a barrel after earlier hitting $100 with the...

IT WAS BEDLAM!  From The Decline of American Capitalism by Lewis Corey (1934): Capitalist production saves on labor and multiplies the productive forces. But two contradictions arise which constantly torment capitalist enterprise. Saving on labor decreases relative wages and limits the conditions of consumption. This sets in motion the forces of excess capacity, sharpened competition, and mounting distribution costs. These costs absorb much, if...

The Blindfolded Scaffolding Begins to Unfold We sense too little for the process of containment to unfold. Yet phenomenologists focus on early representations from the scaffolding for subsequent events in front of the now not-blindfolded infants. Infants looked at longer aspects of the psychoanalytic scaffolding: how reverie can be and is being a weird kind of blindfold.  Since our dynamical, reciprocal exchanges unfold and lead to changes —...

Vladimir who daren’t dismount III. Estragon is french for sunflower. How in the hell, Samuel? These days, fossils are paying good money for carbon capture stories. More for the hacks. Lord knows we’ve them aplenty. The €13 billion-plus overruns Nord Stream in a time of global warming was silly. The commitment to fossils, sillier. Being dependent on Russia, was stupid. Nord Stream II was doubling down on silly and stupid. Enough Carpe Diem. Too...

“March 5, 2022,” Letters from an American, Professor Heather Cox – Richardson Whenever something good is going down, there are nut jobs popping up making demeaning statements about what is occurring. Here is one of Trump’s acolytes taking a shot at Ukraine’s Zelensky’s courage. “Yesterday, Representative Liz Cheney (R-WY) referred to the “Putin wing” of the Republican Party when she shared a video clip of Douglas Macgregor. Macgregor was...