Cosmic Inflation: How It Gave the Universe the Ultimate Kickstart

Space.com has the article Cosmic Inflation: How It Gave the Universe the Ultimate Kickstart (Infographic).

In 1980 astrophysicist Alan Guth proposed the idea of cosmic inflation, a kind of repulsive gravity that pushes things apart rather than attracting them. Inflation caused an explosive scaling-up of space-time a tiny fraction of a second after the Big Bang. In another fraction of a second, inflation slowed to a more leisurely expansion that continues to this day but is accelerating.

I am hoping this infographic will answer a lot of questions I have about general relativity and inflation/expansion.

There are still a lot of questions, but there are answers I have never dreamed of. Here is one in WikiPedia – Comoving and proper distances.

The integral below is formatted a little strangely, but if you read the description of the variables, you can make sense out of it. The a(t’) belongs under the c, not under the dt’.


Michael Hudson: How an “Act of God” Pandemic Is Destroying the West

Naked Capitalism has published the article Michael Hudson: How an “Act of God” Pandemic Is Destroying the West: The U.S. Is Saving the Financial Sector, Not the Economy.

When reading this article always remember that Hudson is talking about private debt owed by money users. This does not apply to public “debt” owed by money creators like the Federal government. In the USA, there are no money creators like the Federal government. Only the federal government can create money.

China is using an age-old policy common ever since Hammurabi and other Bronze Age rulers promoted economic resilience in the face of “acts of God.” Unless personal debts, rents and taxes that cannot be paid are annulled, the result will be widespread bankruptcy, impoverishment and homelessness. In contrast to America’s financialized economy, China has shown how natural it is for society simply to acknowledge that debts, rents, taxes and other carrying charges of living and doing business cannot resume until economic normalcy is able to resume.

What angers our oligarchs so much about China is that China can figure this out, but our oligarchs hate this solution because it works.

If we can’t take our blinders off to see the obvious, our downfall is nobody’s fault but our own.


Jackson Hole: Fed Chair Powell unveils effort to target ‘moderately’ higher inflation

Yahoo! Finance has the story Jackson Hole: Fed Chair Powell unveils effort to target ‘moderately’ higher inflation.

Federal Reserve Chairman Jerome Powell unveiled a new framework of thinking for the central bank that will tolerate inflation “moderately” above its 2% target. The Fed also committed to reviewing this policy every five years.

It would help if Powell understood how to create inflation before he tells us he is going to try to create it. Of course, the Fed perfectly well understands how to create inflation in the stock market, just not in the consumer price index.

Might the Fed ask itself, what did we do to cause inflation in the stock market that we might learn to apply to the consumer market? It might flash through their minds that they created $10 Trillion dollars to bail out the banks and Wall Street. The people they gave that money to tend to buy stocks. If they could conceive of giving that kind of money to consumers, then those consumers might actually want to consume consumer goods, thus raising inflation in the Consumer Price Index.

It’s amazing how experts can retreat into their think tanks to think deeply about a subject, and yet miss the obvious answers they pretend to be looking for.


How Do Banks Create Money?

Naked Capitalism has posted the article How Do Banks Create Money?

How do banks create money? Banks can create money easily but how safe is it for them to do so and can they go bust?


I would argue that we stop saying private banks create money and just say that private banks create promises of money. The difference between what private banks create and what the central bank creates is that the central bank only promises to give you what they create in exchange for what they create. Private banks promise to give you what the central banks create in exchange for what the private banks create.

Let’s stop creating confusion by using the same word for what private banks create and what the central bank creates.

I have checked this with Warren Mosler, and he hates my idea. I hope he sees this video.

Here are some of the previous posts where I have made this argument.


Economic Update: China: Capitalist, Socialist or What?

Richard Wolff has come up with a gem of an episode Economic Update: China: Capitalist, Socialist or What?

On this week’s episode, Prof. Wolff talks about the Chinese economy. China is run by a Communist Party but describes itself as socialist, while the employer/employee structure of its enterprises is capitalist. We examine what this means for (a) its place in the world economy, (b) its place in the transition from capitalism to socialism/communism, and (c) its conflict with the US.


Like many great works of analysis, this one shines. Of course it is always harder to describe solutions that don’t exist yet. I don’t fault this presentation that I find the suggested solution more iffy than the analysis of the problem.

This is only to say that I can wholeheartedly agree and learn from the analysis part. The efficacy of the solution part is still to be determined. We need to keep in mind that a different and better solution might exist, and might be found. I hope we in the world can work it out on the path to the transition.


The Empire Files: Propaganda & Engineering of Consent

The Empire Files has has the story The Empire Files: Propaganda & Engineering of Consent in two parts.

This is from 2016, but this information needs to be repeated frequently. Maybe this sill get a few more people wondering why Democrats and Republicans are pushing the phony Russiagate stories. Almost everybody seems to have bought the story that the Clinonistas made up about Russia. In the beginning there were dissenters from the Russiagate story, but there seem to be fewer and fewer of those dissenters left. Sometimes I have to remind myself of all the evidence that points to how phony the story is., and how little actual evidence to point to the possibility of any of it being true.

Part 1


Part 2


Interview with the Cooperative Development Institute

Democracy At Work posted a snippet from All Things Co-op on their Facebook post Interview with the Cooperative Development Institute. On Facebook, the following excerpt was featured in audio and slides.

Cooperatives are a form of ownership. As I often say to the business owners when they’re inquiring and exploring this idea is that cooperatives don’t run businesses. Managers run businesses. Cooperatives own businesses. They set direction for the business, they set policy for the business. You still need to have somebody in charge, or some management team in charge operationally.

Wow, this answers some of the questions I have had about co-ops. I keep listening to Democracy at Work to learn more about how co-ops function on a day-to-day basis. This is the first time I have heard this issue addressed. It was one of the major doubts that I had.

I would like to hear the context of this discussion. This is the full episode from which this snippet comes, although in scanning it, I have not found out where these ideas were mentioned.


The world’s first Covid-19 vaccine: Everything we know about Russia’s ‘Sputnik V’

RT has the article The world’s first Covid-19 vaccine: Everything we know about Russia’s ‘Sputnik V’

On Tuesday, Russian President Vladimir Putin announced that his country had registered the world’s first coronavirus vaccine, named ‘Sputnik V’.

I am not attesting to anything in this story. I am just offering an article to read that does not have an anti-Russian bias. That does not mean it is with or without other biases.

Here is the website mentioned in the article. Again, this is for you to look at with an adult mind. Don’t accept everything you read, and don’t dismiss everything you read. The first registered vaccine against COVID-19.


All Things Co-op: Interview with the Vermont Employee Ownership Center

Democracy at Work has shared the Facebook post Interview with the Vermont Employee Ownership Center.

Don’t miss the latest episode of All Things Co-op: Interview with Matt Cropp, the Co-Executive Director of the Vermont Employee Ownership Center.

Matt mainly works on conversions, but has had experiences of all types organizing different worker cooperatives and ESOPs. We discuss the work that the VEOC does, including its upcoming conference. This conversation spanned many topics and Kevin, Cinar and Larry can’t wait to have Matt back on to talk more about his work.

Listen to or watch the latest episode of All Things Co-op on Democracy at Work’s youtube channel, website or on your favorite podcast player. We make it a point to provide this show for free and free of ads. If you’re willing and able, please consider supporting our work by becoming a member of the ATC Patreon community!


This podcast adds to my understanding of the mechanisms that make co-ops work. This is an ongoing learning process for me.


Zephyr Teachout EXPOSES Bipartisan Consensus On Protecting Corporate Power

YouTube has the video Zephyr Teachout EXPOSES Bipartisan Consensus On Protecting Corporate Power

Author, Zephyr Teachout, discusses her new book, ‘BREAK ‘EM UP: Recovering Our Freedom from Big Ag, Big Tech, and Big Money.’


I knew that the courts have a really pinched view of what is wrong with concentrated corporate power. I didn’t know that the judges appointed by Ronald Reagan were responsible for this myopia suddenly afflicting our judicial system,

Either Zephyr Teachout misspoke or I misheard. The new court interpretation seems to be that if consumer prices don’t go up because of a monopoly, then consumers aren’t harmed. By what logic does the Supreme Court forget that people who are consumers are also workers? If workers’ wages and benefits are held down by monopoly market overlords, then their ability to consume is harmed. If monopoly vulture capitalists steal the pension benefits of workers, then they cannot be strong consumers. When monopoly employers cut workers’ health benefits, people go bankrupt paying medical bills. How can a Supreme Court be so blind to the reality? I guess it is hard to keep your eyes and ears open when you are being paid to keep them shut.