Monthly Archives: January 2022


The Antidote to the Wall is the Bridge

The Institute for New Economic Thinking has the article The Antidote to the Wall is the Bridge.

Professor Glenn Hubbard, professor of Finance and Economics at Columbia Business School, talks about his just-released book, “The Wall and the Bridge: Fear and Opportunity in Disruption’s Wake,” and how society and policymakers can help those who are left behind in the wake of today’s competitive world.


My comment to INET and on the YouTube channel was:

Glenn Hubbard is the last person you might want to go to for advice. He has been giving us bad advice for so many years. He tries to shift blame onto neo-liberalism as a Democratic Party program, when in fact if is a weak attempt of the Democrats to get some Republican votes. You give some credit to Milton Friedman who created far more problems than he ever solved. There is no recognition of the deindustrialization of the US economy in favor of financialization. There is little mention of monopolization which is what Adam Smith wanted he free market to be free of. No recognition of the Super Imperialism that the USA has engaged in since WW I. The IMF and World Bank have been destroying economies since just after WW II. The naivete displayed in this interview is so astounding to be beyond belief. In other words, I cannot believe that Glenn Hubbard is being honest with us.


Russia/Ukraine: The Donkey Turd Bomb and US Empire in Europe – How It Began, How It Is Ending

Naked Capitalism has the article Russia/Ukraine: The Donkey Turd Bomb and US Empire in Europe – How It Began, How It Is Ending.

Yves here. Nothing like an unflattering historical reference to frame an update about the state of play between Russia and the US over Ukraine. After all, the US armed services do have a certain fondness for pursuing the sort of ideas a Brit would call unsound way beyond the kicking the tires phase, see for instance, The Men Who Stare at Goats.

This and some previous posts can be traced back to John Helmer. I recognize the limitations of depending on a single source. That does not mean that the single source is not worth listening to.


Lighthearted Books to Read When Life is Hard

Book Riot has the article Lighthearted Books to Read When Life is Hard.

Perhaps you’re feeling depressed by the constant barrage of horrible news in your Twitter feed. Maybe you’re inundated at work and don’t have the fortitude to wade through a challenging book. Or possibly you’ve just read three devastating novels in a row and need a break from heavy themes. Been there, done all of that.

I just finished one of their suggestions – Crazy Rich Asians by Kevin Kwan.
I knew about the movie, which I never managed to see. The book managed to take my attention off of politics for a while. Although I could relate the subject matter of politics and economics that were relevant even if the author did or did not intend for their to be a relation.


Navigating Russia/Ukraine Warmongering Disinformation

Naked Capitalism has the article Navigating Russia/Ukraine Warmongering Disinformation.

Russian aggression in Europe is a fraud. The aggressor is the US which has ringed Russia with missiles and bases. That is the inverted reality of the relentless US/UK propaganda ‘news’. Read this and know your true enemy.

Another article to cast doubts on what you think you know for sure about the Ukraine situation. I realize that facts don’t really matter against a full court press of the CIA’s news media in the USA. These article are too long for me to read them all in one sitting per article, but I am collecting them here for later reference.

Here is the link to the article in Covert Action Magazine STRIPPING AWAY THE BULLS**T: U.S. and Russian Threats Over Ukraine—What They’re About and Who’s the Aggressor


The Ukraine crisis, sponsored by US hegemony and war profiteers

Aaron Maté has published the article The Ukraine crisis, sponsored by US hegemony and war profiteers.

The US-Russia standoff over Ukraine has sparked bellicose threats and fears of Europe’s biggest ground war in decades. There are ample reasons to question the prospects of a Russian invasion, and US allies including France, Germany’s now-ousted navy chief, and even Kiev itself appear to share the skepticism.

This is too long for me to have read all of this right now, but I have read enough to want to save the rest for later.


Ukraine and Russia: The Final Chapter

I just finished reading Michael Hudson’s book 3rd Edition: Super-Imperialism = The Economic Strategy Of Ameriican Empire. In the final chapter he gives a plausible ending for the current Russia/Ukraine/USA conflict. Let’s see how this conflict actually gets resolved.

Spoiler Alert, click here to read it.

Ultimately at issue today is how China and Russia can take the lead in creating an alternaive aimed at minimizing the cost of living and doing business. At the national level that requires rejecting financialization, its associated privatizatiion and neoliberal tax favoritism for rentiers. The objective is best met by creating a domestic monetary system and central bank policy promoting industrialization, public infrastructure investment and the upgrading of labor while taxing away rentier income. That is the opposite of U.S. demands to privatize infrastructure and sell off to rent seekers. internationally, a financial system is required that avoids the Treasury-bill standard and the resulting U.S. free lunch enabling the military adventurism and neoliberal of Dollar Diplomacy.
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The looming global fracture is becoming a fight over the most basic organizing principles of economics. All successful economies throughout history have been mixed. What U.S. Cold Warriors depict as an economic rivalry between America and China is not really a competition between national economies. It is a global conflict of economic systems. At issue is what is what kind of economy the world is going to have. Will it be a privatized, Reaganized, Thatcherized and financialized neoliberal economy organized by central planning in Wall Street, or will national governments maintain their policy independence and take take their economic and social destiny into their own hands?

The choice is between a financialized world order that aims to privatize infrastructure and create monopoly rents for credit creation, transportation, education, health care, communications, prisons and pension funding as in the United States, or a mixed economy keeping basic infrastructure in the public domain, to be subsidized so that their services can be provided at minimum cost or, ideally, freely, whil taxinb awat FIRE-sectoe rentier income instead of giving it tax favoritism.

The coming multipolar world will not be called a “Chinese century” or that of any other national economy. because the epoch of unipolar dominance is over. Perhaps it simply will be the un-American century that turned into a detour with the Great War and its long aftermath.


John Helmer: Content Analysis of Secretary Blinken at Geneva Reveals Psychopathological Incapacity to Negotiate with Russia

Naked Capitalism has the article John Helmer: Content Analysis of Secretary Blinken at Geneva Reveals Psychopathological Incapacity to Negotiate with Russia.

Tested in two hot wars, and during the Cold War, the RAND method for gauging the intention of the adversary predicts this about Blinken – he wants war with Russia; he has no mind for any alternative.

The “RAND method” is a rather shallow analysis, but the article does manage to say some things that need to be said. It is patently obvious that Blinken has an obsession with Russia that he cannot overcome. It might even turn out that the Biden administration is worse than the Trump administration. When will the Republicans impeach Biden for being too “soft” on Russia?


How (Not) to Fight Inflation

Stephanie Kelton has posted the article How (Not) to Fight Inflation

I realize this is tantamount to heresy within the economics profession, where faith in the efficacy of monetary policy runs deep. I simply don’t agree with the sentiment below, and the reasons why have been spelled out by MMT economists like myself in dozens if not hundreds of published papers.

Stephanie Kelton knows why Paul Krugman is so far off the mark, but she chooses not to make the simple explanation. Since I studied economics around the same time Krugman began his studies. even I know why he is off the mark. I am surprised that a so-called expert like Krugman could be so ignorant of his field of specialty. As Keynes explained, and Kelton fails to make the direct connection – When there is no consumer demand, all the monetary stimulus is not going to cause corporations to invest in making more of what they already cannot sell. When there are supply shortages caused by external factors that are out of the control of monetary policy, taking away the “monetary stimulus” is not going to fix the supply problem. Also corporations who have monopolies in their markets find it cheaper and more profitable to raise prices than it is to increase supply.


How to Monetize Your YouTube Channel – A Beginner’s Guide

vidIQ has the post How to Monetize Your YouTube Channel – A Beginner’s Guide. I have been hearing from podcasts about monetizing their YouTube channel. I finally got curious enough to look a little into what they were talking about. I have been posting on this blog about monetizing internet content. What YouTube does gives a hint that the technology to implement my idea already exists. I just don’t understand why almost nobody has thought of using the technology in the way I have suggested.

Use the following link to look on this blog for all the posts I have made about “monetizing internet content

I do this politics blog for my own pleasure and as a hobby. I have never tried to monetize its content. I don’t foresee a time when I will want to monetize it. However, I do recognize that some people use blogs and podcasts to earn a living. I feel that if this is the way some people have to support their work, that I understand the need. I want to help them because I benefit from their work, and I want to see them continue to do it.


Will You See This Video? SUPPRESSED:Jordan Chariton on YouTube Canceling Progressive Reporting & TYT

YouTube has the podcast Will You See This Video? SUPPRESSED:Jordan Chariton on YouTube Canceling Progressive Reporting & TYT.

Briahna Joy Gray and Jordan Chariton of independent investigative media outlet Status Coup strategize about how to expand left media’s influence, and why The Young Turks no longer serves the role as a broad, unifying left umbrella under which diverse left voices can thrive. What has motivated the political shift at TYT, and can the left achieve a unified media umbrella without taking big money from billionaires?


Jordan Charlton comes close to describing the system I have been touting for years on my blog. There could be a subscription service that would provide access to hundreds of podcasts. The content providers would get paid micropayments from the subscription service for each view by a person who pays for the service. This way, the subscribers pay smaller fees to the content providers, but there would be many more subscribers paying this smaller fee. I would be willing to pay for such a service as opposed to trying to pay $5/month to each of hundreds of content providers I might be interested in for any give month.

Here is the link to search this blog for previous posts I have made about monetizing internet content.