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Created
Sat, 14/01/2023 - 10:08

You know the drill.It was just explained in a previous post here.

The Lens
What Every American Needs to Know About the Congressional "Pay-For" Game (Part 2)
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders
Created
Sat, 14/01/2023 - 09:00
So he invents one He’s at it again: In the midst of implementing its own controversial new program for dealing with the flow of migrants across the U.S.-Mexico border, the White House on Wednesday criticized Gov. Ron DeSantis of Florida for deploying the National Guard to handle the arrival of undocumented immigrants from Cuba. “We are talking about people who are coming from countries, who are dealing with political strife,” White House press secretary Karine Jean-Pierre said at Wednesday’s press briefing. “They’re trying to find asylum — and he’s treating them like pawns.” She charged that DeSantis was “not dealing with the problem. He’s actually creating a problem.” Last week, DeSantis deployed the National Guard to deal with what his office described as an “alarming influx of migrants landing in the Florida Keys,” though it was unclear just what the Guard’s role would be. According to the governor’s office, 300 migrants fleeing Cuba and other countries landed at Dry Tortugas National Park last week, and another 45 made landfall at Key West.
Created
Sat, 14/01/2023 - 08:15

More handwringing over "losses." Well, one party's loss is another party's gain.

They still don't get that QE involves fiscal withdrawals comparable to taxes by transferring interest payments to government while the raising rate involves a fiscal injection comparable to deficit spending by increasing interest payments to nongovernment. That is, the former decreases aggregate net financial assets of non-government (reduces nongovernment net savings in aggregate) while the latter increases aggregate net financial assets of non-government (increases nongovernment net savings in aggregate). QT acts like raising rates in that when the Fed sells bonds or lets them mature, then interest payments to nongovernment increase as a consequence, hence aggregate net financial assets of nongovernment also increase. 

MMT 101. To understand the basics of reserve accounting and bank accounting, see MMT economist Eric Tymoigne's primer on money and banking here.  

Created
Sat, 14/01/2023 - 07:30
He’s already picking out his running mate He’s making a list and he’s checking it twice: With his last vice president seemingly gearing up for his own White House run, Donald Trump is now sifting through binders full of MAGA women to find his next running mate. Rather than choose a safe and conventional option, as he did in 2016, Trump appears intent on running with a loyalist this time––someone who, unlike Mike Pence, would walk into the fires that he will inevitably spark instead of trying not to get burned themselves. Atop the former president’s 2024 VEEP list, which was detailed in a Daily Beast report Thursday, are GOP representatives Marjorie Taylor Greene and Elise Stefanik, both of whom have been steadfast defenders of his since he left office. At present, Greene seems to be the most viable option on the reported list, despite (or by virtue of) her long track record of outrageous remarks and incidents.
Created
Sat, 14/01/2023 - 07:00

Doctor Who’s former Ryan Sinclair, Tosin Cole, stars in two new films arriving in UK cinemas this month Former Doctor Who companion Tosin Cole has two very different films out this month: Till and House Party. Till is first, in cinemas now, which sees the actor revisit familiar territory. It shares its 1950s American South […]

The post Tosin Cole Hitting Cinemas with House Party and Till appeared first on Blogtor Who.

Created
Sat, 14/01/2023 - 06:29
Influential Oxford philosopher Nick Bostrom, well-known for his work on philosophical questions related to ethics, the future, and technology (existential risk, artificial intelligence, simulation), posted an apology for a blatantly racist email he sent to a listserv 26 years ago. You can read his apology, which includes the text of the original message, here. In the original message, which appeared in a thread concerning offensiveness, Bostrom complains that the statement “Blacks are more stupid than whites” (about which he says in the message “I like that sentence and think it is true”) would be mistakenly interpreted as racist. He then, in the same message, conveys that the reason he thinks that it would be interpreted as racist is that it would be seen as “synonynous” with using a racial slur to declare one’s hate for black people. To put things in an understated way, one thing to conclude about this is that in 1997, Nick Bostrom did not have a good understanding of racism. Nor of good communication norms. What about the Nick Bostrom of today? In his apology, he writes: I completely repudiate this disgusting email from 26 years ago.
Created
Sat, 14/01/2023 - 06:00
David Chalian on CNN said this morning: You seem to want points from the American people that you immediately notified the archives and in turn notified the justice department when these document were found at the beginning of November, but why didn’t you notify the American people? We don’t have an answer to that question. They have no answer to the question of why they chose not to be transparent with the American people at that time. You see, they’re not accusing him of anything they’re just asking questions. It’s all about transparency, nothing more. Watching the feeding frenzy over Joe Biden’s documents super-scandal, I was reminded of how the media reacted when Hillary Clinton fainted on the campaign trail after months of conditioning by the right wing media that she was brain damaged. This is how it works: right wing media pounds on a story for months that the mainstream media eagerly devours but only reports around the edges. Then when an opening presents itself they burst forth with accusations that the official or candidate was engaged in a cover-up. It happens all the time.
Created
Sat, 14/01/2023 - 05:06
Todd attracted attention in 1976 when, at age 25, he predicted the fall of the Soviet Union, based on indicators such as increasing infant mortality rates: La chute finale: Essais sur la décomposition de la sphère Soviétique (The Final Fall: An Essay on the Decomposition of the Soviet Sphere). — Wikipedia

Emmanuel Todd is the author of After the Empire: The Breakdown of the American Order (2001).