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Wed, 15/02/2023 - 18:20
It’s Wednesday and a lot is going on. The RBA governor appeared before the Commonwealth Senate Estimates Committee today and demonstrated what a troglodyte he is, defending massive bank profits and deliberately trying to cause unemployment. Meanwhile, US data shows that inflation has peaked and is now falling. The pace of the deceleration is picking…
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Wed, 15/02/2023 - 15:55
Published by Chip Gibbons: Defending Rights & Dissent In the late 1990s and early 2000s, international financial summits, like the IMF and the World Bank, attracted masses of protesters. In many cases, protesters engaged in civil disobedience. They were also met with brutal repression by police that included physical violence and illegal arrests. The media helped peddle police narratives that painted them as violent rioters engaged in senseless destruction for destruction’s sake. The reality is that protesters were victims of police riots.
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Wed, 15/02/2023 - 11:46
Jack Clarke promoted to senior role in Sharon Graham’s team without usual exec approval, despite final warning from union after complaints of bullying and threatening behaviour The husband of Unite general secretary Sharon Graham – now a senior member of her team after a promotion said to have bypassed the usual process of approval by […]
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Wed, 15/02/2023 - 11:34
4 (5- to 6-oz size) lobster tails, cooked1 can (14 oz) artichoke hearts, drained⅓ cup butter or margarine1 green pepper, cut in strips1 small onion, peeled and quartered¼ cup unsifted all-purpose flour1¾ teaspoons salt12 teaspoon paprika⅛ teaspoon pepper2½ cups milk1 egg, beaten1 tablespoon bottled capers, drained½ teaspoon Worcestershire sauce1 teaspoon lemon juice⅓ cup sherry2 cups […]
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Wed, 15/02/2023 - 11:00
It’s bad for business Semafor reports that this bullshit is starting to cost real money: Last year, Republican-controlled legislatures began passing laws blacklisting state investment funds from doing business with money managers that pushed what they deemed to be liberal agendas, like boycotting gun manufacturers and mining companies. BlackRock, run by Larry Fink, an outspoken supporter of so-called ESG principles, has taken the brunt of the pressure, with at least 10 states pulling their money from his firm or threatening to. “If Larry or his friends on Wall Street want to change the world — run for office,” Florida’s chief financial officer said in December, when he announced the state would pull $2 billion out of BlackRock, which he accused of running a “social-engineering project” with clients’ cash. A chorus of state governors, treasurers, and attorneys-general joined in, and the American Legislative Exchange Council, a test kitchen for conservative legislatures, outlined model bills that statehouses could propose.
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Wed, 15/02/2023 - 10:59
Another Message Board (a bit late this week) Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I’ve moved my irregular email news from Mailchimp to Substack. You can read it here. You can also follow me on Mastodon here I’m also trying […]
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Wed, 15/02/2023 - 10:32

As Somalia struggled to hold its first real national elections since the country collapsed in 1991, the US and its allies pushed separatism and undermined democracy so as to militarily dominate the country and plunder its resources. An armed conflict is underway between secessionists and unionists in the city of Lasanod, where Somaliland state separatist forces have fired on civilians, reportedly killing more than 82 people. Somali unionists have now taken up arms to defend themselves, and issued a declaration […]

The post How the US crushed the struggle for a Somali nation appeared first on The Grayzone.

Created
Wed, 15/02/2023 - 10:18
I have a new paper on how we conceptualize the supply side of the economy, coauthored with Arjun Jayadev. I presented a version of this at the Political Economy research Institute in December 2022. You can watch video of my presentation here — I come on, after some technical difficulties, around 47:00. (The other presentations from the conference are also very worth watching.) The paper will be published in the upcoming issue of the Review of Keynesian Economics. (The linked version is our draft; when the published version comes out I’ll post that.)

Our fundamental argument is that while macroeconomic supply constraints are normally conceptualized in terms of a level (or level-path) of potential output, in many contexts it would be better to think in terms of a constraint on the rate of change — a speed limit rather than a ceiling.…
J. W. Mason's Blog
New Paper: Rethinking Supply Constraints
JW Mason | Assistant Professor of Economics, John Jay College, City University of New York

Created
Wed, 15/02/2023 - 09:30
They always are Krugman reminds us of the history: But, of course, many Republicans do want to eviscerate these programs. To believe otherwise requires both willful naïveté and amnesia about 40 years of political history. First of all, if Republicans had absolutely no desire to make major cuts to America’s main social insurance programs, why would they sunset them — and thus create the risk that they wouldn’t be renewed? As Biden might say, c’mon, man. And then there’s that historical record. Two things have been true ever since 1980. First, Republicans have tried to make deep cuts to Social Security and Medicare every time they thought there might be a political window of opportunity. Second, on each occasion they’ve done exactly what they’re doing now: claiming that Democrats are engaged in smear tactics when they describe G.O.P. plans using exactly the same words Republicans themselves used. So, about that history. It has been widely forgotten, but soon after taking office Ronald Reagan proposed major cuts to Social Security.