What’s a little more suffering? This is depressing. But it’s best that people over 60 understand that it’s every man for himself, accept the fact that their lives are considered expendable and assess the risks accordingly: In early December, Aldo Caretti developed a cough and, despite all his precautions, came up positive for Covid on a home test. It took his family a couple of days to persuade Mr. Caretti, never fond of doctors, to go to the emergency room. There, he was sent directly to the intensive care unit. Mr. Caretti and his wife, Consiglia, both 85, lived quietly in a condo in Plano, Texas. “He liked to read and learn, in English and Italian,” said his son Vic Caretti, 49. “He absolutely adored his three grandchildren.” Aldo Caretti had encountered some health setbacks last year, including a mild stroke and a serious bout of shingles, but “he recuperated from all that.” Covid was different. Even on a ventilator, Mr. Caretti struggled to breathe. After 10 days, “he wasn’t getting better,” said Vic Caretti, who flew in from Salt Lake City. “His organs were starting to break down.
Reading
Ambitious social security and health care reforms aim to coax the masses into saving less and consuming more
This could be big. Saving preference is inversely proportional to consumption preference. Saving reduces consumption spending, that is, demand. Low consumption to investment and low domestic to external are a major factors holding the Chinese economy back from expansion.
Even the IMF is recommending a version of this — from the neoliberal perspective, of course. But China has its own plan in the works. Hopefully, it will be more welfare-oriented than stimulative-directed.
Well targeted, that is, welfare-oriented, this kind of program would also be a factor in stabilizing China's population and reversing the present decline that will adversely affect growth over time absent offsetting increases in productivity — which is one factor in China's emphasis on innovation.
This would also make China more self-sufficient, and it is likely that China is observing Russia's demonstrated success in achieving this.
Week-end Wrap – Political Economy – February 12, 2023
by Tony Wikrent
War
Seymour Hersh: Navy Divers + Spooks + Norway Took Out Nord Stream 2 on Biden’s Orders, Using Timer
[Naked Capitalism, 2-8-2023]
Human resources (qualified people). This is a failure of education.
He never stops being embarrassing: Rep. Matt Gaetz (R-Fla.) kicked off the first meeting of the House Judiciary Committee last week by cordially inviting an accused murderer to lead the Pledge of Allegiance. Under its new Republican leadership, the 118th Congress’ judiciary committee may choose to start each hearing with the pledge ― an amendment to the rules put forth by Gaetz, who said it allowed members to invite “inspirational constituents” to lead it. The first honor went to Corey Beekman, a retired National Guard member accused of killing a man in 2019 whose case has not gone to trial. Gaetz did not mention this aspect of his guest’s backstory. Beekman led the pledge in his military dress uniform on Feb. 1. “It is my pleasure and distinct honor to introduce to the committee Staff Sgt. Corey Ryan Beekman, an American hero and a constituent of mine residing in Pensacola, Florida,” Gaetz said in the video still available on C-SPAN. He rolled through Beekman’s life story.
It is time Australia made a big, if bold, shift in its foreign policy and put up its hand to be a part of the Non-aligned movement. It was refreshing to read ‘Now is the time for non-alignment and peace’ by Prashad and McKenzie in Pearls and Irritations. The Non-aligned Movement has attracted 120 nations Continue reading »
It goes without saying, and even better with saying, that America’s destiny is now tied up with China, which means so too is Australia’s. There has, of course, been a lot of commentary on this and on the diplomatic role that middle powers play in an evolving relationship. What has been absent, to some degree, Continue reading »
Recent debate on this site about economic growth and environmental protection highlights the very narrow and limiting framing of mainstream economics, and points to the far more positive prospect that is available to us if we can broaden our vision. Mark Diesendorf (and here) has strongly countered arguments by Roger Beale and Michael Keating that Continue reading »
The latest NAPLAN results show shocking inequalities in school outcomes between highly advantaged and disadvantaged students in NSW. Very high proportions of low socio-economic status (SES), Indigenous and remote area students do not achieve national literacy and numeracy standards compared to very small proportions of high SES students. By Year 9, low SES, Indigenous and Continue reading »
Indonesia is chair of ASEAN this year and using its position to try and end the two-year crisis in Myanmar that’s already cost more than 3,000 lives. President Joko ‘Jokowi’ Widodo has told Reuters he wants to send an envoy to Myanmar ‘in the hope of demonstrating to military rulers how Indonesia successfully transitioned to Continue reading »
My sources corroborate Seymour Hersh’s report that the US was behind the Nord Stream pipeline sabotage. (My sources are logic, common sense, and public statements by US government officials.) If Putin and senior Russian officials had said what Biden and senior US officials have been saying about how much they hate the Nord Stream pipelines Continue reading »
I have finally moved my blog and integrated in within my long-standing home page. The new blog address is – http://www.billmitchell.org/blog – although the old address will work forever. However, I do urge you to update your bookmarks to the new address....
Bill Mitchell – billy blog (in the future: William Mitchell - Modern Monetary Theory)
Administrative update: My blog has a new homeBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
Right’s claim purge of left is to ensure ‘quality’ candidates who can’t embarrass party is a sham Momentum staffer Angus Satow has posted a thread of what he claims is ‘all’ the right-wing candidates that have been allowed to stand for selection by the Labour party despite being ‘scandal-hit’ – which he points out makes […]
Tomorrow morning, I’ll join CNBC’s Squawk Box to talk about a new effort to tax the rich. The segment will air at 7:50 ET. I’m not referring to the so-called billionaire tax that President Biden called for in his State of the Union address last week. That almost certainly isn’t going anywhere. I’m talking about a
Every Sunday, I blog about the geek-friendly radio shows the BBC are putting out in the forthcoming week! All of the following can be either listened to live or downloaded afterwards for free on the BBC Sounds app, no matter where you are in the world. Please note: I don’t include later episodes of most ... Read More
THE much-loved Ocean Film Festival World Tour returns to Coffs Harbour next month for its tenth anniversary. This year the one-off special event screening takes place at the Jetty Memorial Theatre on Thursday 9 March 2023 from 7.00pm to 10.00pm. Advertise with News of The Area today. It’s worth it for your business. Message us....
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Something to savor with your morning coffee:
THE Emerald Beach Fair is back on Saturday 3 June 2023, and with the announcement of the date comes a call from the committee for sponsors. “The Fair wouldn’t be possible without the generosity of sponsors,” Sherrie Rutherford, Chair of the Emerald Beach Fair Committee told News Of The Area. Advertise with News of The...
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COFFS COAST women are invited to attend the Business and Professional Women (BPW) Coffs Coast annual Candle Lighting Dinner. This event is a 90-year old annual tradition that has global implications and the candles and the candle lighting protocols symbolise the ambitions and endeavours of dedicated women in every country around the world. Advertise with...
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THROUGHOUT January BigW partnered with the Australian Literacy and Numeracy Foundation (ALNF) to support a program that raises funds for the Breakfast Library program, delivering books and reading support to families in need. The team at BigW Plaza were 100 percent in. Advertise with News of The Area today. It’s worth it for your business....
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Harry mentioned the politics of the second-best in comments to his post on higher education the other day. I guess it falls into something of the same space as non-ideal theory or realism, as opposed to moralism. The basic idea is that we shouldn’t hold out for purity if doing so gets in the way […]
TAKING out the title of most generous blood donation team on the Mid North Coast is the MNC Local Health District’s Coffs Harbour Health Campus, with special mentions to the NSW Rural Fire Service and Coffs Harbour City Council. Coffs Harbour Health Campus General Manager Lydia Dennett congratulated all staff who generously donated throughout the...
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COFFS Harbour nurses say there is a staffing crisis in local hospitals and are calling for urgent action. They say new hospital buildings are welcome, but the real need is for enough staff to do the job. Advertise with News of The Area today. It’s worth it for your business. Message us. Phone us –...
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Chomsky and Prashad: Cuba is not a state sponsor of terrorism Noam Chomsky and Vijay Prashad February 12, 2023. Peoples Dispatch. Cuba, a country of eleven million people, has been under an illegal embargo by the United States government for over six decades. Despite this embargo, Cuba’s people have been able to transcend the indignities […]
I guessed that most people would think that industrialists like Ford and Edison were opposed to fiat money, and in favour of “sound money”—money backed by gold or some other commodity. As this post will show, that is a false belief. These two industrialists were outright fans of fiat money—money created by the government—and critics … Continue reading "Ford and Edison, the anti gold bugs"