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Created
Thu, 27/07/2023 - 21:57

John Maynard Keynes – “Anything we can do, we can afford.”

Money tells you how much of society’s resources you can command. Can you use that building, that land or that person?

It’s more than that, of course, but this is its most fundamental use.

But we are all familiar with the fact that often there are empty buildings, unemployed people and land which is not being used productively. We also know that often what people, land and buildings are being used to do is a bad: a net negative.

99% of Wall Street, for just one example. 85% of the US military, for a second.

Created
Thu, 27/07/2023 - 21:36
This report, which I wrote for Carbon Tracker, has just been released (Keen 2023). The main report can be downloaded from this link, after logging in to Carbon Tracker (which just requires submitting your email and a password—no financial involved): Loading the DICE Against Pensions – Carbon Tracker Initiative I’d prefer if you downloaded from … Continue reading "Loading the DICE against pension funds: Flawed economic thinking on climate has put your pension at risk"
Created
Thu, 27/07/2023 - 20:34
While the paternity of the theoretical apparatus underlying the new neoclassical synthesis in macro is contested, there is wide agreement that the methodological framework was largely architected by Robert Lucas … Bringing a representative agent meant foregoing the possibility to tackle inequality, redistribution and justice concerns. Was it deliberate? How much does this choice owe […]
Created
Thu, 27/07/2023 - 18:00
Mahmoud Fatouh and Ioana Neamțu Similar to the Deutsche Bank’s episode in 2016 and the Covid stress in 2020, AT1 spreads over subordinated debt rose rapidly and sharply following the Credit Swiss rescue deal. Beyond these three cases, AT1 spreads have been stable. In this post, we focus on conversion risk of AT1 bonds (also … Continue reading Convertible or not: making sense of stresses in AT1 bonds market
Created
Thu, 27/07/2023 - 17:11
4 servings You will need1 lb. 2 oz. ground pork or beef1 onion, chopped1 roll, soaked and drained½ lemon rind, grated2 anchovies, ground1 tablespoon minced parsleysalt and pepper¼ teaspoon nutmeg1 egg2 tablespoons flour Sauce:3 tablespoons butter or margarine1 tablespoon chopped onion1 tablespoon minced carrot1 tablespoon minced celery3 cups water or broth2 lemon slicessalt and pepper1 […]
Created
Thu, 27/07/2023 - 13:52
We really get to see how absurd humanity can be when put in a neoliberal ideological straitjacket when we see serious discussion by serious and educated people about the government paying itself back for losses it makes by loaning itself currency that it issues as a monopolist. They conduct these conversations through the lens of…
Created
Thu, 27/07/2023 - 10:00
They have brainwashed the right into being pro-Putin and even Sean Hannity can’t stop him. I’m too tired to go into why he’s wrong about everything so I’ll just let Evan at Wonkette explain: Legitimate Democratic presidential candidate Robert F. Kennedy Jr. was feeling like ending the polarization, so last night he visited Sean Hannity, where the polarization ends, for an exclusive town hall. That’s what he literally said at the end of the interview when Hannity asked him why he was running for president. He said he would end the polarization by telling the truth. SPOILER: When somebody asks you why you’re running for president, and the beginning of your answer is “I mean …” and then a long pause, you’re definitely about to tell the truth. That’s how the interview ended, so now we’ll backtrack. The meat of the interview didn’t do much to end the polarization or spread the truth, unless you’re one of the fluffers in King Putin’s court, in which case the message was exactly what you instructed your propagandists to disseminate to the useful idiots.