As a close friend and colleague of Michael Hudson (Hudson 2004, 2018), I was aware of much of the content of David’s Debt: the First 5000 Years (Graeber 2011) before I read it. But David weaved the tale of debt into the recorded history of humanity in a way that made it revelatory, even to … Continue reading "Tribute to David Graeber"
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There’s a popular belief that capitalism succeeds because it enables the best product in any industry to survive, while the poorer products lose out. There’s also a popular belief that the market leads to “lock-in”: an inferior concept will come to dominate a product space, and improvement becomes impossible because all subsequent developments are forced … Continue reading "How Capitalism Kills Good Software"
A recent episode of the Debunking Economics podcast annoyed quite a few people, and I couldn’t be happier. The episode, shown and linked in the graphic below, considered the sustainability of the economic growth that capitalism has spawned over the last 250 years (hint: it isn’t), and as part of it, I took a swipe … Continue reading "Who reads whom in economics?"
I’m in the middle of a large consulting project on economics and climate change, and I’m also developing and delivering a set of seven “Mastermind” lectures, which you would have seen advertised on social media (a marketing firm is handling the messaging, which is why some people have thought it’s not me putting out the … Continue reading "Using accounting to prove the core propositions of MMT and Endogenous Money"
“I fancy that over-confidence seldom does any great harm except when, as, and if, it beguiles its victims into debt.” (Fisher 1933, p. 341) The man who penned those words wrote them from bitter experience. Irving Fisher, who is far better known for the statement that “Stock prices have reached what looks like a permanently … Continue reading "Margin Debt at Levels Not Seen Since the Peak of the Roaring Twenties Mania—and Falling"
Ron Filipkowski is one of the most prolific tweeters of right wing freak show out there and it’s endlessly entertaining (if also kind of terrifying.) He compiled what he considers to be his top 100 right wing tweets and they are something else. I’ve put the top 25 here for your enjoyment: #25. At a Trump rally, kid is asked what he most looking forward to at the event. Kid goes off the rails on his MAGA parents with his answer: “To see Joe Biden.” #24. Returning home to Huntington Beach, OAN host loses her mind when she sees that they are flying a Pride flag from a city building. #23. The opening “prayer” at Eric Trump & Michael Flynn’s event, they ask for Jesus to let Trump know when the time for divine intervention has come for him to resume the presidency, and for God not to “surround him with Deep State, RINO trash.” Amen. #22. MAGA congressional candidate Martin Hyde, endorsed by Michael Flynn & Roger Stone, throws down his white privilege card and goes full “do you know who I am,” then threatens to get her fired because she dared to give him a speeding ticket. #21. Marge Greene defines what a woman is.
In case you are staying home tonight and wondering what you might watch on TV, forget Andy and Anderson and don’t bother with Ryan Seacrest. Have I got the show for you! What a fun bunch! But you might want to lay in a bigger than usual supply of champagne and Advil and maybe think about having some shots to start you off. You’re going to need them. Here’s a taste of what you might expect from the Baptist preacher Mike Huckabee: Happy New Year?
No history this time, folks; just a story. A story of a time when entertainment wasn’t on tap, when anyone wanting to watch a movie either had to go to the cinema (ew), wait for it to be shown on tv (double ew) or head down to that ghost of the recent past, the video […]
The circus is in town Politico reports that Hunter’s laptop is only the beginning. The wingnuts holding the Speakership hostage want to establish a “Church Committee” to examine the Biden administration’s “weaponization” of the federal government. I kid you not: While the Republican leader and soon-to-be committee chairs have already lined up a laundry list of investigations that will largely command the House GOP’s agenda next year, it’s not enough for some McCarthy critics. Some of those opposing and on the fence about the Californian’s speakership bid want him to start a new panel, one that could direct probes against the entities they’ve castigated for years, including the FBI, theJustice Department, theIRS and Anthony Fauci. Further complicating McCarthy’s position is that other Republicans aren’t on board. Some of his allies are skeptical that such a select committee wouldn’t severely overlap with the investigative plans that incoming chairs such as Reps. Jim Jordan (R-Ohio) and James Comer (R-Ky.) have already worked on for months.
I just wanted to check in and thank you once again for your kind support this year. It is greatly appreciated. There’s a lot of competition out there so it really means the world to me that you value what we do here enough to help keep it going. I’m going to leave this up until the end of the year in case any of you just stopped by and want to throw a little something our way. I hope everyone has a wonderful holiday week (and that none of you are flying on Southwest!) Cheers — digby