Alexandria Ocasio-Cortez’ platform is dramatically better than many may realize. It tackles the greatest evil in existence in a way that no other big-2 congressional candidate’s website does and which most do not even mention. And in doing so, it makes serious much of the rest of her socialist platform in a way that even presidential candidate Bernie Sanders did not — a way promoted by the peace movement, the Poor People’s Campaign, and Black Lives Matter.…
By labeling her foreign policy platform “A Peace Economy,” Ocasio-Cortez, using a phrase popular with the peace movement, makes the financial connection without shying away from the immoral and criminal and counter-productive character of war. The fact is that war endangers rather than protecting, erodes rights, militarizes police and society, destroys the natural environment, directly kills and injures and traumatizes and harms millions, and — on top of that — does the most damage through the diversion of resources from where they could do good. War is the only place where enough money sits with which to try to protect the environment or to guarantee education or retirement or other basic rights. Candidates who do not mention war spending are not serious about the things they do mention.Ignorant of the currency issuer-users distinction, but otherwise right on. Alexandria covers the bases.
Counterpunch
Why Ocasio-Cortez’s Platform is So Great
David Swanson
Ignorant of the currency issuer-users distinction, ... Tom Hickey
ReplyDeleteWhile MMT proponents ignore that the government-privileged banks can also create purchasing power, unlimited by the need for Congressional appropriation? And which also consumes price inflation space that might otherwise be used by the monetary sovereign?
But who do you think will be blamed, Tom, if price inflation becomes excessive? The government-privileged banks or the monetary sovereign?
She has a degree in Economics and International Relations... forget her imo nothing will come of it...
ReplyDelete"without shying away from the immoral and criminal and counter-productive character of war. "
ReplyDeleteOh come on this guy is biased anti-war big time nothing objective is going to come out of him...
While MMT proponents ignore that the government-privileged banks can also create purchasing power, unlimited by the need for Congressional appropriation? And which also consumes price inflation space that might otherwise be used by the monetary sovereign?
ReplyDeleteMMT proponents don't ignore this as testified to by Warren Mosler's proposals for reforming banking and finance, for instance.
Banks dont give loans at prices that are above that already realized in the marketplace...
ReplyDeleteShe has a degree in Economics and International Relations... forget her imo nothing will come of it...
ReplyDeleteAngela Merkel has a PhD in quantum chemistry and once applied for a professorship in engineering. Has that STEM background helped her in governing?
Do you want accountants to run things?
Oh come on this guy is biased anti-war big time nothing objective is going to come out of him..
ReplyDeleteSo says someone that never served in wartime and doesn't know war.
Banks dont give loans at prices that are above that already realized in the marketplace...
ReplyDeleteSo how do prices rise?
" unlimited by the need for Congressional appropriation"
ReplyDeleteLending is a function of leading govt flow in a numismatic system.. so lending increases with an increase in leading flow only...
iow if govt does not increase leading flow, then total bank credit will not increase...
So AA it is a function of Congressional appropriation....
ie you are wrong...
"So how do prices rise?"
ReplyDeleteIts like Warren sez, "all prices are necessarily a function of what the govt pays for things, or what they let their fiscal agents (banks) lend against things..."
So if GOVT pays more for something, then the prices go up for everybody else..
Tom,
ReplyDeleteQ: What is the price of a USD in CNY terms?
A: What the BOC says it is... etc...
Q: What is the max price of a barrel of oil in USD terms?
A: What the China govt currently says it is ie they will pay max $75/bbl...
here Tom $75 is the high Mike has been reporting on this and trading the price channel on crude pretty successfully:
ReplyDeletehttps://www.reuters.com/article/us-column-russell-crude-saudi/saudi-efforts-to-raise-crude-prices-get-chinese-slap-russell-idUSKBN1HI03D
Trump and Xi will just go take the f-ing oil and those OPEC mfers will have to go back to camel chips if they are not careful...
Trump and Xi are not taking any shit from these OPEC mfers... can it get any better!?!?!?!
"Angela Merkel has a PhD in quantum chemistry and once applied for a professorship in engineering."
ReplyDeleteHa lol ... in East Germany! lol!... she probably blew to get it...
Ok Tom looks like she didnt blow.... but instead here:
ReplyDelete"Near the end of her studies, Merkel sought an assistant professorship at an engineering school. As a condition for getting the job, Merkel was told she would need to agree to report on her colleagues to officers of the Ministry for State Security (Stasi)."
https://en.wikipedia.org/wiki/Angela_Merkel
she's toast.. 100% damaged goods...
She already had her PHD at the time and withdrew her application for a professorship owing to the conditions.
ReplyDeleteThe USSR and satellite countries were very good at military technology, where they had to commit their chief resources owning to the Cold War.
Her refusal to become a spy is actually in her favor. If she had agreed, she would not be dragged gods, but she rose to the occasion and refused.
She's still a victim of coercion...
ReplyDeletedo you think that the female actors who wouldnt blow Harvey Weinstein were still not affected by that coercive experience? doubt it..
Were all a product of our experiences...
all prices are necessarily a function of what the govt pays for things, or what they let their fiscal agents (banks) lend against things..."
ReplyDeleteHow does bank lending become a function of what government pays for things?
It looks to me like Warren is saying that there are two separate factors involved.
Why can't banks choose to lend more on assets unless government decides to pay more for things?
I don't see the connection.
For example, bank lending has been behind rises in housing prices in booms as well as equities based on margin lending. How does government spending affect these?
Mosler's "reforms" would do nothing to limit the ability of banks to create new deposits for the purpose of dis-employing workers with automation financed with, what is, in essence, the public's credit, but for private gain.
ReplyDeleteDo you sign on to that, Tom?
In the housing bubble, Rummie's DoD contractors were paying $50/sheet of plywood and $18/sheet of drywall... wiping out inventories in my area... last time I checked at Home Depot they were $13 and $6... what do you think is going to happen to housing prices when Rummie is paying those prices???
ReplyDeleteTom, do you think they are going to go DOWN?????
Tom if OFHEO came out tomorrow and said they would lend $1M against double wide mobile homes the price of those would go immediately to $1M...
"of banks to create new deposits for the purpose of dis-employing workers"
ReplyDeletethat is not what they are doing... they are lending against industrial equipment at collateral prices that are prevalent in the marketplace... put down your toilet paper OT and take a course in Finance...
"Do you sign on to that, Tom?"
ReplyDeleteYes, I am OK with it, with the qualification that government needs to supervise lending standards and scrutinize credit operations closely. The FBI was warning about mortgage fraud becoming rampant in Dec 2004, IIRC, and regulators did nothing. Greenspan dismissed the issues as being merely froth in some areas.
Matt, you may be correct about these matters, but I'd have to see some papers that put numbers on it to be convinced.
ReplyDeleteYes, I am OK with it, with the qualification that government needs to supervise lending standards and scrutinize credit operations closely. Tom Hickey
ReplyDeleteSo legalized theft is OK if it is prudent theft?
that is not what they are doing... Franko
ReplyDeleteSo bank "lending" does not create deposits, Franko?
So legalized theft is OK if it is prudent theft?
ReplyDeleteOligarchy and the economic system it is based on, which how happens to be capitalism, is legalized theft.
It's likely to remain the dominant system for the foreseeable future.
Not that it cannot be modified in the direction of something less toxic, but taking on the financial system, which is the heart of it, is probably not the optimal strategy.
So I am OK with measures like Warren Mosler proposes. It's a start. It is political feasible.