Friday, November 16, 2018

Alan Longbon — Good News: The U.S. Government Runs A $100B Deficit In October 2018, The Private Sector Runs A $100B Surplus

Summary
  • The US budget deficit is $100 billion in October 2018; this is a net expansion of income and savings in the private sector and explains the rebound in markets.
  • The good news is that dollars are being added to the economy by the Federal government, allowing the private sector to post a $100 billion surplus.
  • Private credit growth has rebounded this month and made a $17B contribution to aggregate demand and fiscal flows.
Republican president and Republican Congress. Bring on the stimulus (denied Obama)! "Reagan proved that deficits don't matter.…" — Dick Cheney (2004)

Fed reaction response: Raise interest rates (without realizing that the addded interest payments are also stimulative and higher interest is a price rise).

Harald Eia - Where in the world is it easiest to get rich?

An absolutely brilliant TEDx talk which shows that left-wing economics works far better than right-wing economics - which is what us socialists have been saying all along.

So, is the 'low regulations, ultra free market' just nothing but right wing propaganda put out by billionaire funded think tanks? Well, if you want to get rich, then emigrate to the high tax, strong union, large welfare state (which like to redistribute money to poor people) countries.

Herald Eia is a very entertaining speaker so it was a delight to watch.


In which society is it easiest to get rich? Contrary to common belief, it is not countries like the US or the UK that create the highest number of rich people per capita, but Nordic social democracies like Norway and Sweden. Counter intuitive as it may sound, high taxes, generous welfare states and strong unions makes a better environment for the people who wants to earn huge amounts of money, than free markets, low taxes, and minimal government intervention.

Paul Thagard — Jordan Peterson’s Flimsy Philosophy of Life


Jordan Peterson is the pop philosopher of greatest interest in the US right now. His thought is of interest for that reason, especially for those who like staying au courant. But his is more important in the large picture for why he is regarded as important, especially in a culture in which philosophy is held in low esteem and Ayn Rand is actually considered a notable thinker by serious people in politics.

I submit that a major reason for Peterson's popularity is his worldview, rather than any of his particular views. The national dialectic in the US now, and to some degree internationally, is the tension between traditionalism and liberalism that came to the fore in the Renaissance with the rise of science and interest in classical literature. Peterson addresses this tension in a popular fashion that a lot of people can relate to.

The liberal wave began its crest in the Enlightenment, when the replacement of dogmatic theology and the alliance between church and state power declined, as theology was being replaced by naturalistic philosophy, and law based on religious dogma was being replaced by positive law based on natural law.

Traditionalism is based on the great chain of being worldview. Liberalism is based on scientific naturalism. The link between them is the understanding of "nature" and "natural" based on the Western intellectual tradition that began with ancient Greek thought.

This rise of liberalism and scientific naturalism resulted not only in an intellectual transformation in cultural worldview, but replacement of the traditional order by the liberal order as feudalism collapsed, sweeping away monarchies and empires, replacing them with democratic republics based on liberalism.

But classical liberalism was bourgeois liberalism based on property ownership. "All men are born equal" — sort of, that is. This "sort of" has lead to many paradoxes of liberalism that add to paradoxes that arise from combining liberalism and traditionalism. These paradoxes appear as contradictions that result in cognitive-affective dissonance.

In dialectical progression in contrast to strictly linear progression, the past is brought along into the present and continues to influence the future in a way that is far more complicated and also complex than physical processes. This is called variously "path dependence," "hysteresis," "historicity" and social and cultural embeddedness." Biological phenomena exhibit this more than purely physical, and social phenomena more than biological, e.g., owing to cultural embeddedness and institutional rigidity.

The result is that many Americans are suffering from a "split personality," torn between traditionalism  and liberalism. This is especially the case with people that are religious (traditional) and also committed to individual freedom (liberal). This is not to say that this affects only Americans, only that Americans have their own characteristic "brand" of it owing to their history.

This results in paradoxes as apparent contradictions. An appeal of a thinker like Jordan Peterson is to offer a worldview in which those paradoxes can be resolved, reducing cognitive-affective dissonance. But in doing so by the route he has set on, Peterson has become a controversial figure.

So the question arises, how sound is his position? Paul Thagard, Canadian philosopher and cognitive scientist, responds.

Psychology Today
Jordan Peterson’s Flimsy Philosophy of Life
Paul Thagard | Distinguished Professor Emeritus of Philosophy at the University of Waterloo and a Fellow of the Royal Society of Canada, the Cognitive Science Society, and the Association for Psychological Science

See also

The Conversation
Human evolution is still happening – possibly faster than ever
Laurence D. Hurst | Professor of Evolutionary Genetics at The Milner Centre for Evolution, University of Bath

John Siman — Everything You Thought You Knew About Western Civilization Is Wrong: A Review of Michael Hudson’s New Book, And Forgive Them Their Debts


Must-read.

Naked Capitalism
Everything You Thought You Knew About Western Civilization Is Wrong: A Review of Michael Hudson’s New Book, And Forgive Them Their Debts
John Siman

TIME is an ILLUSION said EINSTEIN - (the space-time continuum)

This is interesting! What is time? Is it an ilusion?




Albert Einstein was very clear in his day. Physicists are very clear now. Time is not absolute, despite what common sense tells you and me. Time is relative, and flexible and, according to Einstein, "the dividing line between past, present, and future is an illusion". So reality is ultimately TIMELESS. This sounds pretty bizarre from the view of classical physics, but from the view of consciousness theory and spirituality, it fits in perfectly.

Thursday, November 15, 2018

Links — 15 Nov 2018

NEO
Magic imperialism and the great American wall
Ann Garrison

Matt Taibbi

Defend Democracy Press
New Study Details 'Staggering' $6 Trillion (and Counting) Price Tag of Endless US War
Julia Conley

Project Syndicate
Disaster Capitalism Comes to Puerto Rico
Martin Guzman and Joseph E. Stiglitz

Fort Russ News
Internationalism: Kim Jong-un Wishes Assad Success Against ‘Hostile Forces’
Paul Antonopoulos

NEO
China – A New Philosophy of Economics
Peter Koenig

NEO
Washington Goes after the Dismemberment of the EU

NEO
India Chooses Russia
Dmtiry Bokarev

Intel Today
International Law — Acts of War in Cyberspace (2018)

The Elephant
The Age of Fraud

AlterNet
What happens when the intelligence community decides that Trump is too dangerous to be president?
Jeffferson Morley

Fort Russ News
THIRTEEN COUNTRIES PREFER PURCHASE OF S-400 DESPITE THREAT OF SANCTIONS, SINCE BEING BOMBED IS WORSE
Paul Antonopoulos











Col. Pat Lang — The Entry of the Commoner Scapegoats in Wahhabeeland


Human sacrifice to the Trump god.

Sic Semper Tyrannis
The Entry of the Commoner Scapegoats in WahhabeelandCol. W. Patrick Lang, US Army (ret.)
At the Defense Intelligence Agency, Lang was the Defense Intelligence Officer (DIO) for the Middle East, South Asia and counter-terrorism, and later, the first Director of the Defense Humint Service. At the DIA, he was a member of the Defense Senior Executive Service. He participated in the drafting of National Intelligence Estimates. From 1992 to 1994, all the U.S. military attachés worldwide reported to him. During that period, he also briefed President George H. W. Bush at the White House, as he had during Operation Desert Storm.

He was also the head of intelligence analysis for the Middle East for seven or eight years at that institution. He was the head of all the Middle East and South Asia analysis in DIA for counter-terrorism for seven years. For his service in the DIA, Lang received the Presidential Rank Award of Distinguished Executive. — WikipediaMoon of Alabama
 See also

Moon of Alabama
U.S., Al-Sauds Fight Over MbS Advisor - White House Willing To Appease Erdogan

Reuters — Fed plans major review of how it pursues inflation, employment goals

The Federal Reserve will conduct an extensive review next year of how it tries to guide the U.S. economy, the U.S. central bank said on Thursday.
“Now is a good time to take stock of how we formulate, conduct, and communicate monetary policy,” said Federal Reserve Chairman Jerome Powell, noting that the Fed was close to meeting its goals of maximum employment and a 2 percent inflation rate. 
In a statement, the Fed said it would reach out to a “broad range” of stakeholders and that it planned to host a research conference in June to support the review. The research conference will be held at the Federal Reserve Bank of Chicago.
Admission that current policy is not working?

Reuters
Fed plans major review of how it pursues inflation, employment goals

Base 60 (sexagesimal) - Numberphile

Why do we have 60 seconds to a minute and 60 minutes to an hour?

Why do we have 360° in a circle? Finding this out was awesome. Of course, I thought!

And why do we use base 10? Because it's easy, I thought. Nope, it's more obvious than that.








Edward Hadas — Fear of fiscal deficits is overdone


MMT.

Edward Hadas makes a couple of mistakes:  Steven Keen is not an MMT economist although he is an MMT ally and QE is not the same as fiscal injection in that the former creates no new aggregate net financial assets in non-government while fiscal injection does. But these are subtle points and the rest of the piece is favorable, so no quibbles. 

Reuters is a news service, and I initially picked this up at NADAQ. So MMT is getting wide exposure.

Reuters Breaking Views
Hadas: Fear of fiscal deficits is overdone
Edward Hadas




Clint Ballinger — MMT & the Fourth Spark Plug: Descriptive vs. Prescriptive revisited


Clint Ballinger uses an automotive analogy to show how MMT is not so much a matter of changing policy as much as it is of using the full power of currency sovereign. Then the self-induced limitations on using the full capacity of fiscal space disappear automatically.

The mistake is largely due to the erroneous government as firm or household analogy. A sovereign currency issuer is not limited in the amount of currency it can issue, unlike currency users that must obtain the currency. The constraint limiting issuance by a currency sovereign is the availability of real resources including the ability of the economy of the currency zone to meet demand in markets by expanding supply.

Clint Ballinger
MMT & the Fourth Spark Plug: Descriptive vs. Prescriptive revisited

Wednesday, November 14, 2018

As’ad AbuKhalil — Newly-Elected Progressives Confront AIPAC Test


Already backpedaling on campaign rhetoric. 
After they won their primaries, some young progressives curbed their pro-Palestine rhetoric. Now they are in Washington getting oriented. Next up: early test votes in the new year sponsored by the pro-Israel lobby, writes As`ad AbuKhalil.
Consortium News
Newly-Elected Progressives Confront AIPAC Test
As’ad AbuKhalil | Lebanese-American professor of political science at California State University, Stanislaus

See also at Consortium News

Another case of failing up.

Clapper Admits Gross Intelligence Failure on Iraq WMDs But Still Escapes Justice
Ray McGovern

Jason Smith — Unions, inequality, and labor share


The information transfer model tracks this pretty well.

Information Transfer Economics
Unions, inequality, and labor share
Jason Smith

Lars P. Syll — Kalecki and Keynes on the loanable funds fallacy


Banks are not intermediaries between savers and borrowers, and finance is not allocating existing savings to future investment.

The opposite is true. Bank credit is self-funding; in credit extension, loans (assets) create deposits (liabilities). In finance as allocation of capital, investment creates saving.

Lars P. Syll’s Blog
Kalecki and Keynes on the loanable funds fallacy
Lars P. Syll | Professor, Malmo University

CGTN — As income grows, Chinese saving less, borrowing more


Chinese consumers are embracing credit. This has huge implications for increasing China's consumption to investment ratio, which needed for the transition from low-income, to middle-income to high-income country. This implies growth of the domestic economy and less dependence on the external sector.

It will also bring China trade surplus more toward balance and over time likely into deficit as "the Chinese consumer" replaces "the American consumer" as the purchaser of last resort.

And it's likely that India won't be far behind, with Indonesia in the wings. This will make Asia the global economic hub, unseating the West.

Transnational firms know this, of course, so now the push is on not only to access these markets but also to dominate them.

How's that trade war going you?

Allison Weir — Thanks to Government Inaction, Israel Has Become a Haven for International Scammers and Fraud


Corruption watch. The new "Nigerian" scam is now Israeli.

Mint Press News
Thanks to Government Inaction, Israel Has Become a Haven for International Scammers and Fraud
Allison Weir

Then there is the land grab at the state level.

Moon of Alabama
Netanyahoo's Likely Fall Destroys Trump's Middle East Strategy

Richard D. Wolff — The Narrowness of Mainstream Economics Is About to Unravel

Recent extreme volatility and sharp drops in US stock markets underscore the instability of capitalism yet again. As many commentators now note, another economic downturn looms. We know that all the reforms and regulations imposed in the wake of the Great Depression of the 1930s failed to prevent both smaller downturns between 1941 and 2008 and then another big crash in 2008. Capitalism’s instability has, for centuries, resisted all efforts to overcome it with or without government interventions. Yet mainstream economics mostly evades an honest confrontation with the social costs of such economic instability. Worse, it evades a direct debate with the Marxian critique that links those costs to an argument that system change would be the best and most “efficient” solution....
Truthout
The Narrowness of Mainstream Economics Is About to Unravel
Richard D. Wolff | professor of economics emeritus at the University of Massachusetts, Amherst, and currently a visiting professor in the Graduate Program in International Affairs of the New School University, New York City

Andrei Martyanov — Cutting Empire To Size, Or Yet Another "National Security" Crisis


What passes for US military strategy.

Reminiscence of the Future
Cutting Empire To Size, Or Yet Another "National Security" CrisisAndrei Martyanov

Andrei Martyanov cites this. It's a must read. Gripping account.

We Are The Mighty
That time a Marine general led a fictional Iran against the US military – and won
Blake Stilwell

See also
This year, the US has started to stress its intention of withdrawing from the 1987 INF Treaty not just because of Russia’s alleged non-compliance with it, but also because Asia has such delivery systems, particularly China. Donald Trump’s national security advisor, John Bolton, outlined Washington’s position during a recent visit to Moscow. The same message has previously been conveyed by the US president himself.…

Having announced the country’s unilateral withdrawal from the INF Treaty, Donald Trump’s administration is planning to enmesh both Europe and Asia in the new intermediate-range and shorter-range nuclear missiles that Washington decided to create a long time ago. Many countries around the world understand this perfectly. By deciding to terminate the INF Treaty, which previous US administrations have referred to as “a cornerstone of global stability”, America has clearly set itself two main objectives.
First, to significantly increase the level of America’s nuclear missile capabilities in global terms by creating a completely new strategic nuclear triad and modernising the country’s tactical nuclear weapons, the use of which in the first nuclear strike is indicated in a number of provisions amended by Donald Trump in the country’s nuclear strategy.
Second, to install its new ground-based intermediate-range and shorter-range mobile nuclear missiles in Japan and South Korea, which have been covered well in advance by America’s anti-missile shield.
Fort Russ
America’s Withdrawal From The INF Treaty: Clear Reasons And Ulterior Motives
Vladimir Kozin | Chief Adviser and the Head of the Group of Advisers to the Director of the Russian Institute for Strategic Studies, Presidential Administration. Member of the Russian Academy of Natural Sciences, Professor of the Russian Academy of Military Sciences

See also

China must submit to US hegemony — or else.

The Chinese leadership knows that US politics is volatile and the present administration won't be power forever. China can afford to play a waiting game in which the odds are in its favor.

Zero Hedge
Pence: "All-Out Cold War" Coming If China Doesn't Change Course; "We Won't Back Down"
Tyler Durden

Also

Even Macron refuses to submit France to the US.

RT
Being America’s ally does not mean becoming a vassal state — Macron

See also

Asia Times
Decoding the hypersonic Putin on a day of remembrance
Pepe Escobar

Gary Lite - The Secret Behind Numbers 3, 6, 9 Tesla Code Is Finally REVEALED!

I intended to put this out under the Truthmedia article but I had a long intro and I thought that people who might like this video could miss it.

Tesla felt that the numbers 3,6, and 9 had a very special significance and in this video Gary Lite tells us why.

Gary Lite is an occultist and has a number of off-beat and mystical articles far too strange for here, including this one, maybe, but look at the fascinating math in this? And it's all mixed up spirituality, at least according to Gary Lite.

Tesla believed 9 was a sacred number, here's one of the reasons why.

Why are there 360° in a circle, is it arbitrary? Well, divide 360 in half and you get 180. Now look at this -

360 : 3+6+0 = 9
180 : 1+8+0=9
90 : 9+0=9
45 : 4+5=9
22.5 : 2+2+5=9

And so on....

You mathematicians might know all this, but it was fascinating to me. This video is all about mathematical sequences like this. Yes, it's gets a little crazy in places with the occult stuff, but it's very interesting just the same.




With the introduction of Vortex-Based Mathematics you will be able to see how energy is expressing itself mathematically. This math has no anomalies and shows the dimensional shape and function of the universe as being a toroid or donut-shaped black hole. This is the template for the universe and it is all within our base ten decimal system! Numbers are Real and Alive not merely symbols for other things. You will discover that the relationships between numbers are not random or man-made but that numbers are actually elementary particles of which everything is composed. This lost knowledge was well known to our ancients and is now being uncovered for us today. Gradually you will come to see numbers in a simple yet profoundly perfect three-dimensional matrix grid pattern that forms the shape of a torus. The number grid reveals the calibration and timing for an engine that can take us throughout the universe and solve mankind’s energy needs. This math truly explains everything that ever was, is, and ever will be in the universe, perfectly, with no omissions.

A clearer look at the numbers 1 to 9 in circle.


Truthstream Media - Tesla Technology Has Been Revived

I'm a little maxed out on the politics at the moment, and as the elite are so intent of destroying the whole planet just to add a few more billions to the ones they already have, I've been looking into physics, string theory, and the multidimensions because maybe if the whole lot ever does goes up, there might be a bolt hole for us in the 4th, 5th, or whatever dimension to escape into. Could they be the dimensions of spirit?

Okay, it's all speculative, supposition, and metaphysics, but I'm enjoying this at the moment. So, anyway, I've read about Nicolas Tesla before but when I read he thought that one day he would be able to stick light bulbs in the air and light them up I kind of gave up on him, but what if he was actually onto something?

Truthmedia are most certainly conspiracy theorists, but this video is quite interesting as a private company has now developed a Tesla tower to transmit energy through the air.

Tesla built his tower 100 years ago with the backing of J.P.Morgan, but when Morgan asked if a meter could be fitted and Tesla said no, Morgan withdrew his money and that was the end of that. We could have had almost free energy and no global warming.



Lars P. Syll — In search of causality


Causality is one of the fundamental problems in philosophy, covering epistemology, philosophy of language, semiotics, and philosophy of science. Since causality is the basis of explanation, it applies to all aspects of understanding and theorizing, as Aristotle pointed out in his Metaphysics millennia ago. Yet, there is still no complete understanding of causality that would end controversy.

There many interrogatives — who, what, when, where, how and why, for example. Description involves the facts — what what, when, where, how much and how long, etc. Explanation involves means and ends — "how" (Greek techné) and "why" (telos).

Natural science deals chiefly with the how. "Speculation" deals with the why. Aristotle opined that all speculation begins with wonder. The Greek word for "speculate" that Aristotle uses is theorein. The root is theo which means god, or divine. Speculation is contemplative rather than active. It involves reflection on experience.

An archaic English term for "to speculate" is "to divine." It means to discern the inner workings. We see the sun rise and set and still speak of the "sunrise" and "sunset," but now we know that the sun is not actually moving at all; the rotational movement of the earth is "causing" the experience.

What we wonder about is a "puzzle" to us. The Greek term is aporia. The root means "impasse." This "causes" us to speculate about how and why in search of an explanation as a "theory."

In ancient time, most of the answers to such foundational questions involved supernatural causes expressed in myths, which were largely anthropomorphisms about natural forces. At the time of the Axial Age, interest shifted toward intellectual (logical) reasoning in place of myth as storytelling became less satisfying intellectually.

Aristotle was the first person in the West to systematize knowledge largely in the form that it has been handed down through the centuries in the West. He understood that a requirement for gaining true knowledge (epistemé) through inquiry was to understand reasoning, so he wrote books on logic as a prerequisite.

Aristotle was also understood that knowledge of the world comes through the senses and so he emphasized the role of observation in gaining knowledge. He was particularly interested in biology as a science understood as theory based on observation rather than storytelling.

Aristotle also recognized the existence of foundational issues that "come before," or are "meta," as we say even today. These are properly the issues for intellectual inquiry, which we still call "philosophy." meaning love of wisdom. Here the Greek term sophia means speculative wisdom rather than practical wisdom. Speculative wisdom is concerned with the way, while practical wisdom is concerned with the how.

Aristotle seems to have gotten off on the wrong foot in some instances, but overall the paradigm of knowledge he set forth still holds sway in the West. In fact, Aristotelianism is now making a comeback.

Today, we are still arguing about causality, what counts as causal explanation, and the degree to such ultimate explanation is possible given bounded rationality.

Lars P. Syll’s Blog
In search of causality
Lars P. Syll | Professor, Malmo University

Brian Romanchuk — The Financial Instruments Associated With Crises

This article is a continuation of previous comments on financial crises, with two lines of discussion. The first is a bit of a primer, explaining why I and other commentators associate financial crises with a buildup of private debt. The second part discusses the main problem with associating crises with private debt buildups: growth in debt stocks is by itself not enough to trigger a crisis. The catch is a variant of the efficient markets hypothesis: if we could easily forecast crises, it would be easy to outperform markets. However, other market participants are trying to do the same thing.…
Private sector financial crises are associated with private debt buildup. Unfortunately, we cannot expect simple rules based on debt growth to be able to accurately predict such crises.

Jonathan Cook — Long Read: The neoliberal order is dying. Time to wake up


Analysis from the left mostly about British politics but inclusive of all aspects of neoliberalism as the policy, strategy and tactics of elite power.

Says "long read," but it is not that long. Worth a read even if you are not British since it is also an analysis of elite power as it relates to national politics and neoliberal globalization.

Let's hope Cook is correct in seeing the wave cresting. The question then becomes will the breaking of the wave result in world war as the elite desperately tries to hang on to its waning power and control.

True Publica
Long Read: The neoliberal order is dying. Time to wake up
Jonathan Cook, award-winning British journalist based in Nazareth, Israel; author, and public intellectual as a voice of conscience

Tuesday, November 13, 2018

Branko Milanovic — What is happening with global inequality?


Mixed bag. The glass is half–full or half–empty, which matters based on which half one is in.
With domestic inequalities and “populism” taking center stage, the changes in global income inequality have understandably moved out of the focus. My access to the data—many of them still best obtained from the World Bank especially for poorer countries not covered by LIS—has also diminished since I left the World Bank. But one can still put together a quick update (thanks also to the contribution by Christoph Lakner) that covers the period up to 2013.…
We thus have only apparently paradoxical developments over the past 25 years: on the one hand, strongly rising global median income and the shrinkage of global inequality when measured by the synthetic indicators like the Gini or Theil; but, on the other hand, the rising share of the global top 1% and increasing number of people in relative poverty (mostly in Africa). The last point opens up again the vexed question of lack of convergence of Africa and its growing falling behind Asia (and of course the rest of the world).
So, is the world becoming better, as Bill Gates wants us to believe? Yes, in many ways, it is: the mean income in 2013 is almost 40% higher than in 1988, and global inequality is less. But is there a bad news too? Yes: the same share of the world population is being left behind and the top 1% are getting ever further away and richer than everybody else. So, we have, at the same time, the growth of the global “median” class and an increase in world-wide polarization.
Global Inequality
What is happening with global inequality?
Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International Peace

Clint Ballinger — Decouple Spending From Bond Sales


I would suggest considering limiting federal government "bond" sales — with "bonds" meaning term secretaries — to short term notes that are essentially cash equivalents that pay a bit of interest. Longer term government securities can be issue without a term limit, which makes them appear to be "debt" comparable to private debt.

The UK has already done this with "consoles."
Consols (originally short for consolidated annuities, but subsequently taken to mean consolidated stock) was a name given to certain government debt issues in the form of perpetual bonds, redeemable at the option of the government. They were issued by the U.S. Government and the Bank of England. The first British Consols were issued in 1751.

In 1752 the Chancellor of the Exchequer and Prime Minister Sir Henry Pelham converted all outstanding issues of redeemable government stock into one bond, Consolidated 3.5% Annuities, in order to reduce the coupon (interest rate) paid on the government debt.

In 1757, the annual interest rate on the stock was reduced to 3%, leaving the stock as Consolidated 3% Annuities. The coupon rate remained at 3% until 1888. In 1888, the Chancellor of the Exchequer, George Joachim Goschen, converted the Consolidated 3% Annuities, along with Reduced 3% Annuities (issued in 1752) and New 3% Annuities (1855), into a new bond, 2¾% Consolidated Stock, under the National Debt (Conversion) Act 1888 (Goschen's Conversion). Under the Act, the interest rate of the stock was reduced to 2½% in 1903, and the stock given a first redemption date of 5 April 1923, after which point the stock could be redeemed at par value by Act of Parliament.

In 1927 Chancellor Winston Churchill issued a new government stock, 4% Consols, as a partial refinancing of the National War Bonds issued in 1917 during World War One...
Consols were created to retire the stock (tally sticks) issued by the Crown and accepted in payment of taxes. They are fully negotiable in markets and are issued with a permanently fixed rate of interest.

Such securities can be considered as a form of equity ("stock") that pays a fixed "dividend" instead of as "debt" that pays interest. They would function in markets in essentially the same way as "bonds" of indefinite term. They could even be inflation-protected.

While this is essentially only an institutional change in legal verbiage, word do matter in persuasion. 

Would you feel safer owning "a piece of the country," or "government debt"? (rhetorical question.) Of course, then the claim would be "selling the country" to pay for whatever rather than "blowing out the debt" that "our children have to pay."

Randy Wray — A Better Way to Think about the “Twin Deficits”

(These remarks will be delivered today at the UBS European Conference in London.)
Multiplier Effect
A Better Way to Think about the “Twin Deficits”
L. Randall Wray | November 13, 2018

Paul Antonopoulos — AGAINST DEMOCRACY: U.S BLASTS DONBASS ELECTIONS AND THREATENS SANCTIONS


When elections don't go the way the US wants.
On Monday, the United States called the election of leaders and parliamentarians in the self-proclaimed people’s republics of Donetsk and Lugansk a “farce,” according to a spokeswoman for the US State Department, Heather Nauert.
On Sunday the two self-proclaimed people’s republics held elections for leaders and parliamentarians. Turnout in Donetsk reached 80.1% of voters, while in Lugansk the number was 77%, according to the central constituency committees of the republics.…
Fort Russ News
AGAINST DEMOCRACY: U.S BLASTS DONBASS ELECTIONS AND THREATENS SANCTIONS
Paul Antonopoulos

Benjamin I Page, Jason Seawright, Matthew J Lacombe — What billionaires want: the secret influence of America’s 100 richest

A new study reveals how the wealthy engage in ‘stealth politics’: quietly advancing unpopular, inequality-exacerbating, highly conservative policies...
How can this be so? If it is true, why aren’t voters aware and angry about it?

The answer is simple: billionaires who favor unpopular, ultraconservative economic policies, and work actively to advance them (that is, most politically active billionaires) stay almost entirely silent about those issues in public. This is a deliberate choice. Billionaires have plenty of media access, but most of them choose not to say anything at all about the policy issues of the day. They deliberately pursue a strategy of what we call “stealth politics”.
We have come to this conclusion based on an exhaustive, web-based study of everything that the 100 wealthiest US billionaires have said or done, over a 10-year period, concerning several major issues of public policy.... 
Our findings help illuminate how the political network assembled by the Koch brothers could have become so powerful. The Kochs have had a fertile field of less-well-known conservative billionaires to cultivate for hundreds of millions of dollars in in secret, unreported contributions. The Kochs’ entrepreneurship and organizational skills, together with stealthy contributions by these little-known billionaires, have produced a political juggernaut.
Both as individuals and as contributors to Koch-type consortia, most US billionaires have given large amounts money – and many have engaged in intense activity – to advance unpopular, inequality-exacerbating, highly conservative economic policies. But they have done so very quietly, saying little or nothing in public about what they are doing or why. They have avoided political accountability. We believe that this sort of stealth politics is harmful to democracy....
Benjamin I. Page, Fulcher professor of decision making; Jason Seawright, professor of political science, and Matthew J Lacombe, PhD candidate in political science, all at Northwestern University and co-authors of Billionaires and Stealth Politics (forthcoming 2018, University of Chicago Press)

See also

Le Monde — Le Blog de Thomas Piketty
Le Monde » and the billionaires
Thomas Piketty

Frigga Haug — Thirteen Theses of Marxism-Feminism


Didn't know that Marx was a feminist? Then you don't know about his wife, Jenny von Westphalen Marx. She was an aristocrat become social and political activist. Jacobin has the story of her life.
... we are in union with Marx, “to overthrow all relations in which man is a debased, enslaved, forsaken, despicable being”....
The German term Marx uses that is translated "man" here is Menschen. While it is correct to translate Menschen as "man" in the generic, non-gender specific sense, the German term means "human being" without specifying gender.

These are hardly "radical" proposals, as sopme would like picture all feminists, Marxist and otherwise.

They also indicate that Marx was very much a libertarian* and anarchist* who was concerned with gender issues as well as class issues as sociological phenomena that need to be addressed by political activists. Marx himself was only peripherally an economist. He was a philosopher that would have become an academic if times had been different, a free-lance journalist by profession, an independent thinker, and a political activist that was also married to a political activist.

* Of course, Marx was not a Libertarian (anarcho-capitalist) in the American sense.

International Marxist-Feminist Conference
Thirteen Theses of Marxism-Feminism
Frigga Haug, sociologist

See also

The Real Movement
It would be interesting to know what the average Marxist makes of this statement by Nick Land
Jehu

See also

Progress in Political Economy
Towards a queer Marxism
Bret Heino


Allan Savory - How to green the world's deserts and reverse climate change

Another optimistic video about climate change and how to reverse it.


Below is a really good video of how a man transformed a near dessert in the U.S. into to fertile and lush green land.

50 Years Ago, This Was a Wasteland. He Changed Everything | Short Film Showcase



Almost 50 years ago, fried chicken tycoon David Bamberger used his fortune to purchase 5,500 acres of overgrazed land in the Texas Hill Country. Planting grasses to soak in rains and fill hillside aquifers, Bamberger devoted the rest of his life to restoring the degraded landscape. Today, the land has been restored to its original habitat and boasts enormous biodiversity. Bamberger's model of land stewardship is now being replicated across the region and he is considered to be a visionary in land management and water conservation.