Remainers claim that Brexit will be an economic apocalypse. But it provides the opportunity for a radical break with neoliberalism.Jacobin
Why the Left Should Embrace Brexit
Thomas Fazi and Bill Mitchell
Remainers claim that Brexit will be an economic apocalypse. But it provides the opportunity for a radical break with neoliberalism.Jacobin
8 comments:
The Jacobin blog pretends that Brexit provides the opportunity for a radical break with neoliberalism.
Please.
We all know that the UK will remain neoliberal with or without Brexit.
The neoliberal plague has infected all but a handful of the world’s 198 nations. It has even infected Israel and Iran. (I don’t have the space to explain that here.)
Meanwhile, with or without Brexit (indeed with or without neoliberalism) the euro-zone will continue to be disastrous for member nations that have trade deficits (e.g. Greece and France).
The UK is not part of the euro-zone, but it will continue to die because of neoliberalism.
Vice President of the ECB, Vítor Constâncio yesterday.....
Some commentators were nevertheless concerned by the increasing size of the ECB balance sheet. Based on the high long-run correlation between inflation and money growth, they interpreted the huge growth in the ECB monetary base as a signal of future high inflation risks. These fears obviously disregarded three things: first, no theory of inflation is directly related with the central bank’s balance sheet;
It is Draghi's Giuliani moment
Draghi has lied so long now about QE and interest rates to manipulate the Euro he has backed himself into a corner he can't get out of with his double speak.
Draghi knows full well the only way out this is mess is to stop QE and start increasing interest rates but he can't
a) He's lied for so long abou it
b) He has to face the Germans when inflation rises
It was always going to be about Germany and Germany has a choice now that both the UK and the USA are in rate hike mode. Japan has the same choice
1) Draghi do nothing which means the Euro gets stronger and destroys their exports
2) Draghi stops QE and starts increasing interest rates and they put the ghost of Weimer to bed once and for all.
Vítor Constâncio has done Draghi a favour and I wouldn't be suprised if it was planned.
It's as if these fools don't look at any charts
1) Pick Theory
2) Test Theory
3) Check Data
Are we really sayinG these arseholes don't check Data ?
https://d3fy651gv2fhd3.cloudfront.net/charts/argentina-interest-rate.png?s=apdr1t&v=201805041641v&d1=20130101&d2=20181231&url2=/argentina/inflation-cpi
https://d3fy651gv2fhd3.cloudfront.net/charts/russia-interest-rate.png?s=rrefrate&v=201804271040v&d1=20130101&d2=20181231&url2=/russia/inflation-cpi
I wouldn't be suprised if Warren is phoning Argentina as we speak.
Foot,
No way they are lying this is what is taught in the academe about how "money!" works... it's textbook monetarism 101...
and they do not posses the cognitive skills to figure it out otherwise they were never trained in those skills...
They are stuck believing this falsehood and can't get out of it...
No rate increases until sometime in 2019 at the earliest iirc...
One thing is imo Trump will not let the Fed accelerate its current rate path in the face of no corresponding rate increases in the other majors ie EUR, JPY and GBP....
We are picking up instead perhaps an increase in the rate that the Fed lets the QE run off as "quantitative tightening" (to them) which is good news finally to us...
Trump probably thinks he understands rates but this QE stuff might be under the radar for Trump... so Fed perhaps thinks it can shift over to Quantitative Tightening (to them) and pull one past Trump who is watching their rate policy like a hawk ready to pounce on Twitter...
"Are we really sayinG these arseholes don't check Data ?"
Uh.. yes ... we are...
They are all Art majors not Science majors.... they are not trained in scientific methods... trained in clarinet and oboe.... unqualified...
Europe's best chance right now is for US slow reversal of monetary policy coupled with current 3%+ YoY fiscal spending increases will eventually lead Europe (thru exporting) to start to reverse ECB current monetary policies for rates and reserve assets...
Trump stands in the way of this btw he is next on Merkel's shit to balance the German trade once he finishes with Chyina...
It's fooking crazy Matt
No wonder the nutjobs shout Weimar, Zimbabwe, Venezula and Now Argentina at us all the time.
The central banks just keep feeding the zoo !
They need better people in there....
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