An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Thursday, July 30, 2020
U.S. GDP plunges by 33% in the second quarter, the worst drop in history — Connie Lin
In case you didn't catch this.
The US federal government is running a fiscal deficit that is also recordbreaking. But it is not targeted and is also doesn't do much for state and muncipal governments that are otherwise constrained by taxing or borrowing in financial markets.
Not looking good at this point, especially now that medical authories are saying that the pandemic is not going to be "over" as was and still is commonly expected, and it is a condition of life that the world will be living with for some timem, so adjust.
The tradeoff between health (publilc safety) and economics (prosperity, standard of living and welfare) is getting more obvious. There are as yet no criteria for dealing with this tradeoff in a way that is satisfactory for a majority, and in any case there will be losers, including fatalities.
Radical uncertainty in a complex adaptive system (world system including global economy) owing to emergence. Not only is this an epistemological issue involving knowledge but also an ontological one involving changing real conditions based on "an act of God" — meaning like really, really exogenous.
Fast Company
U.S. GDP plunges by 33% in the second quarter, the worst drop in history
Connie Lin
The response to the pandemic is a self-inflicted wound, and there needs to be accountability. Trump may receive the brunt of it.
ReplyDelete"Act of God"?
ReplyDeleteWhen clean and un-clean animals are clearly specified in the Old Testament?
(And what ever happened to the secular wisdom of "Lie down with dogs, wake up with fleas"?)
Just a reminder that while Christians are not under the Old Testament per se they'd best take it seriously.
Besides which, if we had a just economic system, it's unlikely that we'd have so much contact with societies that are oblivious to the Old Testament dietary laws.
May not be the food AA...
ReplyDeleteChicomms might have made it via combinative techniques... investigation underway...
“ involving changing real conditions based on "an act of God"
ReplyDeleteIt’s not the virus that caused the negative economic results it’s the POLICY response to the virus ...
Virus has done very little damage 150k dead out of >300M population...
You people talk of “the business cycle!” too like it’s an act of God or something... or the “GFC!” like monetary policy didn’t cause that...
It’s always policy...
“ Christians are not under the Old Testament per se they'd best take it seriously.”
ReplyDeleteShrimp Scampi... lobster rigatoni.... oysters &stout... baby back ribs.... shrimp & grits... steamed clams... Grilled calamari...
No way in hell im giving any of that up...
Probably why Israel got corrupted...
It’s always policy... Matt Franko
ReplyDeleteIf "policy" includes government privileges for private credit/debt creation, aka for "the banks", I agree.
Also, a money supply that contracts or doesn't grow enough makes as much sense as a blood supply that does/doesn't do so.
Matt "Forest Gump" Franko.
ReplyDeleteBacon I can understand but I've never liked sea bugs. Not Jewish that I know of but it's a possibility
Americans woke to 'demon sperm' trending on Twitter
ReplyDeletehttps://mashable.com/article/demon-sperm-trending-why/
Duh, "demon sperm" and human sperm should not be mixed! That should have been obvious, no?
Wouldn't want to corrupt those demons.
ReplyDelete“I've never liked sea bugs.“
ReplyDeleteYou don’t know what you are missing...
“ Also, a money supply that contracts or doesn't grow enough”
ReplyDeleteLOL you are a f.ing monetarist! LOL!!!!!!
Not a monetarist since I recognize, for example, that increasing the money supply of the poor has different effects than increasing the money supply of the rich.
ReplyDelete