Thursday, June 16, 2022

Biden stares down from Ukraine-economic ledge — David P. Goldman

What happens from not thinking things through. And David P. Goldman doesn't bring up the more extreme consequences that are not only possible but looking increasingly probable.

Asia Times
Biden stares down from Ukraine-economic ledge
David P. Goldman
https://asiatimes.com/2022/06/biden-stares-down-from-ukraine-economic-ledge/

See also  
The West has been inhabiting a fanciful world that could exist only in our imaginations. Many remain stranded in that self-deluded mirage. The more that we have invested in that fantasy world, the harder we find it to exit and to make the adjustment — intellectual, emotional, behavioral.
An assessment of where we are, where we might go and the implications over time of the reactions of other parties is a singularly complex undertaking....
Consortium News
Last Tango in Washington?
Michael Brenner | professor of international affairs at the University of Pittsburgh
https://consortiumnews.com/2022/06/16/last-tango-in-washington/

14 comments:

Peter Pan said...

"We're changing people's lives!" - Joseph Robinette Biden

It's double down time.

Peter Pan said...

When you see a photograph of top US officials wearing face masks, that is a sign that these people are idiots.

Putin has to play hardball, and turn off the gas.

Matt Franko said...

“ the world’s third-largest economy is financing itself by the printing press.”

Guy’s a monetarist idiot…

Matt Franko said...

“ the harder we find it to exit and to make the adjustment”

Where in the Socrates playbook does it say to make an adjustment?

NeilW said...

Lot of them about Matt. They are cock-a-hoop at the moment.

I met Michael Bordo the other day while at the Bank of England. His takeaway was "Now we have inflation we won't be hearing so much about MMT". He reckoned they'd change the interest rate target instead upwards from 2%.

Matt Franko said...

2675 katartízō (from 2596 /katá, "according to, down," intensifying artizō, "to adjust," which is derived from 739 /ártios, "properly adjusted") – properly, exactly fit (adjust) to be in good working order, i.e. adjusted exactly "down" to fully function.

https://biblehub.com/greek/2675.htm

Where in the Socrates playbook does he tell his students to do this?

Then this idiot says “well… gee… we don’t ever seem to make the adjustment? “

They’re not supposed to… it’s not supposed to work that way…

Matt Franko said...

What’s that target Neil? The target for “inflation!” or the target for their policy rate?

Matt Franko said...

https://www.washingtonexaminer.com/policy/defense-national-security/russia-lost-troops-milley-says

“ Russian military has lost '20-30%' of troops in Ukraine, Milley says”

Then in another year at same tempo they lose them all… looking good..,, just keep supplying Ukraine as long as they want to keep fighting… grind it out domestically for another year no POTUS election for 2 years.,, blame domestic problems created on “the Fed!” and “greedy oil companies!”…

Then if you ever wanted to do Syria/Lebanon get with Turkey and Israel to do that now with Russia occupied in Ukraine…

Then if you are China you wouldnt just sit there you might quick grab Siberia …

Lots of ways this could go..,

mike norman said...

"Russia has lost 20-30% of its troops in Ukraine."

First of all, that's bullshit, and second of all, it's meaningless to the Russians if true. They will continue to fight and escalate pushed to the wall. Read Russian war history.

Matt Franko said...

Well are they saying lost “30% of military” or “30% of military IN UKRAINE”?

I’d be surprised if it was the former.,,

Matt Franko said...

If it is the former then you gotta try to keep going.,, too good an opportunity…

Kes said...

Most of the reasons bandied about as to why Putin invaded Ukraine are clearly nonsense, unless he is insane. Denazification? Reclaiming lost Russian territory? A buffer zone between evil NATO and Mother Russia proper? Winning a popular war to burnish his tough guy image and distract his 'voters' from the failing economy/massive corruption (of which he is the main beneficiary)? They all seem implausible to me.

I watched a 40 minute video by Real Life Lore on YouTube which does seem very plausible, and does not presume insanity on Putin's part.

The post title is a quote from the video; he wants to be CEO of a state-owned/controlled monopoly, but a qualification for that is being President. Anything he does to remain in power is to be able to permanentaly re-appoint himself as CEO. He also has to run oil and gas half way competently to be able to pay off his selected oligarchs, with a bit left over to bribe the electorate.

Basically, all his invasions and interventions - Georgia, Chechnya, even Syria, annexing The Crimea, arming Donbas separatists, and now Ukraine proper - are about securing oil and gas reserves and/or controlling pipelines and ports (Black Sea, Aral Sea). Russia either takes the territory directly or bullies neighbouring countries into compliance (Kazakhstan, Byelorussia, Azerbaijan). There are also apparently lots of gas reserves in the Sea of Azov, which Russia now has surrounded.

And Putin got away with all the previous incursions, the West did little to stop him apart from a few token sanctions, so he thought we would turn a blind eye to this one, which we didn't. Sleepy Joe as good as declared war on him personally.

Which is also why Putin couldn't care less if he carpet bombs the Donbas and Mariupol back to the Stone Age, he needs to control the geographic territory, not the people. They are superfluous to requirements (and he'd rather they all fled, today's civilian is tomorrow's partisan).

Matt Franko said...

Sure you can always just drill down thru the bodies.,,

NeilW said...

The target for inflation Matt. When interest rate changes don't work they change the target to whatever turns up. Much like they did with the definition of full employment.