Saturday, May 28, 2022

Should Congress Shrink the Deficit to Fight Inflation? — Stephanie Kelton

Last month, I was in Brussels for a client event. Instead of the usual keynote address, I did a fireside chat with one of their senior market analysts. He put seven questions to me and then moderated an extended Q&A with the audience. It was a lot of fun.


Unfortunately, because it was a private event, there’s no recording for me to share with you. But I thought the questions—and my responses—might be of interest. To avoid writing one really long post, I’ve decided to divide it into a seven-part series.


I’ll answer the first question today, but here’s a preview of what’s to come.…
The Lens
Should Congress Shrink the Deficit to Fight Inflation?
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders
https://stephaniekelton.substack.com/p/should-congress-shrink-the-deficit

Also

The event is entirely virtual this year. It’s also free and open to the public.
Bravo!

The 4th Annual MMT Conference




The Purpose of a Liberal Arts Education — Gonzalo Lira

 


Good description of what a liberal arts education used to be but no longer is.

The Purpose of a Liberal Arts Education
Gonzalo Lira
https://youtu.be/Z_FBkZL3b9I

The Eurasian Economic Union Steps Up — Pepe Escobar

The EAEU comprises five full members – Russia, Kazakhstan, Kyrgyzstan, Belarus and Armenia – yet 14 nations sent delegations to the forum, including China, Vietnam and Latin American nations.…
The Eurasian Economic Forum was established by the Supreme Eurasian Economic Council explicitly to further deepen economic cooperation between EAEU members. No wonder the official theme of the forum was Eurasian Economic Integration in the Era of Global Shifts: New Investment Opportunities, focusing on strategic development in the industrial, energy, transport, financial, and digital areas.

President Putin’s speech to the plenary session was quite revealing. To really appreciate the scope of what’s implied, it’s important to remember that the Greater Eurasian Partnership concept was presented by Putin in 2016 at the St. Petersburg Economic Forum, focused on a “more extensive Eurasian partnership involving the Eurasian Economic Union” and including China, Pakistan, Iran and India.

Putin stressed how the drive for developing ties “within the framework of the Greater Eurasian Partnership” (…) “was not the political situation but global economic trends, because the centre of economic development is gradually – we are aware of this, and our businesspeople are aware of this – is gradually moving, continues to move into the Asia-Pacific Region.”

He added, “in the current international conditions when, unfortunately, traditional trade and economic links and supply chains are being disrupted”, the Greater Eurasian Partnership “is gaining a special meaning.”

 Putin established a direct connection not only between the Greater Eurasian Partnership and EAEU members but also “BRICS members such as China and India”, “the Shanghai Cooperation Organization, ASEAN and other organizations.”

And that’s the core of the whole, ongoing, multi-layered process of Eurasia integration, with the China-led New Silk Roads intersecting with the Eurasia Economic Union, the SCO, BRICS+, and other converging strategies.
Read the whole post. It's even more expansive than this, encompassing the entire Global South/East. This is advancing quickly, spurred by Western unipolarism in the form of globalization under neoliberalism, neo-imperialism and neocolonialism that the South/East countries view as a form of fascism instead of true liberalism and insofar as it is "liberal," it is anti-traditionalist, while the majority of the South/East is culturally and institutionally traditionalist.
Putin for his part was careful to define the Greater Eurasian Partnership as “a big civilizational project. The main idea is to create a common space for equitable cooperation for regional organizations”, changing “the political and economic architecture on the entire continent.”

The world is changing fast. 

The Vineyard of the Saker
http://thesaker.is/the-eurasian-economic-union-steps-up/

Does Ukraine Need To Be Denazified? — Iain Davis

There is a lot of debate over the role of neo-Nazism both in Ukraine and and in today's world, where it also goes by the name "fascism," although "fascism" is often used more broadly to include those that do not express specifically Nazi ideas, dress, or paraphernalia, but rather Nazi-like ideas and behavior. Sometimes there is a fine line here. Russia regards the West as primarily fascistic rather than as Nazi or truly liberal, as do many in the West on both left and right, as well as many in the Global South. 

For example, American or Western "exceptionalism" can be viewed as an expression white supremacy and the right to rule the rest based on it, whether this is conscious and intentional or not. For some it is conscious and intentional but in an environment of cultural racism is so endemic that many do not even realize it or cannot see it when it is pointed out to them. It has been an issue in the US since the founding owing to the incorporation of slavery into the Constitution. The US fought a civil war over this and that war is still smoldering, occasionally breaking out into violence.

This is a major subtext of contemporary politics and geopolitics. Ukraine is just one instance of this issue rearing its head violently.

Regarding Ukraine, not all those accused of being Nazi are readily identified as such, but rather as fascist. However, many are readily identifiable as Nazi and some of those are in positions of power, and they were put there with the connivance of the West, the US in particular after the Maidan.

The following is a recently published article exploring this phenomenon in Ukraine. It is a bit longish and detailed, so good weekend reading.

UK Column (13 My 2022)
Does Ukraine Need To Be Denazified? 
Iain Davis
https://www.ukcolumn.org/article/does-ukraine-need-to-be-denazified


Friday, May 27, 2022

Solidarność

 



Where it all started… if Russia fucks with Poland it might really be on…  many are either too old or too young to understand… 


Backgrounder here.









“Make the Adjustment”

 

Umpire is Art Degree all the way (or uneducated and polluted with Art Degree tendency) … Art Degree morons no ability to make adjustments… 








Why the British state is a magic money tree — Josh Ryan-Collins

 Excellent summary of basic MMT principles with specific reference to British institutions and policy.

The New Statesman
Why the British state is a magic money tree
Josh Ryan-Collins is an associate professor in economics and finance at the UCL Institute for Innovation and Public Purpose

Dear Ursula, you are dead wrong — Jorge Vilches

Longish and detailed, but definitive summary of oil situation in Europe.

The Vineyard of the Saker
Dear Ursula, you are dead wrong
Jorge Vilches for the Saker Blog
http://thesaker.is/dear-ursula-you-are-dead-

Former Virginia State Senator and Purple Heart Winner Warns: “We’re at a 1914 Moment Jeremy Kuzmarov interviews — Col. (ret.) Richard Black

This is a somewhat longish interview but it is worth reading in full owing to the experience of Col. Black.

Covert Action Magazine
Former Virginia State Senator and Purple Heart Winner Warns: “We’re at a 1914 Moment
Jeremy Kuzmarov interviews Col. (ret.) Richard Black
wrong/https://covertactionmagazine.com/2022/05/27/former-virginia-state-senator-and-purple-heart-winner-warns-were-at-a-1914-moment/

Links — 27 May 2022 Part 1

The Vineyard of the Saker
Batiushka for The Saker Blog
https://www.blogger.com/blog/post/edit/2761684730989137546/2209055447703728436#

Moon of Alabama
As Things Fall Apart Biden May Want To Escalate ("Combined Biden" have decided to attempt to inflict a strategic defeat on Russia and are already escalating.)
https://www.moonofalabama.org/2022/05/as-things-fall-apart-biden-may-want-to-escalate.html

Zero Hedge
Biden Readies Approval Of Long-Range Rockets To Ukraine - Russia Warns Over "Red Line" (when does the "special military operation" turn into war? BoJo tells Z not to negotiate.)
https://www.zerohedge.com/geopolitical/us-prepares-approve-long-range-rockets-ukraine-russia-warns-over-red-line

China's Military Must Be Able To Destroy SpaceX's Starlink Satellites: Researchers
Tyler Durden
https://www.zerohedge.com/technology/chinas-military-must-be-able-destroy-spacexs-starlink-satellites-researchers

Asia Times
China aims to take out Elon Musk’s Starlink satellites (dual-use)
Gabriel Honrada
https://asiatimes.com/2022/05/china-aims-to-take-out-elon-musks-starlink-satellites/

Antiwar
US General Floats Military Options to Help Export Ukrainian Grain (Gen. Cavoli is nominated to be NATO's next commander)
Dave DeCamp
https://news.antiwar.com/2022/05/26/us-general-hints-at-military-options-to-help-export-ukrainian-grain/

Reminiscence of the Future
A Bit Of Military Porn.
Andrei Martyanov, former USSR naval officer and expert on Russian military and naval issues
http://smoothiex12.blogspot.com/2022/05/a-bit-of-military-porn.html

CaitlinJohnstone.com
MSM Offers Rare Glimpse Into How Bad Things Are Really Going For Ukrainian Forces
Caitlin Johnstone
https://caitlinjohnstone.com/2022/05/27/msm-offers-rare-glimpse-into-how-bad-things-are-really-going-for-ukrainian-forces/  

The Internationalist 360º
Hugo Turner
https://libya360.wordpress.com/2022/05/26/the-battle-for-the-donbass/

India Punchline
Indo-Pacific power dynamic in radical shift (US expansionism and Japanese militarism and revanchism meet Sino-Russian alliance)
M. K. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassador
https://www.indianpunchline.com/indo-pacific-power-dynamic-in-radical-shift/

Katehon (Russian Traditionalist orthodox Christian think tank alleged by the US to be linked to the Russian state)
Leonid Savin
https://katehon.com/node/83262

One World
Putin Touched Upon Russia’s Grand Geo-Economic Strategy In Eurasia (Eurasia emerging as an economic and power center to counterbalance the West)
https://oneworld.press/?module=articles&action=view&id=2915

https://oneworld.press/?module=articles&action=view&id=2914
Andrew Korybko, American geopolitical analyst and independent journalist based in Moscow, and member of the expert council for the Institute of Strategic Studies and Predictions at the People’s Friendship University of Russia

Oilprice
Russia Sends Record Volumes Of Oil To India, China
Tsvetana Paraskova 
https://oilprice.com/Energy/Crude-Oil/Russia-Sends-Record-Volumes-Of-Oil-To-India-China.html

Personal consumption and expenditures — Warren Mosler

Graphs.

The Center of the Universe
Personal consumption and expenditures
Warren Mosler

Thursday, May 26, 2022

Links — 26 May 2022 Part 2

Reminiscence of the Future
They Begin To Feel The Pinch. Or, Didn't I Tell You So?
Andrei Martyanov, former USSR naval officer and expert on Russian military and naval issues.
http://smoothiex12.blogspot.com/2022/05/they-begin-to-feel-pinch-or-didnt-i.html

The Vineyard of the Saker
Andrei Martyanov: Davos “news”, real resources, Operational Art-2 (video)
http://thesaker.is/andrei-martyanov-davos-news-real-resources-operational-art-2/

Gonzalo Lira: Lysychansk, fire control, retreat and truth
https://www.blogger.com/blog/post/edit/2761684730989137546/5996046215257688374#

Oilprice
Why You Should Care About The Price Of Diesel
Josh Owens
https://oilprice.com/Energy/Energy-General/Why-You-Should-Care-About-The-Price-Of-Diesel.html

Sputnik International (Russian state-sponsored media)
https://sputniknews.com/20220526/china-russia-veto-us-sponsored-unsc-resolution-on-north-korea-1095810725.html


Quote of the week: Ha-Joon Chang on liberalism, ‘the most confusing term in the world’ — Nick Johnson

The Political Economy of Development
Quote of the week: Ha-Joon Chang on liberalism, ‘the most confusing term in the world’
Nick Johnson

Stanford Encyclopedia of Philosophy
https://plato.stanford.edu/entries/liberalism/

Legal Dictionary
https://legaldictionary.net/liberalism/


Links — 26 May 2022 Part 1

The Vineyard of the Saker
Sitrep Operation Z: + consequences = petty Tabaquis howling
The Saker Staff
http://thesaker.is/sitrep-operation-z-consequences-petty-tabaquis-howling/

Vladimir Putin addressed the plenary session of the 1st Eurasian Economic Forum
http://thesaker.is/vladimir-putin-addressed-the-plenary-session-of-the-1st-eurasian-economic-forum/

A Son of the New American Revolution
The Truth About the $40 Billion Ostensibly Being spent to arm Ukraine
https://sonar21.com/the-truth-about-the-40-billion-ostensibly-being-spent-to-arm-ukraine/

Let’s Talk Game changers in Ukraine and the Future
https://sonar21.com/lets-talk-game-changers-in-ukraine-and-the-future/
Larry C. Johnson | CEO and co-founder of BERG Associates, LLC, an international business-consulting firm with expertise combating terrorism and investigating money laundering, formerly Deputy Director in the U.S. State Department’s Office of Counter Terrorism (1989-1993, and CIA operations (1984-1989)

Reminiscence of the Future
About Force Multipliers And Game-Changers. By Larry.
Andrei Martyanov, former USSR naval officer and expert on Russian military and naval issues
http://smoothiex12.blogspot.com/2022/05/about-force-multipliers-and-game.html

Naked Capitalism
The Danger of Underestimating Russia
Yves Smith
https://www.nakedcapitalism.com/2022/05/the-danger-of-underestimating-russia.html

Southfront (sanctioned by the US Treasury Department)
Russian Forces Capture First US-Made Switchblade Loitering Munition In Donbass (Photos)
https://southfront.org/russian-forces-capture-first-us-made-switchblade-loitering-munition-in-donbass-photos/

Briefing by Russian MoD On Morning Of May 26, 2022
https://southfront.org/briefing-by-russian-mod-on-morning-of-may-26-2022/

SouthFront.org Is Under Attack
https://southfront.org/southfront-org-is-under-attack-2/

One World
Why’s Kiev Finally Telling The Truth About The Eastern Ukrainian Front?
Andrew Korybko, American geopolitical analyst and independent journalist based in Moscow, and member of the expert council for the Institute of Strategic Studies and Predictions at the People’s Friendship University of Russia
https://oneworld.press/?module=articles&action=view&id=2913

RT — Question More (Russian state-sponsored media)
US launches ‘China House’("team of diplomats focused on coordinating policy to confront Beijing")
https://www.rt.com/news/556153-blinken-china-house-policy-shift/

EU not prepared for war – top diplomat [Josep Borrell]
https://www.rt.com/news/556147-josep-borrell-war-eu-unprepared/?

Sputnik International (Russian state-sponsored media)
Ukraine Warns ‘Something Should Happen’ to Pipeline Delivering Russian Oil to Hungary
https://sputniknews.com/20220526/ukraine-warns-something-should-happen-to-pipeline-delivering-russian-oil-to-hungary-1095802828.html

TASS (Russian state media)
Russia’s latest weapons offer better results with fewer troops in Ukraine, deputy PM says (force multiplier)
https://tass.com/defense/1456129

Zero Hedge
Ruble Slides From 4-Year-High On Russian Rate-Cut
Tyler Durden
https://www.zerohedge.com/markets/ruble-slides-4-year-high-russian-rate-cut

China Builds World's First AI-Powered Drone Carrier For Maritime Operations
https://www.zerohedge.com/technology/china-builds-worlds-first-ai-powered-drone-carrier-maritime-operations














Bill Mitchell – Australia – business capital expenditure declines in March-quarter but outlook remains positive

The Australian Bureau of Statistics released the latest version of – Private New Capital Expenditure and Expected Expenditure, Australia – today (May 26, 2022), which is part of several releases leading up to the publication of the March-quarter National Accounts next Wednesday. Today’s business investment data shouws that private new capital expenditure in Australia fell by 0.3 per cent in the March quarter but was up by 4.5 per cent on the year. With the uncertainty continuing about the extent and duration of the current supply-side disruptions, the decline in business investment was, in fact, modest. And the expected investment plans signal that there is still no sense of crisis among those responsible for capital expenditure. One of the challenges facing the new Federal government is to maintain optimism in the economy in order to avoid the current-quarter decline in business investment becoming consolidated. If the new Treasurer keeps harping on about the $A1 trillion debt and the need to cut the fiscal deficit, they will fail that challenge and business will get spooked and we will head towards recession with on-going inflationary pressures....
Bill Mitchell – billy blog
Australia – business capital expenditure declines in March-quarter but outlook remains positive
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

Wednesday, May 25, 2022

Links — 25 May 2022 Part 1

The Vineyard of the Saker
NATO vs Russia: what happens next
Pepe Escobar
http://thesaker.is/nato-vs-russia-what-happens-next/

Grains of deceit (disinformation over Russian blockage of ports shipping wheat to provide an excuse for NATO intervention in the Black Sea.)
Natsouth
http://thesaker.is/grains-of-deceit/

India Punchline
Ukraine after 90 days of war (Ukrainian forces in the ropes in Donbass.)
M. K. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassador
https://www.indianpunchline.com/ukraine-after-90-days-of-war/

Bill Mitchell — Presentation to Economic Society of Australia

It’s Wednesday and I just finished a ‘Conversation’ with the Economics Society of Australia, where I talked about Modern Monetary Theory (MMT) and its application to current policy issues. Some of the questions were excellent and challenging to answer, which is the best way. You can view an edited version of the discussion below and then enjoy The Meters....
Bill Mitchell – billy blog
Presentation to Economic Society of Australia
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

Tuesday, May 24, 2022

How I Learned To Stop Worrying And Love Shadow Banking... — Brian Romanchuk

I had an article planned and started, but I got caught up with events. Instead, I just wanted to make a few comments about the dreaded “shadow banking” sector — non-bank finance. I had seen a few articles complaining about lack of regulation and risks posed by shadow banks, which I think is just extrapolating the last financial crisis.

I had written a sequence of articles on banks (first one here), in which I emphasised that financial flows are circular. If the flows are not circular, things break, and you get a crisis. The issue is that shadow banking is outside the view of regulators, and hence things can blow up.
Bond Economics
How I Learned To Stop Worrying And Love Shadow Banking...
Brian Romanchuk
http://www.bondeconomics.com/2022/05/how-i-learned-to-stop-worrying-and-love.html

Links — 24 May 2022 Part 1

The Vineyard of the Saker
Sitrep Operation Z: ‘The Grind’ is mainly done for now – Donbas Arc lights up like a solar storm
The Saker Staff
http://thesaker.is/sitrep-operation-z-the-grind-is-mainly-done-donbas-arc-lights-up-like-a-solar-storm/

The Secret American Plan to Make Russia Great Again
Dmitry Orlov for the Saker Blog
http://thesaker.is/the-secret-american-plan-to-make-russia-great-again/

History is Being Written Before our Eyes
Batiushka for The Saker Blog
http://thesaker.is/history-is-being-written-before-our-eyes/

A Son of the New American Revolution
Looks Like CNN and Rest of The American Media Are Growing Weary of the war in Ukraine
Larry C. Johnson | CEO and co-founder of BERG Associates, LLC, an international business-consulting firm with expertise combating terrorism and investigating money laundering, formerly Deputy Director in the U.S. State Department’s Office of Counter Terrorism (1989-1993, and CIA operations (1984-1989)
https://sonar21.com/looks-like-cnn-and-rest-of-the-american-media-are-growing-weary-of-the-war-in-ukraine/

India Punchline
IPEF will be a hard sell in Indo-Pacific
M. K. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassador
https://www.indianpunchline.com/ipef-will-be-a-hard-sell-in-indo-pacific/

Moon of Alabama
Flag Abuse And Other Bits On Ukraine
https://www.moonofalabama.org/2022/05/flag-abuse-and-other-bits-on-ukraine.html

CaitlinJohnstone.com 
They’re Just Outright Telling Us That Peace In Ukraine Is Not An Option (CJ is a bit naïve. She is unaware that this was the objective of expanding NATO eastward in the first place and later the coup that overthrew the Ukrainian democratically elected government. It's part of the larger plan to take down Russia and China to cement Western (read "white captialist") domination globally. The notion that Russia's invasion of Ukraine was unprovoked is a figment of an information war that is part of the multi-domain operations being used to attack Russian and China on all levels from the cultural to the military, including the potential for "limited" nuclear war to accomplish this objective if need be.)
Caitlin Johnstone
https://caitlinjohnstone.com/2022/05/24/theyre-just-outright-telling-us-that-peace-in-ukraine-is-not-an-option/

TASS (Russian state media)
West ignores others’ sovereignty for the sake of "golden billion" — SC secretary [Nikolay Patrushev]
https://tass.com/politics/1455011
https://tass.com/world/1454961

American Committee for US-Russian Accord
Paul Robinson’s Testimony Before the Canadian Parliament on Human Rights Violations in Ukraine
Irrussianality
Paul Robinson | Professor, Graduate School of Public and International Affairs at the University of Ottawa
https://usrussiaaccord.org/paul-robinsons-testimony-before-the-canadian-parliament-on-human-rights-violations-in-ukraine/

The Unz Review
Biden Administration’s Ministry of Truth Stumbles, by Philip Giraldi
Philip Giraldi, former CIA counter-terrorism specialist and military intelligence officer, now Executive Director of the Council for the National Interest and founding member of the Veteran Intelligence Professionals for Sanity
https://www.unz.com/pgiraldi/biden-administrations-ministry-of-truth-stumbles/

The Hill
NATO chief: ‘Freedom is more important than free trade’
Zach Wendling
https://thehill.com/policy/international/3499626-nato-chief-freedom-is-more-important-than-free-trade/

Popular Resistance
UN: Four Key Climate Indicators Broke Records in 2021 (greenhouse gas concentrations, ocean acidification, ocean temperature and sea level rise)
Olivia Rosane, EcoWatch
https://popularresistance.org/un-four-key-climate-indicators-broke-records-in-2021/

Monday, May 23, 2022

Rising interest rates could lead the central bank to pay out more in interest than it earns

 

We told you this years ago… now WSJ finally catching up…

WSJ parroting Mike’s long held opinion; saying it would cause a “political problem” but imo negative equity position technically implies insolvency or a pending insolvency…

It’s also funny here that WSJ refers to “rising interest rates!” as if the Fed itself doesn’t control the interest  rate…

All they have to do to avoid this problem is not increase the rates above what their short term liabilities will allow… which is about another 1%…



Mike beaks it down in a YouTube here along with his daily markets summary:









An Important Headline — Andrei Martyanov (video 28.00)

 


An Important Headline
Andrei Martyanov, former USSR naval officer and expert on Russian military and naval issues. Martyanov was born in Baku, USSR in 1963. He graduated from the Kirov Naval Red Banner Academy and served as an officer on the ships and staff position of Soviet Coast Guard through 1990. He took part in the events in the Caucasus which led to the collapse of the Soviet Union. In mid-1990s he moved to the United States where he currently works as Laboratory Director in a commercial aerospace group. He is a frequent blogger on the US Naval Institute Blog. He is author of Losing Military Supremacy, The (Real) Revolution in Military Affairs, and Disintegration: Indicators of the Coming American Collapse — Clarity Press
https://youtu.be/_BKT_32HcCg

Why Biden’s off-the-cuff comment about defending Taiwan matters — Jonathan Guyer

Ukraine and Taiwan are entirely separate matters from the military point of view, so that comparisons are peripheral But the two are identical from the point of view of the national security of Russia and China, alone and together, in that the fall of one ensures the eventual fall of the other. 

Strategically, Taiwan is needed by the US to successfully prosecute a war against  China, as Ukraine was with respect to NATO engaging Russia. But their Russia and China present existential threats to the US or even threats to US national security. It is a stretch to argue that they impinge on vital US national interests.

Therefore, they are existential for both Russia and China but discretionary for the US. For the US, this is purely a matter of serving the interest of the ruling elite that wishes to extend and cement US Post-WWII global dominance and the economic benefit this bestows.

Whether the US can undertake this endeavor successfully is another issue.

Vox
Why Biden’s off-the-cuff comment about defending Taiwan matters
Jonathan Guyer

Links — 23 May 2022 Part 1

The Vineyard of the Saker
Amarynth for the Saker Blog
http://thesaker.is/sitrep-180-hot-potato-ritter-lira-johnson-and-martyanov/

A Son of the New American Revolution
Debating Scott Ritter
Larry C. Johnson | CEO and co-founder of BERG Associates, LLC, an international business-consulting firm with expertise combating terrorism and investigating money laundering, formerly Deputy Director in the U.S. State Department’s Office of Counter Terrorism (1989-1993, and CIA operations (1984-1989)
https://sonar21.com/debating-scott-ritter/

Reminiscence of the Future
Larry Wrote An Excellent Counter-Argument To...
Andrei Martyanov, former USSR naval officer and expert on Russian military and naval issues
http://smoothiex12.blogspot.com/2022/05/larry-wrote-excellent-counter-argument.html

Energy Intelligence (May 18, 2022)
Ukraine War Has No End in Sight (If you aren''t up on the change in Scott Ritter's position.)
0Scott Ritter, former US Marine Corps intelligence officer, serving in the Soviet Union as an inspector implementing the INF Treaty, on General Schwarzkopf’s staff during the Gulf War, and from 1991-1998 as a UN weapons inspector
https://www.energyintel.com/00000180-d669-d410-aba9-f66dbd120000

Internationalist 360º
Ukraine’s Nazi Connection and the British National Cover-up
Brett Redmayne-Titley
https://libya360.wordpress.com/2022/05/22/ukraines-nazi-connection-and-the-british-national-cover-up/

Asia Times
In Tokyo, Biden puts two boots into China—President says US will definitely stand by Taiwan if attacked while kicking off talks on ex-China Indo-Pacific Economic Framework (Biden verbally commits US to fight for Taiwan as he apparently abandons strategic ambiguity.)
Andrew Salmon
https://asiatimes.com/2022/05/in-tokyo-biden-puts-two-boots-into-china/

Moon of Alabama
White House Rejects President's Foreign Policy

https://www.moonofalabama.org/2022/05/white-house-rejects-presidents-foreign-policy.html

The Unz Review
Neocon Propaganda Backfires
Kevin Barrett
https://www.unz.com/kbarrett/neocon-propaganda-backfires/

Zero Hedge
Russian Strategist Tells TV Pundit Ukraine War Is "Rehearsal" For NATO Conflict
Tyler Durden
https://www.zerohedge.com/geopolitical/russian-strategist-tells-tv-pundit-ukraine-war-rehearsal-nato-conflict

RT — Question More (Russian state-sponsored media)
EU’s weapons stockpile depleted – Borrell
https://www.rt.com/news/555937-eu-army-ukraine-borrell/

https://tass.com/world/1454651

CaitlinJohnstone.com
They’re Worried About The Spread Of Information, Not Disinformation
Caitlin Johnstone
https://caitlinjohnstone.com/2022/05/23/theyre-worried-about-the-spread-of-information-not-disinformation/
 











 


Bill Mitchell — We have a new federal government – finally some decency will hopefully return

Australia has a new federal government. We have finally rid ourselves of the worst government in my lifetime. An indecent, lying, corrupt government. A government that messed up so many important things yet never took responsibility. During the pandemic, it was the state governments that saved the day, while being hectored by the federal government to abandon restrictions. Thankfully the state premiers held firm. The outgoing federal government has attacked minorities and the poor. It has gutted the higher education system and the public broadcaster. It has installed its cronies throughout the public sector and other important regulative bodies. It has been a vehicle for the coal lobby. It has failed to support the growing needs of women against domestic violence. It has now received its marching orders. I had a glass of champagne on Saturday evening to celebrate the passing of this awful gang. I hope we have a ‘night of the long knives’ and the new government cleans out all the cronies and appoints progressives to these important positions. In general, the policy direction will improve. But all is not well given the predominance of neoliberals in senior economics positions in the new government. I hope they broaden the advice they receive. But for now – we have rid ourselves of this awful government.
Bill Mitchell – billy blog
We have a new federal government – finally some decency will hopefully return
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
http://bilbo.economicoutlook.net/blog/?p=49824

Paradigm and Nervous Breakdown: Globalization Goes Into Reverse as Inflation/Scarcity Crisis Accelerates Yves Smith

Important! 

The old world order is breaking down. Where we go from here is unclear.

Naked Capitalism
Yves Smith
https://www.nakedcapitalism.com/2022/05/paradigm-and-nervous-breakdown-as-globalization-goes-into-reverse-in-combination-with-inflation-scarcity-crisis-accelerates.html


Sunday, May 22, 2022

Wood: Potential of Artificial General Intelligence

 

This is her story and she is sticking to it…. (I think her use of “DNA” here is figurative)…






Links — 22 May 2022 Part 2

Sputnik International (Russian state-sponsored media)
US Military Expert [Scott Ritter]: Russia to Score Major Victories in Donbass, Must Adapt to New NATO Game
Sputnik interviews Scott Ritter
https://sputniknews.com/20220522/us-military-expert-russia-to-score-major-victories-in-donbass-must-adapt-to-new-nato-game-1095703665.html

TASS (Russian state media)
US Indo-Pacific strategy geared to instigate confrontation - Chinese top diplomat
https://tass.com/world/1454347

India Punchline
CSTO won’t be drawn into Ukraine war
M. K. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassador
https://www.indianpunchline.com/csto-wont-be-drawn-into-ukraine-war/

Oilprice
Geopolitics Takes A Back Seat As Biden Drops [Some] Sanctions On Venezuela
Felicity Bradstock 
https://oilprice.com/Energy/Energy-General/Geopolitics-Takes-A-Back-Seat-As-Biden-Drops-Sanctions-On-Venezuela.html

Russian and Eurasian Politics
The Influence of Neofascist and Other Nationalist Groups in Maidan Ukraine
Gordon Hahn | Expert Analyst at Corr Analytics, http://www.canalyt.com and a Senior Researcher at the Center for Terrorism and Intelligence Studies (CETIS), Akribis GroupM.
https://gordonhahn.com/2022/05/18/the-influence-of-neofascist-and-other-nationalist-groups-in-maidan-ukraine/

Defend Democracy Press
US and UK Split With France and Claim There Is No Exit Ramp for Putin ("Russia must lose.")
Kyle Anzalone
http://www.defenddemocracy.press/us-and-k-split-with-france-and-claim-there-is-no-exit-ramp-for-putin/

The Independent
Russia’s war on Ukraine can only be resolved through ‘diplomacy’, says Zelensky
https://www.independent.co.uk/news/world/europe/russia-ukraine-end-diplomacy-zelensky-b2084448.html

American Affairs
The EU after Ukraine
Wolfgang Streeck
https://americanaffairsjournal.org/2022/05/the-eu-after-ukraine/


Modern Monetary Theory: The Right Compass for Decision-Making — Dirk Ehnts

Download paper.

Intereconomics — Review of European Economic Policy
Modern Monetary Theory: The Right Compass for Decision-Making
Dirk Ehnts | Lecturer at Bard College Berlin, research assistant at the Technical University of Chemnitz, and spokesperson of the board of Pufendorf-Gesellschaft eV in Berlin

Links — 22 May 2022 Part 1

https://oneworld.press/?module=articles&action=view&id=2900
https://oneworld.press/?module=articles&action=view&id=2899
Andrew Korybko, American geopolitical analyst and independent journalist based in Moscow, and member of the expert council for the Institute of Strategic Studies and Predictions at the People’s Friendship University of Russia

RayMcGovern.com
CIA Vets McGovern & Kiriakou: It’s Scoundrel Time Back in the USA (podcast transcript)
Ray McGovern, co-founder of Veteran Intelligence Professionals for Sanity, and retired 27-year career CIA whose tasks included preparing and briefing The President’s Daily Brief and leading the Soviet Foreign Policy Branch
https://raymcgovern.com/2022/05/22/cia-vets-mcgovern-kiriakou-its-scoundrel-time-back-in-the-usa/

Turcopolier
Ukrainian artillery: the true king of battle – TTG (gamechanger?)
https://turcopolier.com/ukrainian-artillery-the-true-king-of-battle-ttg/

The Vineyard of the Saker
Pepe Escobar : Interview with The Press Project (video 51.34)
http://thesaker.is/pepe-escobar-interview-with-the-press-project/

Sitrep Operation Z: Yes, it is ‘The Grind’
The Saker Staff
http://thesaker.is/sitrep-operation-z-yes-it-is-the-grind/

Azov surrenders. Who will be the sacred martyr now?
Batko Milacic for the Saker Blog
http://thesaker.is/azov-surrenders-who-will-be-the-sacred-martyr-now/

Germans ´schwedt´ hard for Russian oi
Jorge Vilches for the Saker Blog
http://thesaker.is/germans-schwedt-hard-for-russian-oil/



Inflation and Modern Monetary Theory- MMT | Seeing the Forest — Dave Johnson

Of interest. Short plug for MMT. Recommends The Deficit Myth.

Seeing the Forest
Inflation and Modern Monetary Theory- MMT | Seeing the Forest
Dave Johnson
https://seeingtheforest.com/inflation-and-modern-monetary-theory-mmt/

See also

Stephanie is working on a sequel.

The Lens
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders
https://stephaniekelton.substack.com/p/a-quick-look-ahead