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The Contradictions of Ronald Reagan’s America
As the memory of President Ronald Reagan’s administration recedes, estimation of his deeds grows, and for good reason. A cursory look at his end-of-office stats impresses the casual observer — 67% increase in GDP, from $3 trillion in 1981 to $5 trillion in 1988, net job addition of about 18 million, reduction in the unemployment […]
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A Matter of Interest: The RBA, Inflation and Corporate Profits
He is one of the least empathetic of beings, a cold fish, bothered and irritated. Captured by the cradle of numbers (he is an economist); obsessed by the spreadsheet of projections that may never result, there is not much to recommend the chief of the Reserve Bank of Australia, Philip Lowe. Come to think of […]
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Global Capitalism: Anti-Democratic Politics and Existential Crisis
Though it is not often examined in these terms, the popular disaffection of Americans with government in general and the rise of anti-democratic politics around the world are seemingly predictable reactions to the contemporary global crises in the international capitalist economy. Persistent poverty, pandemics, military conflict, economic displacement, climate catastrophes, migration, widespread corruption and social […]
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Beware of Economic Textbooks
Protests by British university economic students against neo-classical economics highlight the notion that economic education is dominated by theories that defy practical applications and applications that cannot predict, prevent, and ameliorate periodic crises. Students learn economics from unverified and outdated theories, many contradicting one another, which leads to a confused understanding of the discipline and […]
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The True Meaning of Debt
In debating the validity of raising the debt limit, the United States Congress has not carefully analyzed the reasons for government debt and the meaning of all debt. The true meaning of debt has the modern capitalist system as a debt-driven system. All new money supply is debt and the money supply is the energy […]
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Farruggio for President 2024
Since my governor, Fascism Forever Captain Ron as I call him, just announced for President, allow me to jump into the fray. Of course, I have not much of a chance as anyone else who stands apart from the Two Party/One Party scam to get the support needed without raising and spending a fortune. Issues! […]
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The End of an Era
Why do the International Monetary Fund (IMF), the World Trade Organization (WTO) and the World Bank– three of the most highly regarded international economic organizations-project a bleak road ahead for the global economy? Ominously, the World Bank warns of the possibility of a coming “lost decade” for economic growth. In January of this year, the […]
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Standing Together: Resisting the New Normal
The US wanted Russia to attack Ukraine. So says Robert H Wade, professor of Global Political Economy at the London School of Economics. And then it brought in its wide-ranging sanctions regime in response. According to renowned investigative journalist Seymour Hersch, the US subsequently blew up the Nord Stream 2 gas pipeline. The result is that […]
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First National Rally Against War in Ukraine
We in the United States are on the brink of war with a major nuclear power, Russia. If that is not a dire emergency, an acute existential threat, what is? This situation has persisted for a year now without a national protest to stop the slide to Armageddon. Given the proximity of nuclear Armageddon, the […]
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