Tingimusteta põhisissetulekust

Replacing Social Security and other programs with UBI is giving up the farm for the utopian garden that will bear no fruit.

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State of the Union Message to Congress January 11, 1944

Franklin D. Roosevelt 

4 – State of the Union Message to Congress
January 11, 1944

…We have come to a clear realization of the fact that true individual freedom cannot exist without economic security and independence. “Necessitous men are not free men.” People who are hungry and out of a job are the stuff of which dictatorships are made.

In our day these economic truths have become accepted as self-evident. We have accepted, so to speak, a second Bill of Rights under which a new basis of security and prosperity can be established for all regardless of station, race, or creed.

Among these are:

The right to a useful and remunerative job in the industries or shops or farms or mines of the Nation;

The right to earn enough to provide adequate food and clothing and recreation;

The right of every farmer to raise and sell his products at a return which will give him and his family a decent living;

The right of every businessman, large and small, to trade in an atmosphere of freedom from unfair competition and domination by monopolies at home or abroad;

The right of every family to a decent home;

The right to adequate medical care and the opportunity to achieve and enjoy good health;

The right to adequate protection from the economic fears of old age, sickness, accident, and unemployment;

The right to a good education.

All of these rights spell security. And after this war is won we must be prepared to move forward, in the implementation of these rights, to new goals of human happiness and well-being….

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Vastik natsiriik

Väike, loll ja fašistlik Island näitab suurtele ja tarkadele teed. Island loobus euro taevamannast ja ei saanud aru, et mitte mingit alternatiivi pole neoliberaalsele globaliseerumisele. Island on vastik natsiriik, mis mõtleb vaid iseendale ja üldse mitte internatsionaalile.

Icelandic economy continues to boom: GDP grew by 10.2% in third quarter of 2016

Unemployment only 2.7%, continues to fall, labour participation continues to rise

Unemployment continues to drop in Iceland. Unemployment in October hit a record low of only 2.7% according to Statistics Iceland, a 1.1% drop year-over-year. In October 2015 unemployment was 3.8%, and 5% in 2014…

Meenuvad targa eksperdi Siim Kallase sõnad, et mingit vahet pole, milline valuutaühik Kreekas on, Kreekal olevat ikkagi samad probleemid lahendada. Liberaalne eliit on ideeliselt pankrotis, sellepärast kobab valija nüüd konservatiive. Majandusekspertidest nagu Siim Kallas ja Hardo Pajula on kahjuks vähem tolku kui kõige suurematest populistidest, kellel ka ei pruugi muidugi ideid olla.

Ühtlasi on peldikus ka nende argumendid, kes väidavad, et väikeriigil polegi midagi teha. Island on rahvaarvult ligi neli korda väiksem kui Eesti. Kehtestas kapitalikontrollid!  Selline majandusvabaduse piiramine pidi ju katastroofiga lõppema?



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If this doesn’t make you deeply question the state of economics then I don’t know what will….

If this doesn’t make you deeply question the state of economics then I don’t know what will….

“But as the economy recovers, banks should find more opportunities to lend out their reserves.”

   –  Ben Bernanke, Former Fed Chairman, 2009

“Commercial banks are required to hold reserves equal to a share of their checkable deposits. Since reserves in excess of the required amount did not earn any interest from the Fed before 2008, commercial banks had an incentive to lend to households and businesses until the resulting growth of deposits used up all of those excess reserves.”

   – Martin Feldstein, Harvard Economics Professor, 2013

– “[The Fed knows] that if there is an opportunity cost from these massive reserves they’ve injected into the system, we are going to have a hyperinflation.”

   – Nobel Prize Winner Eugene Fama on why the Fed is paying interest on Reserves, 2012

“the Fed is paying the banks interest not to lend out the money, but to hold it within the Fed in what are called excess reserves.”

   – Laurence Kotlikoff, Boston University Economics Professor, 2013

“Notice that “excess reserves” are historically very close to zero. This reflects the tendency (assumed in textbook discussions of “open market operations”) for commercial banks to quickly lend out any reserves they have, over and above their legally required minimum.”

   –  Robert Murphy, Mises Institute, 2011

“In normal times, banks don’t want excess reserves, which yield them no profit. So they quickly lend out any idle funds they receive. “

   –  Alan Blinder, Princeton University Economics Professor, 2009

“given sufficient time, [banks] will make enough new loans until they are once again reserve constrained. The expansion of money, given an increase in the monetary base, is inevitable, and will ultimately result in higher inflation and interest rates.”

   –  Art Laffer, Former Reagan Economic Advisor, 2009

“First of all, any individual bank does, in fact, have to lend out the money it receives in deposits. Bank loan officers can’t just issue checks out of thin air”

   –  Paul Krugman, Nobel Prize Winner & Princeton University Economics Professor, 2012

“Ohanian points out that the Fed has done a lot already, having increased bank reserves from $40 billion to $900 billion. But this liquidity injection was not what it seems — indeed, if it was, we’d now have hyperinflation. In reality, the Fed completely neutralized the injection by starting a new policy of paying interest on reserves, causing banks to simply hoard these “excess reserves,” instead of lending them out. The money never made it out into the economy, so it did not stimulate demand.”

  –  Scott Sumner, 2009

This isn’t some minor flaw in the model. It’s the equivalent of our foremost experts in automobiles thinking that, if we pour gasoline into cup holders, that this will allow our cars to move forward. If this doesn’t make you deeply question the state of economics then I don’t know what will….

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Head uut aastat

Marshall Auerback Retweeted Alex Leo

Not the Trump crazies who are the real cause for concern. It’s the “reasonable” deficit fetishists, who are the source of most bad ideas

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Trump nimetab Ichani oma erinõunikuks

Trump names Icahn as special adviser


Ichan on defitsiitse kuulutamise pooldaja. Siin on kevadine artikkel.

Icahn: Republicans don’t understand economics and it’s killing the country

“The Republican Party that I used to be more sympathetic with — I’m right in the middle now, although as you know I’m for Trump — but what I would say is Congress is in this massive gridlock,” he said, explaining that the Republican-controlled body is “obsessed with this deficit to a point that I think it’s almost pathological.”

The result of this gridlock and a lack of fiscal stimulus has been that the Federal Reserve has been forced to keep interest rates low, and that has created “tremendous bubbles” and “the wealth gap.”

Ma näen jätkuvalt Trumpi valimisvõitu positiivsena. Tõenäoliselt näeme suuri defitsiite USA-s lähiaastatel ja loodan, et toimub paradigma muutus.

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Government Advisor: Germany Should Quit Euro

Government Advisor: Germany Should Quit Euro

Germany should withdraw from the euro zone to save the European Union, said Roland Berger, the doyen of German strategy consultants, in an interview…..

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Hiinlased loobuvad USA võlakirjadest, kas maailmalõpp?

Japan Overtakes China as Largest Holder of U.S. Treasuries

China’s holdings of U.S. Treasuries declined to the lowest in more than six years as the world’s second-largest economy uses its currency reserves to support the yuan. Japan overtook China as America’s top foreign creditor, as its holdings edged down at a slower pace.

A monthly Treasury Department report showed China held $1.12 trillion in U.S. government bonds, notes and bills in October, down $41.3 billion from the prior month and the lowest investment since July 2010. The portfolio of Japan decreased for third month, falling by $4.5 billion to $1.13 trillion, according to the data. Collectively, the two nations account for about 37 percent of America’s foreign debt holdings…

Et selline on reaalsus. Hiina loobub USA  võlakirjadest, mingit paanikat ei ole, intressid taevasse ei tõuse jne. Siin on peavoolu muinasjutt Äripäevast:

Mis juhtuks, kui Hiina hülgaks USA võlakirjad?

Raha laenates peaks alati olema varuplaan juhuks, kui suur kreeditor tahab raha tagasi. See tõde kehtib igal juhul ka USA kohta, kelle võlgnevus Hiina ees on umbes triljon dollarit.

Hiina on ametlikult Ühendriikide suurim võlausaldaja, kellele kuulub umbes 900 miljardi dollari väärtuses võlakirju ja kui siia lisada Hongkongi osalus, siis summa ületab ühe triljoni piiri. Seega võiks Hiina teha USA võlaturule suurt kahju, kui hakataks võlga suurtes kogustes müüma.

Enamike ekspertide sõnul hakkas USA selliste märkide ilmnemisel rõhutama enda kodanike südametunnistusele laenata rohkem raha avalikule sektorile, täpselt samamoodi nagu tehti Teise maailmasõja ajal, ning otsides sõbralikke välisriike, kes oleks valmis ostma täiendaval hulgal ameeriklaste võlga.

Ilmselt pöördutaks ka pankade poole, paludes neil võlakirjadesse rohkem investeerida ning viimase võimalusena nähakse Föderaalreservi abi, kuigi see kujutaks juba suurt ohtu dollari tugevusele.

Tavapäraselt pole peavoolu jutt reaalsusega kooskõlas. Fake News?

USA on halvemas seisus kui Kreeka

USA on pankrotis. Ei suurem kulutamine ega väiksem maksustamine aita riigil oma võlgu tasuda.



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Skidelsky: trumpism ei ole fašism


Lord Skidelsky Refuses to Equate Trumpism with Fascism

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END OF THE EU? Top economist warns Brussels’ death is NEAR and the world should prepare

THE European Union’s political and financial arms could be on the brink of collapse and the world should prepare for its implosion in order to avoid disaster, a top economic expert has claimed….

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The IMF rejects own responsibility, blames Greece for austerity measures

thomsenThe IMF rejects own responsibility, blames Greece for austerity measures

Goof cop – Bad cop: while the bad cop, that is the Europeans summed up in one single person called Dr Wolfgang Schaeuble, the good cop is Greece’s eternal friend the International Monetary Fund.

In a blog post written by Poul Thomsen, responsible for the Europe program, the IMF dismisses any claim that it is the Fund that wants more fiscal austerity for Greece and restores the truth – and nothing but the truth……

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Warren Mosler (Economist, Fed In 2017)

Warren Mosler (Economist, Fed In 2017)


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Chrysler Worker Takes On Michael Moore Over Support Of Donald Trump

USA tööliselt.  See polnud Roosevelti ajal eriti ebatavaline, et said lõuga, kui hakkasid kuskil töölisringkondades Roosevelti aadressil kätsatama  🙂

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David Graeber: debt and what the government doesn’t want you to know

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LegaNord’s Salvini says tonight Renzi lost but also the bankers, the ‘pseudo-intellectuals’ and the ‘pseudo-financial journalists’.

Donald Trump gets my backing, says Italy’s Matteo Salvini

Beppe Grillo:

Hooray! He won democracy. The response of the Italian as turnout and how indication was clear. The regime’s propaganda and all his lies are the first losers in this referendum. Times have changed. Sovereignty belongs to the people, now we start to really apply our Constitution.
The first winners are the citizens who raised their heads and went to vote en masse and they forgot the TV and newspapers to reject the constitutional reform and who has proposed no popular mandate.
This vote has two important consequences.
1) Goodbye Renzi
2) The Italians are to be called to vote as soon as possible. The fastest thing, realistic and concrete to go straight to the vote is to go there with a law that already exists: the Italicum. We have always criticized this law, but these parties would do worse, and we would put years legitimizing the establishment of a caretaker government to Monti. As for the Senate, we propose to apply the correctives to the governability of the law that already exists: the Consultellum. It takes five working days. Our proposal to all is to start working on it tomorrow and have the new electoral law in the week. You can not lock the Parliament discussing a new electoral law. You should vote as soon as possible. The parties will do anything for dragging its feet and get in September 2017 to take the gold board. Will not let them, and the only solution is what we propose. We ask Italians to stand by our side in this battle.
The Movement 5 Star has done its part. We went all over Italy to do for months information, none of us is spared. We thank all the spokespersons and all the activists who made possible the tour train without spending millions of Euros.Thanks to all the people who hosted us and that we have refreshed along the way.
From next week we will begin to vote online for their program of government and then the government team.
We enjoy working with the President Mattarella at this crucial time. As the first political force of the country we are willing to do all the steps necessary to achieve the general election.
A lesson for all: you can not lie to the people forever without suffering consequences.

Eurovankri rattad hakkavad nüüd alt ära tulema.  Eurofiilide lubadused ei ole täitunud Itaalias ja rahvas on vastu sellele neoliberaalsele projektile. Ma muidugi kindel ei oleks Beppe Grillos ega ka kelleski teises. Inimesed muutuvad tihti poliitikasse minnes. sellegipoolest on 2016 suurepärane aasta. Kõigepealt Brexit, siis Trump ja nüüd Itaalia “ei” referendumil. Marine Le Pen paneks asjale punkti järgmisel aastal. Kõigepealt on vaja see projekt lammutada ja seda peavoolu poliitilised jõud ei tee. Neid ei ole mõtet seetõttu valida.

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For all the lefties who talk for working class. Trump means business :)


The U.S. is going to substantialy reduce taxes and regulations on businesses, but any business that leaves our country for another country,


fires its employees, builds a new factory or plant in the other country, and then thinks it will sell its product back into the U.S. ……


without retribution or consequence, is WRONG! There will be a tax on our soon to be strong border of 35% for these companies ……


wanting to sell their product, cars, A.C. units etc., back across the border. This tax will make leaving financially difficult, but…..


these companies are able to move between all 50 states, with no tax or tariff being charged. Please be forewarned prior to making a very …



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Keynes and Brexit

Robert Skidelsky

Keynes and Brexit

….And he would certainly have wanted to keep Britain out of the eurozone. Because, above all, he would have wanted to retain the commitment to full employment. If this was not possible at the European level, and he would have doubted if there was enough theoretical and institutional support for this, then national policy must be free to secure it.
So Keynes would have been on the cusp: the problem, as in the early 1930s, was that the right kind of people had the wrong ideas, and the wrong kind of people at least some of the right ideas. And today Europe has yet to produce someone of the stature of Franklin D Roosevelt, capable of bridging the divide.
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L’italiano vero

Itaalia referendum toob tõenäoliselt lõpu eurole ja EL-le. Referendumi jah kampaaniast on saanud pro EL-i ja pro globaliseerumise kampaania ja kuna Renzi on lubanud tagasi astuda “ei” korral, siis näevad populistlikud jõud oma võimalust. Renzi on nüüd lahti öelnud sellest lubadusest, kuid arvatakse, et ta ikkagi astub tagasi.  Referendum on tegelikult efektiivsema valitsemise nimel konsitutsiooni muudatuse üle, aga üldsuse jaoks tähendab see referendum midagi muud. See on võimalus establishmentile vastu hakata, see on võimalus eurost loobuda. Beppe Grillo on lubanud referendumi korraldada euro osas ja on rääkinud eurosüsteemi vastu ning tema sooviks, et Itaalia rahaliidust välja astuks. Ennetähtaegsed valimised võivad Grillole võimaluse anda.

Brexitil ja Itaalia referendumil on ühiseid jooni, establishment külvab hirmu ja paanikat “ei” suunal Itaalias ja Brexiti suunal UK-s tehti seda. Rahandusministeerium väitis, et töökohad kaovad ja investeeringud lakkavad riiki tulemast ja seda ainult exit valimistulemuse põhjal. Tänaseks võib öelda, et see ennustus on valeks osutunud. Samuti väidab enamus pankureid, et nad ei kavatse Londonist ära kolida. Remain pooldajad pritsivad muidugi endiselt tatti ja tahavad uut referendumit, soovivad, et valitsus eiraks rahva tahet referendumil, räägivad, et referendumid ongi problemaatilised jne.

Itaalia jah propagandistid ütlevad, et ei korral kukub 8 rahvuslikku panka kokku jne, tuttav taktika Brexiti eelsest ajast. Kui Reagani ja Thatcheri ajast sai tuttavaks TINA (There Is No Alternative) neoliberaalsetele reformidele, siis nüüd on sellega liitunud ka pro EL-i jõud ja valdav enamus vasakpoolseid (end sotsiaaldemokraatia sildiga ehtijad, marksistid, kommunistid jne). Suur osa neist tahab rahvusriike hävitada ja nende väide on: There Is No Alternative (lisaks sellele süüdistavad vasakpoolsed kõiki, kes nende ideedega ei nõustu, rassismis ja fašismis).  Meil Eestis räägivad nad, et Venemaa tuleb meile kallale, kui EL laguneb, Itaalias, et pangad kukuvad kokku, UK-s, et töökohad kaovad jne.

Itaalia majandus pole praktiliselt üldse kasvanud euroga liitumise ajast. Euroopa surub peale kasinust ja neoliberaalseid reforme, mida Renzi ka saaks läbi viia, kui referendumilt jah tuleks. Seega igal juhul on Itaalial kasulik ei öelda referendumil. Ma ei näe mingit ratsionaalset põhjust euroga jätkamiseks Itaalial.

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Italy’s referendum will COLLAPSE EURO – chilling warning from investor who forecast Brexit

AN INVESTOR who correctly predicted Britain would leave the European Union (EU) before the referendum has now forecasted the euro will collapse.

Jim Mellon, the Chairman of the Burnbrae Group, has warned the currency will become a victim in the growing anti-establishment surge which will cause the EU to fracture – all within five years.

He said: “Brexit is going to be a sideshow to the problems of Europe that are becoming more and more evident.

“The euro as it stands at the moment is just a very inappropriate mechanism — I give the euro between one and five years of life.”

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Trump’s biggest supporter is still mad as hell

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Scepticism about a Brexit apocalypse looks increasingly justified


Scepticism about a Brexit apocalypse looks increasingly justified

…That scepticism has looked increasingly justified in the months since the referendum. The first prediction to go awry was that the economy would plunge into instant recession. It didn’t.

When the economy showed signs of resilience, there was a second prediction: the unexpected strength was driven by consumer spending and a different picture would be painted when figures for investment came in. Figures for investment were published last week. It was up in the third quarter…..


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Kui kedagi huvitab, et miks Trump või Marine Le Pen

2h2 hours agoLos Angeles, CA

So white officer Alan Horujko who shot and killed the Black Somali stabbing suspect in Ohio is being paraded as a hero. Thats interesting

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Le Pen

BREAKING: Francois Fillon wins French primary, faces Marine Le Pen for presidency

…Not only is Fillon out of touch economically, he is an ardent Europhile in an age when Euroscepticism is sweeping Europe. Fillon is as far from a political revolutionary as one can get, he is a member of the old establishment who like a broken clock, is correct twice a day.

By contrast, Marine Le Pen’s policies are demonstrative of the traditional conservative movements which have swept the west from America to Hungary, Britain to Austria. Her views are consistent with a broad movement favouring protectionism over free-trade globalism, patriotism against the supra-nationalism of the European Union, traditional culture vis-à-vis post-cultural internationalism and what’s more, her views on Russia and immigration matters are far more clear and consistent than those of Fillon….

…..The choice is clear. It’s between tomorrow’s woman and yesterday’s man. What’s more, I believe she will be the next president of The Fifth Republic.

Adam Garrie usub, et Marine Le Pen saab presidendiks. Antud ajal ma loodan, et see nii läheb. Teistsugust lahendust ma praegusele olukorrale ei näe. Ma pean tunnistama, et lasin ennast vahepeal ära petta vasakliberaalide ilukõnedest. Vasakliberaalid on need, kes globaalset neoliberalismi täiega toetavad. Ei ole üldse juhuslik, et vasakliberaalid on kreeklased nägima pannud või, et nad Brexiti ja Trumpi vastu nii ägedalt sõdivad.

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Timing is everything


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