Promotion of a democratic and equitable international order
Note by the Secretary-General
In fact, IMF advocacy of structural adjustment has privileged powerful
corporate interests and created a vicious cycle of dependence for borrower countries. As noted by Peter Dolack:
Ideology plays a critical role here. International lending organizations … consistently impose austerity. The IMF’s loans, earmarked … to pay debts or stabilize currencies, always come with the same requirements to privatize public assets (which can be sold far below market value to multi-national corporations waiting to pounce); cut social safety nets; drastically reduce the scope of government services; eliminate regulations; and open economies wide to multi-national capital, even if that means the destruction of local industry and agriculture. This results in more debt, which then gives multi-national corporations and the IMF, which enforces those corporate interests, still more leverage to impose more control, including heightened ability to weaken environmental and labour laws.
IMF still appears more committed to the obsolete neoliberal economic model.
Tasub lugeda, see on algusest lõpuni kriitiline IMF-i aadressil.
The New York Times Publishes Op-Ed by a Crazed “Government Deficits Don’t Matter” Economist
…On Wednesday, she was back at it with an op-ed in The New York Times, where she had this to say:
Because bigger deficits wouldn’t wreck the nation’s finances… The government’s deficit is always mirrored by an equivalent surplus in another part of the economy.
This is simply thinking that doesn’t look at the full picture, Money borrowed by the government squeezes out private sector borrowing. That is savings are used to fund the government bureaucracy instead of the creative, competitive private sector.
It is very difficult to understand how someone can not grasp this.
Mina leian, et kõige väheminformeeritud on majanduses ja rahanduses just austerlased. See artikkel annab ka järjekordselt ülevaate nende rumalusest.
How We Think About the Deficit Is Mostly Wrong
…..Are the proposed tax cuts a huge giveaway to the rich? Most definitely. Will they, as advertised, create a booming economy with benefits that trickle down to everyone else? I don’t think so. Mr. Trump’s plan will widen the country’s already dangerous wealth and income gaps, and because the gains go mostly to those at the very top, the tax cuts won’t do much to promote broad-based consumer spending or overall job growth.
That’s enough to reject the plan. But it would be unwise to oppose tax cuts, or any other federal legislation, simply because they add to the deficit.
Why? Because bigger deficits wouldn’t wreck the nation’s finances…..
Mick Mulvaney Is Now a Keynesianslate.com/…/mick-mulvaney-says-tax-cuts-will-only-create-growth-if-they-lead-to-deficits
….That group apparently includes White House budget chief Mick Mulvaney, who during his time in Congress was known as squawking deficit hawk. Back during the 2011 debt ceiling crisis, he famously said that it would be better for the government to default on its obligations than pass a clean hike and warned that “we desperately need is structural change that stops Congress from continuing to spend a bunch of money we don’t have.” He also co-authored a budget amendment known as “cut, cap, and balance”—the name says it all—and once introduced an amendment that would have made Congress offset Hurricane Sandy aid with cuts to other spending, just because.
And today? Well, now Mulvaney’s job is to sell a tax plan that will almost certainly set the federal government back 13 figures. His new stance is not only that deficits are good, but they are essential if anybody wants tax cuts to grow the economy.
“I’ve been very candid about this. We need to have new deficits because of that. We need to have the growth,” Mulvaney recently said, according to Bloomberg. “If we simply look at this as being deficit-neutral, you’re never going to get the type of tax reform and tax reductions that you need to get to sustain 3 percent economic growth.”…..
Italy’s Great Experiment
Italy is experimenting with giving tax-cuts to its citizens in exchange for public services―such as pulling weeds and cutting grass. Wow. What an amazing idea! The government issues a tax credit, and uses it to pay a citizen in exchange for the citizen’s services to the government. The government could even make this arrangement more formal by printing the tax credits on pieces of paper called “LIRIES” (or something like that) and paying for the weed-whacking services with this “cash.” That way the citizen who’s earned the “LIRIES” has the option of using them as payment to another citizen (who’d also like a tax-cut) for, say, a bag of potatoes. So, the first citizen pulls some weeds, gets paid in “cash” and then uses the “cash” to buy her dinner. If you thought about it, you could possibly run an entire economy in this fashion…..
The Great Italian Experiment (part 2)
….And these methods of obtaining Euros to spend are falling short of what Italy needs to pay its citizens to do. So…. Italy has decided to pay its citizens with tax-credits, and then (why not?) with paper tax-credits. And then, presumably, the EU says, “Whoa, hold on here! It looks like you are printing your own money, which is not allowed by our rules!”
We could then proceed to an International Court in which Italy claims it isn’t breaking the EU rules because it isn’t printing “money” but is simply issuing tax-credits. The EU would then have to argue that “tax-credits” are, in fact, what “money” is! In making that argument, it would be forced to explain everything we’ve just explained which would, in turn, reveal and establish not only the absurdity of the Eurozone monetary system, but also that the whole world (including the U.S.) is misunderstanding and mismanaging its money system—and unnecessarily making a vast majority of the world’s citizenry miserable in the process.
Ka eesti keeles on varem sellist ideed viljeletud.
Marek Kruusenvald:Majanduse elavdamise ning inflatsioonimõjude ja tööpuuduse vähendamise meede
Võib olla on Marek käinud Itaalia valitsust nõustamas? 🙂
Why is MMT so popular?
Iseenesest positiivne, et tema kaliibriga mees sõna võtab, aga möga ajab ta. Eks neil ole hirm, sest nende elutööl on oht mõttetuks muutuda.
Solidaarsus oli iseseisev ametiühing Poolas, mis aitas kommunistliku režiimi purustada. Nüüd organiseerib Solidaarsus anti-EL proteste.
Anti-Juncker protest hits Warsaw as Polish defiance of ‘EU occupation’ spills onto streets
Modern Monetary Theory: Snake Oil of the 21st Century
MMT is dangerous, but it’s popularity is growing. MMT fluffs over some incredibly complicated subject matters, making it easy to drag people into the weeds, and MMTers take advantage of this to confuse people. Their goal is not to win debates, but to prevent the masses of the public from listening to the conversation. MMT wants you to tune out from facts and reason, so that you will listen to the siren song of ‘free’. The goal of this editorial is to arm you with the tools to refute MMT, once and for all.
If you have not heard of Modern Monetary Theory (MMT), you have not been paying attention to the left. MMT is based on the facts that 1) US debt is held in US dollars, and repaid with US dollars, 2) that the US government can print as much money as it needs, and 3) that because taxes are paid in US dollars, taxation can be used to deplete the supply of money, and in doing so, prevent inflation.That’s actually all true. US debt is held in US dollars, which the government has the power to print in any amount it wants, and taxes are paid in US dollars so taxes could be used to reduce the supply of money, and prevent inflation……
Exclusive: Trump vents in Oval Office, “I want tariffs. Bring me some tariffs!”
Trump, addressing Kelly, said, “John, you haven’t been in a trade discussion before, so I want to share with you my views. For the last six months, this same group of geniuses comes in here all the time and I tell them, ‘Tariffs. I want tariffs.’ And what do they do? They bring me IP. I can’t put a tariff on IP.” (Most in the room understood that the president can, in fact, use tariffs to combat Chinese IP theft.)
“China is laughing at us,” Trump added. “Laughing.”
Kelly responded: “Yes sir, I understand, you want tariffs.”
Trump and the Trumpists
…The Trump presidency is both the outcome and the end of the American version of neo-liberalism. Having commenced crumbling in the era of George W. Bush, the neo-liberal regime managed to regain an appearance of vitality under Barack Obama. With his departure, it was bound to collapse under the weight of its contradictions, and, indeed, absurdities. Clinton’s daring attempt to present herself as advocate of those Americans “working hard and playing by the rules,” while collecting a fortune in speaker’s fees from Goldman Sachs, was destined to fail. So, too, was Clinton’s insistence that it was the historical duty of American voters to elect her as their first female president. Transgendered restrooms infuriated everyone except those seeking access to them, no matter the Obama administration’s attempt to depict bathroom access as a civil right. Deep down, no one cared…
Ma arvan, et Euroopas on nüüd sama oodata. Neoliberaalid püüavad rahvusriikide juurde naasta tahtjaid sildistada natside ja fašistidena. Poola hiljutised väljaütlemised Prantsusmaa presidendi aadressil on kõike muud kui diplomaatilised ja Euroopat ühendavad. Ungari katkestas diplomaatilised suhted Hollandiga. Vasakpoolsete jutud üleeuroopalisest fiskaallidust jne on Trooja hobune. Nad väidavad ise, et seisavad neoliberalismi vastu, kuid tegelikkuses seisavad sajaga selle eest.
Loomulikult on tarvis rassismist rääkida ja tohutu tähelepanu juhtida 500-le natsile Charlottesville’s (USA mastaapides marginaalne seltskond, kes kannab MAGA mütse ja väidab end Trumpi toetavat selleks, et meedialt tähelepanu saada). Steve Bannon oli USA agressiivse välispoliitika vastu ja tõesti, tasuta kolledž oleks sotsialistlik maailmalõpp, aga kordades rohkem militaarkulutusi suurendada, naah, seda saadab vaikus.
Trump on enda adinistratsioonis peale Steve Bannoni lahkumist ümbritsetud ainult globalistide poolt. Rassismi juttude tõeliseks ajendiks on see, et Trump on olnud globaliseerumise vastane.
Praegune seoses Charottesville’ga toimunu ja meedia spinn, et Trump ei mõistnud natse hukka, sarnaneb kampaania aegse meedia spinniga, kui väidetavalt David Duke kiitis Trumpi kandidatuuri. Trump on kordvalt halvustavalt rääkinud David Duke’st. Peavoolu meediat aga ei takistanud see korduvalt küsimusi esitamast Trumpile seoses David Duke’ga ja arvamusartikleid ketramast, kus väideti, et Duke toetab Trumpi ja Trump ei mõista Duke’i hukka.
Antud olukorras on antifa ja natsid ühe perse kaks kannikat. Ma olen ise USA-s natside rallit näinud ja mingit vägivalda seal polnud. Natside üritused pole just igapäevased USA-s, aga kõikide presidentide ajal on toimunud natside rallid. Antifa aktiviseerumine on viimase aja nähtus ja kui ma tean kümneid natside üritusi, mis pole vägivaldselt lõppenud, siis antifa kohta ma sama öelda ei saa. Ma ei tea ühtegi vägivallatut üritust, kus oleks olnud antifa. Võib olla on neid olnud, aga mina lihtsalt ei tea. Kui Trump mõistis hukka mõlemad pooled, siis oli tal minu arvates õigus. Ma küll ei tea päris täpselt, et mis Charlottesville’s juhtus, kuid kaldun arvama, et vägivalda poleks olnud, kui poleks olnud antifad.
Võib olla on minu järeldused ennatlikud, aga arvan, et Trump on liiga nõrk. Ma pean tema presidentuuri läbikukkunuks.
Mul on endal selline jama, et muru on ajamata, sest keegi ei taha 3 euro eest minu muru ära ajada. Aafrikast oleks immigrante vaja, meie majandus ei saa muidu areneda.
Brexit Boost: Hiring and Salaries Rise as Supply of Cheap Foreign Workers Falls
As the supply of low-wage labour from the European Union dwindles, Scotland has experienced a “steep increase” in permanent and temporary job hires, with salary growth reaching a 10-month high at the beginning of the third quarter.
Brexit campaigners have long argued that unscrupulous employers have been the only real beneficiaries of Free Movement and mass immigration, and that a better-controlled system would see pay and working conditions improve…..
Global Inflation Hits Lowest Level Since 2009
Inflation in the Group of 20 largest economies fell to its lowest level in almost eight years in June, deepening a puzzle confronting central banks as they contemplate removing post-crisis stimulus measures.
The Organization for Economic Cooperation and Development said Thursday that consumer prices across the G-20—the countries that accounts for most of the world’s economic activity—were 2% higher than a year earlier. The last time inflation was lower was in October 2009, when it stood at 1.7%, as the world started to emerge from the sharp economic downturn that followed the global financial crisis.
The contrast between then and now highlights the mystery facing central bankers in developed economies as they attempt to raise inflation to their targets, which they have persistently undershot in recent years.
Nii palju kvantitatiivsest rahateooriast, peale tohutuid rahatrükke on olukord selline. Kui MMT väitis, et keskpankade “rahatrükk” ei põhjusta inflatsiooni, siis vaadati MMT peale kõõrdi.
Kui ma rääkisin Kreeka võlakriisi ajal, et selle lahendamine on tehniliselt niisama lihtne nagu ECB poolt Kreeka võlakirjade ostmine, siis öeldi mulle, et ma ei saavat aru, et see trükitud raha hakkab kuskil inflatsiooni tekitama.