DougTheCoach
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#TheStranglers #drummer #JetBlack dies after ‘years of ill health’ aged 84 https://www.theguardian.com/music/2022/dec/08/the-stranglers-drummer-jet-black-dies-after-years-of-ill-health-aged-84
DougTheCoach
boosted
“#Korean #philosophy is practical, while remaining agnostic to a large degree: recognising the spirit realm but highlighting that we ourselves take charge of our lives by taking charge of our #minds”
Korean philosophy & the daily #practice of good #habits https://psyche.co/ideas/why-efficiency-is-dangerous-and-slowing-down-makes-life-better
The recession that is certain to result from reducing aggregate demand through interest rate increases will require direct intervention in the form of a guaranteed minimum income or #UBI. The sooner we get to that point the better off will be the vast majority of humans who need to work for a living.
#SupplyChain issues can be addressed directly by expanding resources/complementary products available or developing infrastructure to improve the speed of goods reaching markets.
When the increase in prices is being led (as is the case now) by increased energy prices due to (among other things) a war in Europe, interest rate increases simply cause pain where none is needed. We need to acknowledge that.
The only sensible, #PeopleFirst strategy to deal with #inflation is that proposed by #MMT Modern Monetary Theory.
Instead of focusing on reducing aggregate demand by removing wage income from the economy through interest rate increases (classical monetary theory), #MMT focuses attention at what are the root causes of inflation and addresses them directly.
Workers pay two ways: through direct loss of employment, and the decreased ability to individually or collectively bargain for higher wages to address the rise in prices.
When central banks 'wage war on Inflation" the only casualties are workers and their families.
#MonetaryPolicy that uses higher interest rates to decrease inflation puts all of the costs onto wage earners.
Higher interest rates slow the economy by decreasing business investment and increasing the cost of inventory. The result is lower levels of employment: more people out of work.
Inflation pressure is eased by taking Wage Income out of the economy.
#economics
#inflation #InterestRates #MMT #UBI
This article asks the right questions but skirts around the answers.
https://www.cbc.ca/news/canada/inflation-interest-rate-hikes-1.6678050
DougTheCoach
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"Sure enough, the area where (#CormacMcCarthy) can be authoritatively eloquent—can be himself—is the realm not of numbers, where he has only the idea of “genius,” but of #metaphysics, where he has all the resources of #language." https://www.newyorker.com/magazine/2022/12/19/cormac-mccarthy-peers-into-the-abyss-the-passenger-stella-maris
DougTheCoach
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“Most of all, though, it is a story of #financialization & of prioritizing payments to wealthy #stockholders over everything else, including serving the public interest” The Averted National Rail Strike Is a Parable of Contemporary #American #Capitalism
https://www.newyorker.com/news/our-columnists/the-averted-national-rail-strike-is-a-parable-of-contemporary-american-capitalism
DougTheCoach
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“As the British economists John Kay and Mervyn King point out in their book Radical #Uncertainty (2020), efforts to #quantify #risk by attaching #probabilities to various unlikely future states of the world are mostly science fiction.”
https://psyche.co/ideas/why-efficiency-is-dangerous-and-slowing-down-makes-life-better
DougTheCoach
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DougTheCoach
boosted
Watching Dateline about the woman who was shot (assuming by her husband) while on safari in Africa. She was a big game hunter who had spent two weeks unsuccessfully hunting a leopard. I am really hoping for a plot twist where we find she was actually shot by the leopard. #Dateline
If we just brought back #MaskUp as a policy we wouldn't be kicking kids out of respite care in order to deal with the overflow of pediatric illnesses.