they do supply side nonsense, like saying Europe is doing bad because

Fixing that problem would mean bringing down energy costs, making labour markets more flexible, integrating markets for capital and services and culling unwise regulations.

Energy costs, fine. But rest is neoliberal junk.’

They have nothing, because the state isnt allowed to do anything. So all they can do is call for more ‘reform’.

True, but the exchange rate will move automatically if Germany is able to borrow and buy foreign currencies for fuel or whatever.

The issue with Eurozone is the member countries can’t borrow without risking interest rate going up. At extreme, the market won’t accept any rate due to default risk. Or that was the case before Draghi did “whatever it takes”. But even after, the members have been reluctant to spend since it all depends on the ECB, an organization most members have limited control over (combined with ideology).

Germany, I’m not sure. It’s debt does have lowest spreads compared to the ECB floor rate. But even here, the market can threaten a left leaning Government wanting to move away from neoliberalism, and ECB itself can refuse to provide credit.

But yep, moving away from neoliberal policy for any Euro user would require leaving the union and setting up an actual central bank that has the obey what the sovereign says.

I meant as a stop gap measure to keep employment and output high. As for energy, the Euro can take a bit of hit (via depreciation) and compress other imports as needed to maintain energy for the time being.

Its the same thing I recommend third world countries do, setup a state import agency for fuel (many countries have it), stabilize key prices while compressing less essential imports and capital flows via exchange rates (eg rich may not able to afford as much foreign treats). This should work as long as the country earns sufficient foreign currencies needed to maintain imports in real terms.

Note: I’m not saying its costless, the cost would come from lower real imports for non fuel goods due to Gov crowding them out.

But i do agree, restarting nuclear power will lower real factor costs.

Very ‘easy’ solution to all this, financially and economically very possible, politically not so much. Nationalize VW, BMW etc. keep everyone employed, sell the cars at whatever price needed to earn maximum foreign currency while maintaining productive capacity. Long term, invest more in EVs and possibly, small inexpensive (factor cost wise) cars.

There is no China threatening European market, only bad economics.

Mfers need to learn accounting and learn difference between real and financial assets 😭

The eggs produced by the goose are a real asset (a commodity). The company is valued in financial terms (shareholder value). For the company to realize the profit the eggs have to be sold to someone who has the money, and the money obtained should be above cost for shareholder value to rise (normally).

The goose (or rather Goose Inc) can be magically valued using made up very optimistic models. Say, a goose produces 1 egg a day worth $5000 (they assume it can be sold at a high price forever lol) so that’s $150k a month, now take that towards a century, now the goose can be valued at $180B. That’s discounted cash flows.

Point is the goose value is definitely not 0 even in the beginning. Even conservatively you can say the eggs can be sold at some price for the future. In reality, the situation is the opposite usually, the goose is often very overvalued.

Now, convince fools to buy your stock even without many eggs being sold then you can mark the stock at whatever price it was last sold.

this why they not selling it on PC lmao. smh

Idk how much it’ll mean considering the Congress is Zionist and neoliberal in aggregate. But the fact that the worst people are crying ab this makes me happy.

‘Prediction’ markets in action lmao

Libertarians when the Government increases spending to reduce poverty, increase employment: “my hecking hoards”.

Libertarians when a centibillionaire prints and dumps shares no one wants leaving existing shareholders holding the bag just so he can have more Government money:

claimed to have ended austerity

💀

Iranians have every right to hate the US.

The US hasn’t even cut aid let alone sanction Israel. The slightest pushack and they start crying like babies.

The piracy site not the “legit” one.

The farmers should blame their Government for not providing alternative employment. If the oranges and grapes are strategically/culturally important, the Gov can again buy it a floor price and sell for cheap. Either way, farmers will lose out on some of the rents, but hey, everyone else benefits from cheaper fruit from abroad in this scenario.

Btw, the West has done this with their ag sector to the third world. Displacing exports of global south with their own which have greater productivity (lower price) and subsidized on top. Except, global south countries have little policy space to counter the impact on local output and employment thanks to IMF/self-imposed neoliberal rules.

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Yea if they buy Chinese goods instead there is no significant strain on US resources at all. Chinese labor and resources will be used and Americans will be unaffected.

Real repearations are paid in real goods like how Weimar Germany was forced to pay up in gold which it didn’t have, forcing the Government to bid up prices by dumping local currency to markets which no one wanted resulting in hyperinflation.

The US is not at all in such a position.

Ah, piles, very briish.

I don’t understand how any American family would be helped if Iran didn’t get $300b.

Will Congress appropriate $300b as stimmy checks if Iran didn’t get $300b in private funds?

Congress can do so anyway regardless of whether Iran gets money or not, it is the very act of appropriation that creates Government money.

Also, export lovers should love Iran getting dollars to buy American goods. It’s “good for jobs”.

Money isn’t a thing. Is Iran going to buy us goods and services using these funds? If so, Iran gains real stuff, US loses real stuff. The idiotic Americans would see it as a win because it reduces trade deficits even though Real flow is in favor of Iran.

Also note Iran lost access to foreign resources due to sanctions imposed by the US. This is only reversing part of it.

Basic understanding of politics will tell anyone the US Prez doesn’t have the power to give Iran $300b from public funds as its not appropriated by the Congress.

Its funds are provided by gulf and other countries’ private sector.

Regardless, it doesn’t matter. Israel gets hundreds of billions EACH YEAR from BOTH US public and private sector. Unfortunately, the socdems and even many on the left only focus on the public sector part of it when most of the $ Israel receives are from private sector.

he only way they will be able to reverse that is through crushing austerity against the working class.

will not work. the only way to re-industrialize is using state capacity. that isn’t possible given ‘sound’ finance so all they can do is shit on China.