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Yea weird how it works. A Government deficit directly increases private profits especially when targeted towards those who don’t (can’t) save much. The capitalists prefer control over more profits sometimes.

It is true that profits would be higher under a regime of full employment than they are on the average under laissez-faire; and even the rise in wage rates resulting from the stronger bargaining power of the workers is less likely to reduce profits than to increase prices, and thus adversely affects only the rentier interests. But ‘discipline in the factories’ and ‘political stability’ are more appreciated than profits by business leaders. Their class instinct tells them that lasting full employment is unsound from their point of view, and that unemployment is an integral part of the ‘normal’ capitalist system.

https://delong.typepad.com/kalecki43.pdf

Its not even full employment anymore but scraps of welfare for people who are already working at poverty wages in the private sector.

Such a shame so many regions of the game are underdeveloped still. The big port especially.

Dogtown is goated though.

Something with cabin pressure

According to Japan’s transport ministry, the aircraft’s alarm system detected an abnormality in the mechanism responsible for maintaining cabin pressure.

Looks like the pilots took it down to lower level rapidly on purpose. It wasn’t because of some failure in the main flight stuff.

Yea if you look at wid.world data GDP per capita for bottom half of Russians is still below USSR level.

Also what Government built housing in India? Most of the Government apartments are now only for the public sector workers. Not even general public.

There are many Government built staff apartments which are completely abandoned after the state eneterprises were privatized.

They destroy slums in central areas, the capitalists buy it for cheap for luxury apartments and move all the people living to the periphery where they don’t have access to jobs because transportation is too expensive.

In many ways not that different from the US. Gentrification and all. Except less use of market and more brute force of the state, primitive accumulation kind of.

Edit: and Government owned stores for distribution of food grains and essentials at a subsidized price is the only reason why India isn’t facing a worse hunger and malnutrition crisis than it already is.

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Something could have happened

Isn’t the effectiveness of RRR doubtful even in “scarce reserves” regime like China? Are they doing it because they assume the monetarist loanable funds or because RRR is actually somewhat effective given the public sector nature of China’s banking system. But even then, PBOC has to backstop any system wide reserve shortage.

Corruption: Russia because the US and the West helped concentrate wealth and power among oligarchs.

Economic policy : Russia in the 1990s, whose policy was dictated by US and the West.

US is getting a taste of what it did to other countries.

Other fascistic countries are copying Trump admin’s arguments on deportation, almost like they put it through ChatGPT to change the wording slightly:

The Union Home Ministry’s (MHA) appeal against a Jammu and Kashmir High Court order to repatriate a 62-year-old housewife who was deported to Pakistan post Pahalgam terror attack said the “judiciary should not override” the executive’s decision to deport a foreign national.

It said the High Court order was constitutionally impermissible and unsustainable, as it directed the enforcement of a judicial writ beyond the sovereign territory of India to Pakistan, where she was deported and was thus ultra vires.

The Ministry also said that the court’s direction was “legally unenforceable and diplomatically untenable”.

“There exists no extradition treaty, legal instrument, or international obligation binding Pakistan to return her to India. The Indian government cannot, under existing international law, compel a sovereign nation to surrender a non-citizen,” the MHA said.

Source

versus

A federal judge did not have the authority to order the Trump administration to broker the return of a Maryland man who was mistakenly deported from the U.S. to a notorious El Salvador prison, government attorneys argued Saturday as they urged an appeals court to suspend the ruling.

U.S. District Judge Paula Xinis on Friday ordered the administration to “facilitate and effectuate” Kilmar Abrego Garcia’s return to the U.S. by late Monday night. Justice Department lawyers asked the 4th U.S. Circuit Court of Appeals to immediately pause the judge’s order.

“A judicial order that forces the Executive to engage with a foreign power in a certain way, let alone compel a certain action by a foreign sovereign, is constitutionally intolerable,” they wrote.

Abrego Garcia’s lawyers in response on Sunday urged the court to deny the government’s request, arguing lawyers for the Justice Department failed to demonstrate their argument would likely succeed on the merits. They also argued the government’s claim that the order to return Abrego Garcia “is neither possible nor proper” is “wrong on both counts.”

Source

Yes yes I fixed it. My point is not that it’s unimportant but that domestic soverign yields can be pegged, managed and even when not there are market expectations about it being risk free in nominal terms (which it is against involuntary default). Foreign exchange rates can’t be pegged (atleast forever and esp not with open capital flows).

Another win for the “nothing ever happens”, kinda

Something is happening with the Dollar index, that’s the measure to watch, never local currency sovereign bond yields.

Anyone remember trumps silly military “parade” sponsored by coinbase and palantir? No one cares now ig.

Yea the more neoliberal democrats criticized it for increasing the deficit and nothing else.

I don’t support consumption subsides. The Government could guarantee everyone a basic job which pays $600/m for 40 hour work weeks (for example) so that private sector is forced to pay this much. Ik you agree with this too.

I do not think the idea that people should have purchasing power to buy goods is anti Marxist at all. Feels like the Twitter discourse about New York wage increase being bad because it increases private profit. Yea no shit, capitalists earn what they spend and workers spend what they earn etc. If you don’t want private profit, promote Government spending on productive investments then.

Many Marxist economists support “consumption led” growth, they always point out the issue is always sound finance neoliberal mindset and class . And China isn’t invulnerable to such mindset either given diverse views among its leadership.

Western leftists will soyface over stimmy checks in their countries, their only complaint being how low it was. But no one dare want a third world country to augment purchasing power (as I said previously, I don’t support stimmies even in third world, esp one off stimmies). Give people jobs, give workers more leverage over capitalists by weakening the threatening mechanism of unemployment. And those who can’t work must be provided with basic income. All these should be rights.

When you have a mixed economy there has to be some profit. This kind of competition promotes long hours and low pay for workers. That’s the main problem I see.

Anne Marie Slaughter

And the economist guy is obsessed with betting markets of all things. Great people to have on.

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pre builts maybe?