Patricia
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Why does there have to be a reserve currency particularly when that currency is used as a weapon as the US$ is now? If China is using the Yuan to build the BRI or as a way to get rid of its US gilts then if those countries who, we say, are getting into debt to China only repay that so called debt in their own currency there is no problem. It all depends on what the contract says. China does not follow our rules In so many ways so why should we expect them to follow our economic rules.
Oxymoron you can do it! I read a wonderful saying the other day. “Don’t listen with the intent to reply but with the intent to understand.”
Well I have an electric car and I am very very happy with it especially as here in New Zealand our electricity is from hydro dams.
I too will be sad to see this site go. You have assured us that it won’t be gone completely! I understand your need for a reduction in your workload and particularly when you do not get the remuneration you should. Hope my contribution helps.
V Arnold. I would imagine that they don’t want us to bleed like a stuck pig during surgery which, of course we do do by taking aspirin. Saying that even though I didn’t take aspirin for two weeks before my hip surgery I must have bled like a stuck pig because I needed a blood transfusion afterwards. I was a little anxious at that because I hadn’t stored any of my own blood in advance.
V Arnold. “On top of that, the Thai medical profession is adamantly anti-aspirin because they claim it causes excessive bleeding during surgical and invasive proceedures. There is no evidence of this in the general population.”
Here in New Zealand I was asked to stop taking aspirin two weeks before my surgery.
And yes, while aspirin may reduce the chance of a stroke caused by a clot there is still the risk of a stroke from a bleed.
With ‘The number of children living in absolute poverty across the UK has increased by 200,000 in a year, to a total of 3.7 million‘ perhaps the UK should get guidance from China of how to lift people out of poverty.
And saying that the average American can’t afford to buy a home in 70% of the country because ‘While average earners nationwide need to spend only about one-third of their income on a home, residents in Brooklyn and Manhattan must shell out more than 115 percent of their income’ sounds a bit weird to me. Perhaps they mean to pay the rent or service a loan.Well, three things. My Kale is happily growing in my garden and hasn’t ever had any pesticides near it.
Secondly I live in Christchurch and I can assure you all that the massacre did happen and on 15th March. (It depends where you live as to whether it was the 14th or 14th March. Have you heard of time zones?) The man did not stop him at the Linwood mosque by a gun. He threw a credit card machine at him! The terrorist dropped his empty gun while trying to get more guns from his car. The man picked up the empty gun and threw it at the terrorist and it broke a windscreen. The terrorist, who is Australian, drove off and two policemen chased him and rammed his car. He was arrested, appeared before the court on the 16th March and is remanded in custody where he is apparently in Solitary confinement. He will appear before the High Court in early April. Many many years ago Australia had a massacre and the Government banned all semiautomatic guns. Unfortunately we here in New Zealand did not. That is why he can here to do what he did. We do not want such guns in New Zealand and that is why the whole country supports our Prime Minister. If you in America like killing each other or watching people kill people so be it. Each to his own but we do not want, in any way, to be like America.
Thirdly MMT is the lens through which you can see how all sovereign countries operate today. Once you understand how the system works then you can then apply your politicsPlease don’t use (or delete any reference) to the Christchurch killer’s name. A name is a form of advertising and a brand.
Yes, I agree but how can that be changed? There are so many ‘experts’ these days. Everybody is an authority on everything. Have you ever heard anybody say lately ‘I don’t know’? So in the end we all, not just the young, just shut off.
The sad thing John Day, is the young could be. The MSM has always been controlled by the elite of the day and we were all brainwashed. But the internet does provide an extra and powerful dimension to be accessed. As with everything you have to want to. Bread and circuses are now the opioid of the day.
I can’t understand the worry about China. If the rest of the world fell off this planet there are enough Chinese to be able to service their own needs and live very well indeed. I don’t think there is only one economic system to apply to everybody and everything but somehow, in the West, we do think that.
No deal Brexit! In my opinion another Y2K in the making. England already exports and imports from other parts of the world so the EU will just be added to the list. Yes there will be work to do but, in my view, nothing like the calamity they are talking about.
I read somewhere that in Victorian times they clothed piano legs because they were too suggestive. I don’t know whether that is true or not but it does tie in to the now.
I agree with Dr D about Kashoggi. It is all just titillating nonsense. The poor man might be dead but the story that is told to excite the masses beggars belief. I do believe though TPTB are getting us ready for war and what a mess that will be. My grandfather was a Conscientous Objector in WW1 and was sent to jail as a man with one child although he had two but he refused to register his second child because he said people would say he only had that child in order not to go to war. Anyway he was not religious but his reasoning was that war was all about making money for the rich but the poor were expected to give their lives to enable them to do that. The interesting thing though in those days was the thousands of people who went into town to listen to political speeches and not just the anti war ones. They wanted to know and they talked among themselves about their views. I think they were much more knowledgeable then than they are now where the people just respond to 10 second sound bites. It is said that the generation after us has a lower IQ – 6 points apparently. I believe it.
When a person can be defined as employed when they only work one hour a week then employment figures mean nothing.
Oh I didn’t mean it like that V Arnold. All I meant was perhaps the story is just a media beef up. Perhaps it doesn’t exist. Perhaps it is just something to get people all het up for the up and coming elections in America. I really doubt most things we are told these days.
You raise some very good points Dr. D. If one person wanted to walk 1000 miles then that would be possible because people would feed and give you shelter on the way. But 10,000! Perhaps it is just a political ploy by either the republicans or the democrats? After all migrants are the latest thing to get the masses frightened.
It seems amazing to me that the West says it won’t sell any weapons to Saudi Arabia which they know are used to kill people, probably in Yemen, until the West knows how they killed Khashoggi. 🙄 There are just too many things to divert the masses to believe anything these days. Governments have always spread dramas when their Government is in risk of losing control. Just think of Thatcher and the Falklands. We have had Russia, the Skripals, Brexit and now Khashoggi. Another thing. How did the Turks tape the Saudi embassy? Or is this all about Turkey wanting to take control of the Middle East again?
Well my post put a cat among the pigeons! All I can respond to is what I have read. Ms Ford has not said she was raped, she said she thought he might. She did not go to the police at the time and now she goes to Congress!! Where is the rule of law in all this. Me thinks it all sounds political. There are many people, men and women, who like to think of themselves as victims and go over and over things that happened to them. And those ‘things’ get very much enlarged. Who among us all has not thought of doing something bad but did not proceed.
Brett Kavanaugh’s trial by ordeal will have a much greater effect than on just him. Nobody of any calibre would put themselves up for any sort of office if they thought they might be put through what he has had to endure.
The only hope for the people of Great Britain is for the Labour Party, lead by Jeremy Corbyn, to become the next Government. God help help them otherwise.
Ilargi, may be you are right about China BUT at least they are building not destroying as the West has done for so many centuries AND may be there is another way rather than the western form of economics. I am sure there is. I have often wondered what would happen if we gave up the US$ as a reserve currency and had an international currency such as the Bancor (I think that is how it is spelt) that Keynes suggested. But how that would be controlled, if it needed to be, I don’t know. It couldn’t be used as the ECB does with the euro but all it would be is an international currency so that you paid for the things you bought overseas in Bancors. If you didn’t have them or weren’t entitled to to any more then you couldn’t buy. I think his Bancor is worth looking at in greater depth.
I read somewhere and I can’t remember where, that in reality there is only one political party in America and it has two factions. One is controlled by one group of oligarchs and the other faction by another group of oligarchs. Sounds about right to me.
Zerosum. I think bombs etc will be looked at in the next few years as we now do of men going off to war on horses and waving swords at each other. I think the next Wars will be computer based to attack a country’s computer systems eg electricity, airlines, airports, hospitals, water systems, any computer system you can think of. If a country tries to send bombs or missiles to another country ‘Return to Sender’ will have a completely different meaning.
.Totally agree Dr. D but unfortunately it doesn’t matter how correct you are if the mass does not want to agree then we continue on the same mad path. It doesn’t matter how correct/incorrect Mackinder was, most of the world’s powers followed him and look what has happened since 1904. Absolute mayhem and it is still happening.
So many areas are affected by this idea of not wanting to know. Think of economics, religionI have often wondered when they talk abut the Silk Road and other countries dependency on Chinese loans whether anybody has seen any of the actual loan contracts. How are the loans structured and in what overseas currency, if any, is the loan to be repaid? The western idea of loans may not be the Chinese. The IMF is to be avoided like the plague but the BRICS Investment Bank, from what I have read, is a different kettle of fish.
I can understand your reaction to the Adblock Ilargi and while I don’t do it that is only because I don’t know how. Can you explain this Patreon. It may be the answer for you.
Yes, graffiti, I like this website too. The people who comment are respectful of other’s views and enable one to reflect on what was said. So many of other websites are so rude and abusive. Quite amazing really. Why would anyone want to be abusive about another’s person’s views? It is so limiting and just shuts all thought down.
Yes, I agree with you palloy. It was worded very badly but even so I felt I could not quibble over the words. He has to be able to be free.
Zerosum, many years ago, a company I had shares in, bought back some of my shares. They just credited my bank account with the current market price of the shares. No broker was involved and I presume they just altered the number of shares in my name on their list of shareholders.
You see V Arnold, I am a great fan of Bill Mitchell. To me he is the only economist, along with those you have mentioned, who makes any sense at all.
I am not concerned about the rich but if the rest of the people start getting more they will spend which gets things going again. If consumption is the goal that is, but that is another story. I agree that debt is a problem for the rest of us but more money in pay packets means debt can be reduced. A government debt in its own currency is not a problem if the country can create its own currency. It is can be problem if a government borrows in a foreign currency though.
If there is a labour shortage in the US and, they say, a labour shortage in New Zealand and god knows where else, then immigration is the answer. And if employers have to start paying people more, which, in my view, is a good thing, then interest rates are likely to go up. Won’t that solve a lot of problems?
