Apr 152021
 


Rembrandt van Rijn Christ In The Storm On The Sea Of Galilee 1633
Stolen from Gardner Museum March 18 1990, the single largest property theft in the world. Never recovered

 

Idiocy: Experimental Vaccines And Spike Proteins (Denninger)
Continued Lockdowns A Ticking Time Bomb To Cause Global Health Crisis Soon (RT)
Johnson & Johnson Vaccine Use Will Remain Paused In US Amid Evaluation (G.)
South Africa Covid Variant Found In Another Part Of London (Mirror)
How CO2 Sensors Might Help Us Return To ‘Normal’ (Verge)
Greece To Reopen To US Tourists Next Week – Under Conditions (F.)
US Intel Warns Of ‘Sustained Economic Downturn’, Other Long-Term Threats (ZH)
Democrats To Introduce Bill To Expand Supreme Court From 9 To 13 Justices (NBC)
US To Withdraw From Afghanistan Having Accomplished… Nothing (Ritter)
Putin’s Ukrainian Judo (Dmitry Orlov)
US Cancels Black Sea Deployment Of Two Warships: Turkey (Y!)
Biden To Unveil Russia Sanctions Over SolarWinds Hack, Election Meddling (G.)
Let’s Play The “Pay For” Game (Stephanie Kelton)
The Future Is Carbon Coin (Steve Keen)

 

 

 

 

Tucker Fauci
https://twitter.com/i/status/1382496036510384131

 

 

“..it is gross malpractice by any reasonable definition to refuse to give a patient any sort of treatment on an early basis for a given disease, deliberately doing nothing until the person is on death’s door.”

Idiocy: Experimental Vaccines And Spike Proteins (Denninger)

Do remember that when Covid-19 kills it almost-universally does so with a presentation of clotting in places where it should not occur, and that elevated d-Dimer is a very reliable indication that you’re going to get hammered. This was reported in the first few months of last year and I noted very early on that it was happening, it fully explained why ventilators were worthless since without gas exchange due to clotting you can ram however much oxygen into the lungs and it will do nothing or worse, cause physical damage and embolisms, and that getting to the bottom of that and stopping it when detected was key to management of severe cases that were at risk of becoming fatal. In addition preventing those events through early treatment modalities was obviously essential as once you get into that sort of dysregulation of your body’s systems you’re in trouble and the odds of dying are very high.

The evidence is, by the way, that the mRNA vaccines have a worse safety profile than the J&J shot does. Who remembers the healthy doc who got one of the mRNA shots and had the same thing happen to him? Go look up the death numbers associated with Covid19 vaccines yourself in VAERS. Do remember that VAERS, because it is a voluntary system and the hospitals are incentivized to code anything they can as “Covid-19” because they get paid a bonus for doing so provides great incentive to find some way not to call a vaccine death an actual vaccine death. Nonetheless there are a crap-ton of reports, roughly a hundred times as many as are found for flu shots that we give morbid and otherwise not-in-great-shape people every single year.

The last time I checked dead is dead and the entire point is not to be dead. Further, it is gross malpractice by any reasonable definition to refuse to give a patient any sort of treatment on an early basis for a given disease, deliberately doing nothing until the person is on death’s door. This is only gotten away with legally because in the early days Trump’s HHS secretary invoked an emergency law provision that immunizes hospitals and doctors from lawsuits for anything they do or don’t do in the treatment of Covid-19. Oh and our wonderful, life-affirming President now, Mr. PuddinHead, has not withdrawn that exemption. Why not? Well gee, we can’t cut off the $30,000 “bonus payments” to hospitals for people with Covid, right? I mean all those *******s heroes might get sued for refusing you Ivermectin and Budesonide when you get Covid if that was to be withdrawn and you died.

That would be great horrible and we must keep the death fear going so as to get you to take a jab that might kill you too, and for which they’re also immune if it does. After all there is only tens of billions of dollars each and every year at stake from this pack of lies since they’re already telling us this will be a ritual we shall be expected to partake in every six months or year forever into the future. It ought to be obvious that playing parlor tricks on your body’s cells to produce the “spike protein” — not introducing it directly into your body which is incidentally the actual definition of a vaccine, but tricking your cells to produce it instead (and which has now been magically redefined to count as a “vaccine”) is inherently dangerous.

You’d think that a decade or more of both animal and human trials, with very close follow-up on every single human so-exposed, with all of the data written up and presented to the world in public would be required to know if this sort of malarkey has unknown but severe danger associated with it. Among other risks doing this could result in cells in very unpleasant places (e.g. your heart, spleen, etc.) taking up said “instructions” and being damaged, leading to an immune response in a very bad place that could injure or kill you, or it might lead your body to target your own cells since by definition the cells that take up said “programming” and produce the protein are diseased. If either of those things happen then the very same thing that kills you when Covid goes badly might kill you as a result of the vaccine either immediately or somewhere down the road when challenged either by the original virus — or some other as yet not-identified stimulus.

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“..thanks to the hysteria over overcrowded ICUs, staggering numbers of patients are being denied life-saving treatments for up to one year.”

Continued Lockdowns A Ticking Time Bomb To Cause Global Health Crisis Soon (RT)

By continuing to push for lockdowns to ‘protect hospitals’, authorities worldwide are denying millions of cancer sufferers and other seriously ill people essential treatment. This will lead to many unnecessary deaths.
It is shocking that in 2021, surgeries for cancer and other critical ailments are being delayed. But thanks to the hysteria over overcrowded ICUs, staggering numbers of patients are being denied life-saving treatments for up to one year.
UK media recently reported a drop of around 350,000 urgent cancer referrals between March last year and January this year, compared to the same period in the previous 12 months. A researcher described the situation as a “ticking time bomb.”

There has also been a decrease in surgeries and chemotherapy and radiology treatments, “with 44,000 fewer patients diagnosed with cancer starting treatment.” This problem is not unique to Britain. Canadian provinces face similarly unacceptable numbers of delayed surgeries and treatments. As of April, Ontario has a backlog of 245,367 “medically necessary procedures.” A 60% drop in cancer surgeries was reported when the pandemic struck last March , leaving over 36,000 Ontario cancer patients in agonizing limbo. During stay-at-home orders in 2020, some patients chose to avoid hospitals, either out of worry about becoming ill or through fear of being forcibly estranged from family and loved ones.

But also, then and now, elective surgeries and treatments have been halted under the premise that ICUs are overwhelmed. Ontario recently went into a new lockdown, and with it we saw an increase in alarmist reports of ICUs being crowded. And so elective surgeries have been stopped again. It’s worth bearing in mind that these are not necessarily cosmetic or trivial procedures, but refer to surgeries scheduled in advance, including those to treat cancer. However, some Ontario doctors are now speaking out, providing anecdotal evidence that there are plenty of ICU doctors, and even that most are “underemployed.”

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The vaccine rollouts are a huge mess, as much as everyone tries to present them as successful. That’s what happens if you don’t properly test them first.

Johnson & Johnson Vaccine Use Will Remain Paused In US Amid Evaluation (G.)

Johnson & Johnson’s Covid-19 vaccine will remain in limbo a while longer after US health advisers told the government Wednesday that they need more evidence to decide if a handful of unusual blood clots were linked to the shot – and if so, how big the potential risk really is. The reports are exceedingly rare – six cases out of more than 7m US inoculations with the one-dose vaccine. But the government recommended a pause in Johnson & Johnson vaccinations this week, not long after European regulators declared that such clots are a rare but possible risk with the AstraZeneca vaccine, a shot made in a similar way but not yet approved for use in the US.

At an emergency meeting, advisers to the Centers for Disease Control and Prevention wrestled with the fact that the US has enough vaccine alternatives to do without the Johnson & Johnson vaccine for a time, but other countries anxiously awaiting the one-and-done shot may not. One committee member, Dr Grace Lee, was among those who advocated tabling a vote. She echoed concerns about getting more data to better understand the size of the risk and whether it was greater for any particular group of people. “I continue to feel like we’re in a race against time and the variants, but we need to [move forward] in the safest possible way,” said Lee, of Stanford University.

The clots under investigation are highly unusual. They occurred in strange places, in veins that drain blood from the brain, and in people with abnormally low levels of clot-forming platelets. The six cases raised an alarm bell because that number is at least three times more than experts would have expected to see even of more typical brain-drainage clots, said CDC’s Dr Tom Shimabukuro. “What we have here is a picture of clots forming in large vessels where we have low platelets,” Shimabukuro explained. “This usually doesn’t happen,” but it’s similar to European reports with the AstraZeneca vaccine.

The clot concerns could undermine public confidence in a vaccine many hoped would help some of the hardest-to-reach populations – in poor countries or in places like homeless shelters in the US. Health officials recommended the Johnson & Johnson timeout in part to make sure doctors know how to recognize and treat the unusual condition. The US set up intensive systems to track the safety of Covid-19 vaccines, knowing that side effects too rare to have occurred in studies of thousands of people could pop up once millions rolled up their sleeves. Shimabukuro said spotting such a rare potential risk amid the nation’s huge vaccine rollout “is an example of a success story for vaccine safety”.

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What’s the big fuss about? Is it just the goverment sowing panic?

South Africa Covid Variant Found In Another Part Of London (Mirror)

Huge queues have formed for newly set up coronavirus testing stations as a case of the South African variant was found in another borough. People living in an area of Barnet, north London, have been asked to take a test following the detection. They join those living in Wandsworth, Lambeth and a part of Southwark, where cases of the mutant strain have been found. A steady stream of people joined the lines at pop-up centres on Clapham Common and in Brockwell Park, near Brixton, in Lambeth, on Wednesday morning. Marshals said they had warned on Tuesday afternoon that waiting times could be up to two hours and were forced to stop people joining the queue early.


Some 44 confirmed cases of the variant have been found in Lambeth and Wandsworth, with a further 30 probable cases identified, the Department of Health and Social Care (DHSC) said. The BBC reported that the outbreak appears to have been triggered by an individual who travelled from Africa in February. According to documents seen by the broadcaster, the country involved was not on the red list for mandatory hotel quarantine at that time, but is now. Facilities offering asymptomatic polymerase chain reaction (PCR) testing have now been deployed at Wandsworth Town Hall, Tooting Leisure Centre and the University of Roehampton, as well as Lambeth Town Hall and Brockwell Park. People aged 11 and over who live, work or travel through those areas are being urged to take a Covid-19 polymerase chain reaction (PCR) test, on top of twice-weekly rapid testing.


The South Africa variant doesn’t appear to be causing a spike in deaths…in South Africa.

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Hepa filtration systems are the only ones that work vs Covid, from what I understand.

How CO2 Sensors Might Help Us Return To ‘Normal’ (Verge)

One of the things we’ve learned over the past year is to be wary of the air around us — especially indoors. If other people are around, exhaling, they’re filling the space with their breath. If one of those people has COVID-19, they could be filling the space with infectious breath. There’s a way to make indoor spaces safer, though: improving the ventilation to make sure the air doesn’t stay trapped. That way, any potentially infectious particles quickly gust away, instead of lingering for someone else to breathe in. Experts say one way to measure how well-ventilated certain spaces are is by checking how much carbon dioxide is in the air.


People exhale carbon dioxide, so the amount of it in a room gives you an idea of how much of the air is made up of other people’s breath. It’s not a perfect measure of danger — it won’t tell you if there is actually virus around — but it’s a pretty good proxy for how risky a room could be. It’s easy to check a room’s carbon dioxide levels: all you need is a small, portable monitor. To test this idea, the Verge Science team took one of those monitors all around Brooklyn, New York, to check out the ventilation at local grocery stores, bagel shops, and bars. Watch our latest video to see what we found.

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The entire country is closed. Lockdown tourism? You can’t even sit outside, let alone have drinks or dinner.

Greece To Reopen To US Tourists Next Week – Under Conditions (F.)

Greece will reportedly permit visitors from the United States to enter for the first time in more than a year starting next week, a month earlier than the previously announced date of May 14, when the country said it would reopen to international tourists who provide a negative coronavirus test or proof of vaccination. Greece is taking early “baby steps” toward a full reopening by allowing tourists from the U.S., the U.K., Serbia, Israel, the United Arab Emirates and the European Union into the country starting Monday, tourism ministry officials told The Guardian and Reuters on Wednesday. If citizens of those countries can produce a negative PCR test less than three days old or proof of vaccination, they will be allowed in and permitted to skip the mandatory weeklong quarantine in place, officials said.

The tourists will reportedly be permitted to fly into Greece through airports in nine of the country’s most popular holiday destinations; Athens, Thessaloniki, Heraklion, Chania, Rhodes, Kos, Mykonos, Santorini and Corfu, according to Reuters. However, travelers would still have to follow the country’s coronavirus restrictions while they’re in Greece—bars and restaurants remain closed for dining in and a nationwide curfew is still in place, though many of the country’s famous archeological sites, like Athens’ Acropolis, have reopened. Under current guidelines, U.S. citizens are barred from entering Greece at all, except in cases of “extreme emergencies,” according to the Greek Embassy in Washington, D.C., while citizens of some countries are allowed in if they self-isolate for a week after arrival.

Tourism makes up a whopping 20% of the economy, making reviving the industry critical for the country. Greece has not permitted Americans to visit since March last year, when Greece went under a lockdown at the onset of the pandemic. While travelers from nearly 30 countries were allowed back in just three months later in July, the government excluded Americans based on the high rate of coronavirus infection in the U.S. The Greek Embassy in Washington, D.C., had no comment about the reported early opening.

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This is not a warning, this is an agenda.

US Intel Warns Of ‘Sustained Economic Downturn’, Other Long-Term Threats (ZH)

According to the Annual Threat Assessment – which comes on the heels of a separate intelligence report last week which offers a grim view of global challenges likely to be faced over the next 20 years – the pandemic is expected to contribute to “humanitarian and economic crises, political unrest, and geopolitical competition,” and will “strain governments and societies.” “The economic fallout from the pandemic is likely to create or worsen instability in at least a few—and perhaps many—countries, as people grow more desperate in the face of interlocking pressures that include sustained economic downturns, job losses, and disrupted supply chains,” the report warns. What’s more, food shortages and ‘uneven access’ to COVID treatments will contribute to humanitarian concerns, while the virus will remain a threat “to populations worldwide until vaccines and therapeutics are widely distributed.”

The report also warns that a new wave of infections earlier this year “may have an even greater economic impact as struggling businesses in hard-hit sectors such as tourism and restaurants fold and governments face increasing budget strains.” In addition to pandemic-related warnings, the report also predicts that Russia and China will continue to hatch covert influence operations (to blame populist victories on?) – and that Iran will continue to violate the 2015 nuclear agreement. According to the report, China “presents a growing influence threat” in the United States, and has been “intensifying efforts to shape the political environment in the United States to promote its policy preferences, mold public discourse, pressure political figures whom Beijing believes oppose its interests, and muffle criticism of China on such issues as religious freedom and the suppression of democracy in Hong Kong.”


The report also warns of domestic extremism – as the threat from foreign terrorist orgs such as ISIS and Al Qaeda has apparently abated. Instead, white supremacy is now the threat – which have led to “at least 26 lethal attacks that killed more than 141 people and for dozens of disrupted plots in the West since 2015.” For the sake of comparison, that’s fewer people killed in six years than the 170 homicides in Chicago, year-to-date, primarily committed by ‘black extremists’ against other ‘black extremists’ so to speak. “While these extremists often see themselves as part of a broader global movement, most attacks have been carried out by individuals or small, independent cells,” the report reads. “Australia, Germany, Norway, and the United Kingdom consider white racially or ethnically motivated violent extremists, including Neo-Nazi groups, to be the fastest growing terrorist threat they face.”

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Politicizing your highest court is always a bad idea.

Democrats To Introduce Bill To Expand Supreme Court From 9 To 13 Justices (NBC)

Congressional Democrats will introduce legislation Thursday to expand the Supreme Court from nine to 13 justices, joining progressive activists pushing to transform the court. The move intensifies a high-stakes ideological fight over the future of the court after President Donald Trump and Republicans appointed three conservative justices in four years, including one who was confirmed days before the 2020 election. The Democratic bill is led by Sen. Ed Markey of Massachusetts and Rep. Jerry Nadler of New York, the chair of the House Judiciary Committee. It is co-sponsored by Reps. Hank Johnson of Georgia and Mondaire Jones of New York.

The Supreme Court can be expanded by an act of Congress, but the legislation is highly unlikely to become law in the near future given Democrats’ slim majorities, which include scores of lawmakers who are not on board with the idea. President Joe Biden has said he is “not a fan” of packing the court. But it represents an undercurrent of progressive fury at Senate Minority Leader Mitch McConnell, R-Ky., for denying a vote in 2016 to President Barack Obama’s pick to fill a vacancy, citing the approaching election, before confirming Trump nominee Amy Coney Barrett the week before the election last year. The anger has taken hold within the Democratic Party, and the new push indicates that it has not dissipated in an era when the party controls the White House and both chambers of Congress.

The lawmakers, who intend to announce the introduction of the bill outside the Supreme Court building, will be joined by progressive activists Aaron Belkin, who leads Take Back the Court; Chris Kang, a co-founder and chief counsel of Demand Justice; and Meagan Hatcher-Mays of Indivisible, according to an advisory notice. All three groups advocate adding justices. “This bill marks a new era where Democrats finally stop conceding the Supreme Court to Republicans,” said Brian Fallon, a former Senate Democratic leadership aide and a co-founder of Demand Justice, who described the court as “broken and in need of reform.”

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CIA.

US To Withdraw From Afghanistan Having Accomplished… Nothing (Ritter)

Biden mirrored the conclusion reached by his predecessor, Donald Trump, that left to their own devices, the US military would never depart from Afghanistan. Biden had made the rejection of the so-called “forever war” in Afghanistan an integral part of his national security strategy, but had been held hostage by conditions that had been put in place regarding the capabilities of the Afghan military and security forces to operate independently, assurances about women’s rights, assurances on the part of the Taliban regarding their relationship with Al-Qaeda, and a desire on the part of many officials – Biden included – that a residual force of US special operations forces based in Afghanistan was required for any lasting peace to be had.

In carrying out a “whole of government” analysis of US objectives in Afghanistan, it became apparent to Biden and his inner circle that by placing conditions on the withdrawal of US troops, the US would never leave Afghanistan. This decision flew in the face of the advice Biden was receiving from the military, which argued that any condition-free withdrawal would doom the Afghan government and military to a Vietnam-like collapse. Biden had also to overcome similar objections on the part of NATO and non-NATO allies of the US who had collectively deployed a 7,000-strong contingent to Afghanistan dedicated to the very training and advisory capacity the US military claimed was essential to the continued survival of the Afghan government.

[..] Biden’s decision was likewise aided by the recent appointment of William Burns, a veteran diplomat, to run the CIA. The CIA has built a virtual empire in Afghanistan, underpinned by a private army of contracted Afghan special forces who operate independently of the Afghan military, reporting instead to the CIA-controlled Afghan intelligence service. This private army represented the logical extension of the intimate and visceral involvement of the CIA in Afghanistan dating back to the immediate aftermath of the 9/11 terrorist attacks. Like the US military, the current CIA leadership was forged in the fires of the Afghan conflict.

Trump’s last CIA director, Gina Haspel, was the personification of this reality, having played a key role in the implementation of both the CIA torture program and the ongoing use of armed drones to kill so-called “high value targets” in Afghanistan and elsewhere. Haspel strongly opposed Trump’s withdrawal plan and worked with the Pentagon to prevent its full implementation. With Haspel gone, and Burns in as director, the CIA’s objections, like those of the US military, have been pushed aside in favor of the domestic political imperative recognized by Biden that whatever national security gains that might be accrued by remaining in Afghanistan could not offset the reality that the American public was tired of a war that never ended, and apparently could not be brought to a successful conclusion.

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“Virtually all of the more capable young men have either left the country to work abroad or have bribed their way out of being drafted.”

Putin’s Ukrainian Judo (Dmitry Orlov)

[..] what’s about to happen now is forecasted to be on a different scale: the Ukrainians are moving heavy armor and troops up to the line of separation while the Russians are moving theirs up to their side of the Ukrainian border, a position from which they can blast any and all Ukrainian troops straight out of the gene pool without so much as setting foot on Ukrainian territory—should they wish to do so. The Russians can justify their military involvement by the need to defend their own citizens: over the past seven years half a million residents in eastern Ukraine have applied for and been granted Russian citizenship. But how exactly can Russia defend its citizens while they are stuck in the crossfire between Russian and Ukrainian forces?

The rationale of defending its citizens led to conflict in the briefly Georgian region of South Ossetia, which started on August 8, 2008 and lasted barely a week, leaving Georgia effectively demilitarized. Russia rolled in, Georgia’s troops ran off, Russia confiscated some of the more dangerous war toys and rolled out. Georgia’s paper warriors and their NATO consultants and Israeli trainers were left wiping each others’ tears. Any suggestion of arming and equipping the Georgians since then has been met with groaning and eye-rolling. Is the upcoming event in eastern Ukraine going to be similar to the swift and relatively painless defanging of Georgia in 2008? Given that the two situations are quite different, it seems foolish to think that the approach to resolving them would be the same.

Is it different this time and is World War III is about to erupt with eastern Ukraine being used as a trigger for this conflagration? Do the various statements made at various times by Vladimir Putin provide a solid enough basis for us to guess at what will happen next? Is there a third, typically, infuriatingly Russian approach to resolving this situation, where Russia wins, nobody dies and everyone in the West is left scratching their heads? The Ukrainian military is much like everything else currently found in the Ukraine—the railway system, the power plants, the pipeline systems, the ports, the factories (the few that are left)—a patched-up hold-over from Soviet times. The troops are mostly unhappy, demoralized conscripts and reservists. Virtually all of the more capable young men have either left the country to work abroad or have bribed their way out of being drafted.

The conscripts sit around getting drunk, doing drugs and periodically taking pot shots into and across the line of separation between Ukrainian-held and separatist-held territories. Most of the casualties they suffer are from drug and alcohol overdoses, weapons accidents, traffic accidents caused by driving drunk and self-harm from faulty weapons. The Ukrainian military is also working on winning a Darwin award for the most casualties caused by stepping on their own land mines. As for the other side, many of the casualties are civilians wounded and killed by constant shelling from the Ukrainian side of the front, which runs quite close to population centers.

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“..a 2014 revolution..”?

US Cancels Black Sea Deployment Of Two Warships: Turkey (Y!)

The United States has cancelled this week’s planned deployment of two warships to the Black Sea, Turkish officials and media said Wednesday, amid high tensions between Russia and Ukraine. Turkish diplomatic sources said the passage of the first ship through the Bosphorus due on Wednesday did not take place. Anadolu state news agency said both deployments, scheduled for Wednesday and Thursday, have been cancelled with Ankara not yet informed of any possible rescheduling. Last week Turkey announced that it had been informed through diplomatic channels that two US warships “will pass toward the Black Sea” and remain in the region until May 4.


There was no confirmation from Washington either of the planned deployments or of their cancellation. Washington is required to give Ankara at least 15 days notice before sending warships through the Bosphorus and Dardanelles straits under the terms of the 1936 Montreux Convention. The treaty’s terms allow foreign warships to stay in the Black Sea for 21 days. US Navy ships routinely operate in the region in support of Ukraine, which has been fighting Russian-backed forces in its east since a 2014 revolution ousted the pro-Moscow leader in Kiev.

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Don’t eve ask for evidence. It’s secret.

Biden To Unveil Russia Sanctions Over SolarWinds Hack, Election Meddling (G.)

The United States will announce sanctions on Russia as soon as Thursday for alleged election interference and malicious cyber activity, people familiar the matter said. The sanctions, in which 30 entities are expected to be blacklisted, will be tied with orders expelling about 10 Russian officials from the US, one of the people said. The US is also expected to announce aggressive new measures targeting the country’s sovereign debt through restrictions on US financial institutions’ ability to trade such debt, according to another source. The wide-ranging sanctions would come partly in response to a cybersecurity breach affecting software made by SolarWinds Corp that the US government has said was likely orchestrated by Russia. The breach gave hackers access to thousands of companies and government offices that used the company’s products.

[..] The action will add a new chill to the already frosty relations between Washington and Moscow, which has tested the west’s patience with a military build-up near Ukraine. Relations slumped to a new post-cold war low last month when Biden said he thought Russian president Vladimir Putin was a “killer”. Biden has also vowed to take action on reports that Russia offered bounties to Taliban militants to kill US troops in Afghanistan. The US also intends to punish Moscow for alleged interference in the 2020 US presidential election. In a report last month, US intelligence agencies said Putin likely directed efforts to try to swing the election to then-president Donald Trump and away from Biden. Microsoft president Brad Smith described the SolarWinds attack, which was identified in December, as “the largest and most sophisticated attack the world has ever seen.”

In a call on Tuesday, Biden told Putin the US would act “firmly” to defend its interests in response to those actions, according to US officials’ accounts of the call. Biden also proposed a meeting with Putin “in a third country” that could allow the leaders to find areas to work together. In the past few weeks, Washington and its Nato allies have been alarmed by a large build-up of Russian troops near Ukraine and in Crimea, the peninsula that Moscow annexed from Ukraine in 2014. Anticipating the new sanctions, Kremlin spokesman Dmitry Peskov told reporters last week: “The hostility and unpredictability of America’s actions force us in general to be prepared for the worst scenarios.”

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Thread.

Let’s Play The “Pay For” Game (Stephanie Kelton)

Let’s play the “pay for” game. Suppose you want to spend $3-$10 trillion on a Build Back Better agenda. You’ve decided that you’re going to play the “pay for” game, which means you will show where every dollar you plan to spend is going to “come from.” 1/ The whole point is to appear “fiscally responsible,” showing that you can carry out your spending without adding to the deficit. In other words, for every dollar you want to spend INTO the economy, you have a plan to rip a dollar OUT of someone’s hands. 2/ The Biden administration has put forward their plan, which mostly relies on raising taxes on corporations. The president says it will raise more revenue (over 15 yrs) than he is proposing to spend (over 8 yrs). Don’t ask me why.

3/ Along with some other changes, the Biden plan would take the corporate income tax rate from 21% to 28%. Already, a number of Dems are balking at 28% and chattering about going to 25% instead. And, of course, CEOs are fighting back. 4/ If Dems don’t have the votes to go to 28%, then what? Scale down the package? Fight over other ways to raise taxes? The opposition loves it, because they know that the odds of passing anything bold drop precipitously when Dems hold themselves hostage to the “pay for” game. 5/ Is there a way out? Setting aside the MMT solution, which is to stop playing the conventional “pay for” game altogether, why not simply take the IRS Commissioner at his word? Why not make the case that you can spend up to $10 trillion without raising a single tax?

6/ If all you need is stepped up enforcement of EXISTING TAX LAWS, then you can play the “pay for” game even if you can’t get the votes for a slew of tax increases. Maybe I’m wrong and the votes are there. Give it a shot! 7/ Both strategies get you the revenue you think you need, and both reduce inequality. So I guess I’m curious to know whether the administration is digging its heels in on the need to RAISE TAXES or whether they would accept HIGHER REVENUE to play the game. 8/ As I’ve been saying for months, there’s yet another way to play the “pay for” game. Just make the case that the money you spend ‘today’ will come back to you ‘tomorrow.’ Fiscal multiplier and all that. 9/ Alternatively, we could all grow up and stop this nonsense. Admit that taxes don’t “pay for” anything and that all government spending is paid for in one way and one way only—the Federal Reserve credits the appropriate bank accounts. 10/end

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“We need a mechanism which would be popular with the poor—so much so that they would campaign in favour of it, rather than against it. We need a mechanism that hits the big consumers of carbon—the rich—rather than the poor. In short, we need a mechanism that puts the politics first, and lets the economics follow. ”

The Future Is Carbon Coin (Steve Keen)

Economists tell us that environmental problems are caused by the “tragedy of the commons”: because no-one owns the environment, no-one pays when they dump carbon dioxide into it. Their solution is carbon-pricing: put a price on things that generate carbon-dioxide—such as petrol consumption, or coal-fired power stations—and the market will do the rest. Demand for carbon-dioxide-generating products will fall, while the market will invent low-carbon products—such as electric cars, or solar power stations—to replace the high-carbon products that are causing Global Warming. Hey presto, problem solved. However, while the economics sounds OK, the politics are not: attempts to price carbon, or tax products with high carbon content, have led to social revolts.

The most colourful, literally, was the Gilet Jaunes movement in France, which started when French President Macron increased the tax rate on petrol. Working-class demonstrators donned the yellow safety vests that all vehicles in France are required to carry, and made the point that this tax was hard on the poor, but easy on the rich. They demonstrated as only the French can do, and Macron scrapped the tax. We need a mechanism that puts the politics first, and lets the economics follow. A “Universal Carbon Credit” (UCC) could be that mechanism. This is the problem with only using prices to attempt to reduce our carbon consumption: while the rich consume far more carbon per head than the poor, increasing the price of carbon affects the poor far more than the rich.

When you’re already barely able to meet your monthly expenses, a higher price for petrol for your car means you can’t afford to drive to work. But when you’re a billionaire, a higher price for avgas won’t make you leave your private jet parked on the tarmac. We need a mechanism which would be popular with the poor—so much so that they would campaign in favour of it, rather than against it. We need a mechanism that hits the big consumers of carbon—the rich—rather than the poor. In short, we need a mechanism that puts the politics first, and lets the economics follow. A “Universal Carbon Credit” (UCC) could be that mechanism. Every adult in a country would receive a UCC, measured in tons of carbon dioxide per year, for the carbon dioxide in their purchases of goods and services.

This allowance would be set, initially, at the level of the average carbon consumption in a country. Given how unequal the distribution of income has become, this average would in fact be well above the amount of carbon consumed by the vast majority of the population—90% or more of the population would not consume that much carbon per year. All goods and services would have their carbon content included, so that as well as running down your wallet when you went shopping, you would run down your UCC. For 90-95% of the population, this would not be a problem: they’d end up with unused UCCs. But the top 5-10% would exhaust their ration, and have to buy unused UCCs from the poor. The richer they were, the more they would have to buy.

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