Posts Tagged ‘policy’

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How many candidates are saying this?


Be honest with yourself, for a change.

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Although Venezuela is not technically at war, it is suffering from foreign currency strains triggered by aggressive attacks by a foreign power. US economic sanctions have been going on for years, causing at least $20 billion in losses to the country. About $7 billion of its assets are now being held hostage by the US, which has waged an undeclared war against Venezuela ever since George W. Bush’s failed military coup against President Hugo Chavez in 2002.

Modern Monetary Theory (MMT) is getting significant media attention these days, after Alexandria Ocasio-Cortez said in an interview that it should “be a larger part of our conversation” when it comes to funding the Green New Deal. According to MMT, the government can spend what it needs without worrying about deficits. MMT expert and Bernie Sanders advisor Prof. Stephanie Kelton says the government actually creates money when it spends. The real limit on spending is not an artificially imposed debt ceiling but a lack of labor and materials to do the work, leading to generalized price inflation. Only when that real ceiling is hit does the money need to be taxed back, and then not to fund government spending but to shrink the money supply in an economy that has run out of resources to put the extra money to work.

Predictably, critics have been quick to rebut, calling the trend to endorse MMT “disturbing” and “a joke that’s not funny.” In a February 1st post on The Daily Reckoning,Brian Maher darkly envisioned Bernie Sanders getting elected in 2020 and implementing “Quantitative Easing for the People” based on MMT theories. To debunk the notion that governments can just “print the money” to solve their economic problems, he raise the specter of Venezuela, where “money” is everywhere but bare essentials are out of reach for many, the storefronts are empty, unemployment is at 33%, and inflation is predicted to hit 1,000,000% by the end of the year.

Blogger Arnold Kling also pointed to the Venezuelan hyperinflation. He described MMTas “the doctrine that because the government prints money, it can spend whatever it wants . . . until it can’t.” He said:

To me, the hyperinflation in Venezuela exemplifies what happens when a country reaches the “it can’t” point. The country is not at full employment. But the government can’t seem to spend its way out of difficulty. Somebody should ask these MMT rock stars about the Venezuela example.

I’m not an MMT rock star and won’t try to expound on its subtleties. (I would submit that under existing regulations, the government cannot actually create money when it spends, but that it should be able to. In fact MMTers have acknowledged that problem; but it’s a subject for another article.) What I want to address here is the hyperinflation issue, and why Venezuelan hyperinflation and “QE for the People” are completely different animals.

What Is Different About Venezuela

Venezuela’s problems are not the result of the government issuing money and using it to hire people to build infrastructure, provide essential services and expand economic development. If it were, unemployment would not be at 33 percent and climbing. Venezuela has a problem that the US does not have and will never have: it owes massive debts in a currency it cannot print itself, namely US dollars. When oil (its principal resource) was booming, Venezuela was able to meet its repayment schedule. But when oil plummeted, the government was reduced to printing Venezuelan Bolivars and selling them for US dollars on international currency exchanges. As speculators drove up the price of dollars, more and more printing was required by the government, massively deflating the national currency.

 
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The entire class of paid militaristic pundits and their Hollywood dupes has gone into meltdown mode today after Trump announced a pullout from Syria.

America has no right to be in Syria at all, zero. It is a war crime to invade a foreign country.

America has protected ISIS and attacked the Syrian army repeatedly when the SAA had engaged ISIS and other terrorist factions.

All the major gains against terrorist militias have been in areas far away from the illegal American occupation.

American invaders have put the US in direct confrontation with Russia, which is helping keep the legitimately elected government of Syria in power. The risk of all-out World War Three remains.

Pulling out US invading troops from Syria lessens that risk.

When completely ignorant celebrities like Mia Farrow, Cher, and Bette Midler weigh in on matters well above their pay grade, ask them why this was never a concern of theirs:

 

They think their Tweets have some relevance to keeping us “safe.”

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Fascist, racist, police state continues through a barrage of bald-faced lies.

Conclusive proof that it is Trump’s policy to separate children from their families at the border

 

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PS.

Look who I agree with today…

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PPS.

BIG LIE.

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Is this a Crime Against Humanity yet?
The Latest: Fed agency says it lost track of migrant kids

The Health and Human Services Department says it uses its limited funds to track the safety of at-risk children, and could not determine where 1,475 missing minors had gone.

This is the most outrageous thing I’ve read yet about the most outrageous administration of our lifetimes.

CIA’s Mexico Branch

Posted: October 20, 2017 in -
Tags: , , , , , , , ,

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CIA’s asset in Mexico was architect of some of the worst atrocities of the Dirty War

Agency considered spymaster Miguel Nazar Haro’s brutal reign a period of “stability” that justified his ties to narcotics, the murder of a DEA agent, and even genocide