DL Open Thread: Monday, January 25, 2021
How does inflation work? I think we all know the answer to that question because we’ve internalized Monetary Theory as babies internalize breast milk. “Too many dollars chasing too few goods.” When the demand in an economy strongly outweighs the money supply, prices go up. Therefor money supply must be tight or we’ll have a nightmarish Weimar Republic situation
In order to avoid a loaf of bread costing a wheelbarrow full of Deutschmarks we’ve adopted a program of endless governmental “austerity” marked by pursuing low public “debt” and a dependably high rate of unemployment. When governments cut services and “debt” goes down it is “good news” for the “economy”.
But To paraphrase Malcom X, good news for the wolf, is bad news for the sheep.
Modern Monetary Theory is a better way to think about money. Listen to this Highlands Bunker Podcast and and read this Vox Explainer and start thinking about money, taxation and inflation in a whole new way.
Scotland’s Leader Wants to Force Legal Independence Vote
Prospects of convicting Trump erode as GOP grows vocal against Senate impeachment proceedings
SPORTS
Several schools concerned as potential vote approaches for Delaware football restructuring
BUSINESS
On this date in 1958 United Auto Workers had some juice
The United Auto Workers (UAW) were prepared to vote on a new profit-sharing plan. This particular proposal was made by Walter P. Reuther. If this new profit-sharing plan were to take affect, workers would receive 25% of any profits over 10 percent above what companies make (net capital before taxes).
Sarah Hucksterbee Sanders to run for governor of Arkansas:
https://talkingpointsmemo.com/news/sarah-huckabee-sanders-announces-bid-for-arkansas-governor
They get the government they deserve.
Puke.
She’ll probably win, because Republican voters see politics as nothing but performance art, and her act was popular among them.
Basically deficit spending is our only option for the forseeable future. We can’t cut our way to prosperity or even solvency. Whether you understand/believe in MMT or not, it makes sense to target spending toward actual productive investments under controlled terms, rather than just dumping random lumps of cash onto corporations who will rub their hands with glee and then do whatever the f**k they want with the money.
True, but that doesn’t mean we shouldn’t be taking a big tax bite out of the malefactors of great wealth.
The Wall Street transaction tax, for example, was estimated as being able to raise $300B annually.
Yes! A 1/2 of 1% tax (0.005) on high frequency trades by institutional investors pays the entire tab for Medicare for All. True story.
Important point by an ex-Capitol Hill GOPer: Sociopaths, a category that includes all Republican office-holders, take leniency as permission. Draconian measure must be taken to get the message across.
Once the investigations about the Jan. 6 putsch are concluded, there must be consequences for those involved, and I don’t mean the Zip Tie Guy. Those in Congress who knew an attack was planned must banned from holding public office, and the ringleaders — including the ex-president himself — should hang.
Also, end Open Carry nationwide.
I want trump sentenced to the typical sentence for treason. Then for Biden to commute it to life in a cage and end the death penalty nationwide.
BREAKING: US Sen. Rob Portman (R-Ohio) just announced he will not seek reelection in 2022. He cited gridlock and partisanship as reasons. Portman is on the moderate side of conservative. What looked like a relatively safe R retention will now likely be very competitive.
Big fan of ending the insanity called Open Carry, the lawmakers were stupid above and beyond their usual stupidity when they let it happen. Now the idiots get to parade around and threaten all the rest of us.
Arizona Froot Loop Kyrsten Sinema, allegedly a Democrat, says she’s against ditching the filibuster and won’t change her mind.
Knew this would happen, don’t put it past our two resident DINOs in the senate either.