The financial system is not stable.
It is built on a dangerous mismatch between private debt and financial assets, and that is why bubbles rise, panic, and crash.
I explain why in the full video, so do check it out.
#SteveKeen#Economics#Debt#FinancialInstability#YouTube https://t.co/pZ74nYnC9h
A Swedish court has ruled that the seizure of a cargo ship in the Baltic Sea was lawful and that it can be handed over to Ukraine on suspicion of illegally transporting grain from Russian-occupied territory.
Bravo, Sweden!
Fantastic, clearer message from Andy Burnham 🔥
But if the Labour government is awake it should nationalise Thames Water BEFORE THE BY-ELECTION
Shareholders have walked away - zero compensation
Debt can be slashed
100+ MPs telling @Ofwat to stand firm 👇https://t.co/IpiEN6ZcnD
Mearsheimer says China could not rise peacefully.
But the comments got to the real question:
China already rose peacefully.
It did not bomb its way into the world’s second-largest economy.
It did not build 800 overseas military bases.
It did not sanction half the planet.
It did not invade, assassinate, regime-change, and call it “order.”
China rose through factories, ports, railways, power grids, shipyards, engineers, workers, and decades of national discipline.
The real question is not whether China can rise peacefully.
It already did.
The question is whether America can decline peacefully.
And that is where the real danger begins.
PM Edi Rama said that no amount of protesters can stop him, so the Albanians took that as a challenge!!!
Protests against Kushner's Epstein Island 2.0 continue into the night.
Neoliberalism has landed the UK with a housing crisis.
Cuts in real wages, workers share of gross value added; profiteering, sale of social housing has left millions struggling for a home.
Can't deal with social problems without abandoning neoliberalism.
https://t.co/pOUoJsmCE9
The UK government vastly underestimated carbon emissions from AI data centres and now raised their estimate by more than x100.
Energy use by AI data centres in the UK could cause emissions of 123m tonnes of carbon dioxide – as much generated by 2.7 million people over 10 years.
Net zero for us, but not for the tech giants.
– balanced $12.2 billion budget deficit
– fixed 100,000 potholes
– released $124.7 billion budget for FY2027
– returned $9.3 million to workers, etc
– lowest crimes in history of NYC
NYC mayor Zohran Mamdani is doing more than the expected
Thank you to @DoubleDownNews for highlighting @thenerve_news’s Palantir reporting. This show with @PulaRJS is great new addition to UK media’s small but growing indie news ecosystem.
Imagine spending months claiming you’re going to make government more efficient…
…only to get outperformed by a democratic socialist mayor.
@ZohranKMamdani
Entering month 6 of the Mamdani mayorship of NYC and Robberies are down 11%, Retail theft is down 19%, and Murder is down an astounding 21%.
And he did so without "Adding 5000 new cops" to the streets. Instead, he's invested in public safety with free childcare, accessible infrastructure, and better funded schools and libraries. He's proven once again that if we want safer communities, we must invest in People—not Punishments.
Ossoff: Last September, the President of Kazakhstan calls Donald Trump and says he wants to grant tungsten mining rights to an American company. And the very next month, Eric and Don Jr. get a stake in the American company pursuing the mining deal.
Six days later, six days after Prince Eric and Prince Don get their stake, Kazakhstan announces this company will get, “The largest known undeveloped tungsten resource in the world.” A few more weeks go by, and then the U.S. government, run by their father, sets aside 1.6 billion of your tax dollars to fund and finance their mining project. In Kazakhstan.
All this while you pay more for gas, for groceries, for health care, and that's just the tip of the iceberg.
Chinese people are not terrified of AI because China mostly presents automation as a way to remove humans from dangerous, exhausting, hostile work:
Coal mines, power grids, extreme weather, heavy industry, and disaster response.
In America, AI arrives with layoffs, “efficiency,” restructuring, shareholder value, and workers being told their lives are obsolete.
Same technology, different civilization logic.
One asks: How can machines reduce human suffering?
The other asks: How many humans can we remove from payroll?
AI does not automatically become dystopia.
It becomes dystopia when capitalism owns the switch.