The political opposition to the Harpers Ferry raid are the same people today trying to impose spending cuts on people who don't have significant financial wealth or income, domestically expel anyone from Latin America, & remove African American history from school curriculum
@rch371@afalkhatib Yea the main beneficiary of Gaza suffering are the goddamn Israelis who started this in the first place. Yall did a fucking holocaust and acted like it was in self defense. Trash religion and trash people
@rch371@ahmed If you want to get rid of the Nazis, start with the Europeans in Israel (the whole government and most its citizens) who are rounding up and holocausting the Palestinians (in order to steal Palestinian assets)
@milkroaddaily Lyn, despite engineering training (& wanting to be a white man?), doesnโt know history or monetary policy. Credit expanded in the Volcker era faster than most periods. High rates regressively pump the economy full of income. Gov adds the money; private sector only adds credit.
@milkroaddaily Other powerful countries can tell you to liquidate your gold and historically that has been all it takes
This episode is just full of historical revisionism
@jbmichau@HannoLustig Ever since we globally went to fiat itโs been a fiscal dominance world. Raising rates doesnโt guarantee a lower debt to gdp ratio (usually guarantees higher inflation tho). Current debt to gdp is sustainable also (benefit of fiat). Every economy should go to ZLB
@vsaietta@HannoLustig only way to make the yen go up is for them to sell fx reserves & change their trade balance. This โinterventionโ by the BOJ or USTreasury will not work. They can also sell all of their us treasuries & nothing happens to the US or global markets. Yen carry trade isnโt fundamental
@MiguelSCompton Iโd suggest you learn the difference between floating fx and fixed fx policies. Youโre just not even right that Gov spending is paid by the consumer
@vsaietta@HannoLustig Japan wants weaker yen to support exports. Japan likes to hold foreign fx reserves.
Rate differentials donโt matter in floating fx regimes
@jbmichau@HannoLustig Yea all of it. Inflation isnโt necessary for Japan to support its domestic economy. Their debt to gdp means raising rates will increase inflation and lower the JPY
@HannoLustig Raising rates lowers the currency in a floating exchange system. Hard to get currencies to go up when youโre adding more supply via interest income
โ...the victory of fascism was made practically unavoidable by the liberals' obstruction of any reform involving planning, regulation, or control.โ Karl Polanyi, 1944
The problem with capitalism is that if you aren't born into wealth, your only capital is your labor. Automatically, your human body, is now a commodity that you must sell, and if you can't sell it for enough, you won't be able to care for it and will lose your capital.