Covers a lot of historical ground.
Neocons: the Echo of German Fascism
Todd E. Pierce
What Berdyaev, Solovyev, and Ilyin actually said.
Paul R. Grenier
Early this morning, the Senate approved a Republican-authored budget that features deep cuts in spending, no new taxes, and hopes of a balanced budget within the next decade. However, not only could their plan never achieve what they hope, it would be an absolute economic catastrophe. Let’s hope it never sees the light of day.
The level of ignorance regarding federal government budgeting is horrifying. I don’t just mean among lay people or the general public, but right up the both houses of Congress and the White House-–you know, the people who actually make the decisions. Nor is it limited to one party. While the Republicans have been far more rabid about it, the
Democrats, too, are anxious to see the day when the budget deficit is not only smaller, but eliminated entirely. Best of all, they say, we might even reach the point of having surpluses that can cut into our massive national debt. While they may prioritize these goals differently, it appears that just about every single politician in Washington shares these sentiments.
God help us.....Taking the moron fest to task.
The invaluable Levada Center, Russia’s only genuinely independent polling agency, regularly conducts a survey about Russians’ attitudes towards the government, the economy, and the proper relationship between the state and its citizens. The 2015 results were just released, and it makes for rather depressing reading [to Western liberals].
Basically, right across the board, Russians have become substantially more statist and nationalist in their views.....
It should seem obvious, but you need to pay attention to what the Russian public thinks. It might be nice to assume that it wants exactly the same things that we do, but all of the evidence suggests that this isn’t true.Turns out that most Russians are very conservative rather than liberal. The odds of a liberal regime coming to power are very low.
For many analysts the term Russky mir, or Russian World, epitomizes an expansionist and messianic Russian foreign policy, the perverse intersection of the interests of the Russian state and the Russian Orthodox Church.
Little noted is that the term actually means something quite different for each party. For the state it is a tool for expanding Russia's cultural and political influence, while for the Russian Orthodox Church it is a spiritual concept, a reminder that through the baptism of Rus, God consecrated these people to the task of building a Holy Rus.
The close symphonic relationship between the Orthodox Church and state in Russia thus provides Russian foreign policy with a definable moral framework, one that, given its popularity, is likely to continue to shape the country's policies well into the future.....It's not possible to understand current events involving Russia, Russians, and Russophones in other countries without understanding the significant of the concept of Russky mir. Otherwise it is just projection. Religious people of the West were praying for the conversion of Russia. Well, they got it and now will have to deal with it.
Put together by Nathan Cedric Tankus
Our biggest hurdle seems to be the slow population-penetration of mission-critical information.That's a fatal malady for democracy.
Why so many empty church pews?
The 1970s saw declines in employment for less-educated men, divergent incomes for college-educated and less-educated men, and a “breathtaking increase in inequality” — all of which left college-educated families and their communities with more financial resources, and poor and working-class communities with fewer resources.
The Russian state corporation Uralvagonzavod (UVZ) may start cooperation with China on its project of development and production of locomotives, CEO Oleg Sienko said in an interview to TASS.
Earlier the corporation planned to implement the project jointly with the US-based Caterpillar, however, the cooperation was frozen due to sanctions introduced by the US against UVZ.TASS
"The Chinese [companies] may come instead of Caterpillar, we’re studying this issue. We even have joint framework agreements singed," Sienko said....
Russians sold more foreign currency than they bought in January for the first time in two years, the Central Bank said Wednesday, in a sign that last year's panic over the ruble has subsided.
The Russian currency went into meltdown in December as a months-long devaluation prompted by Western sanctions and oil price falls turned into a rout. Massive demand for dollars and euros among Russians exacerbated the ruble's plunge, which peaked on Dec. 17, when the ruble fell 20 percent against the U.S. dollar within a few hours of trading.The Moscow Times
But the rout appears to have run its course for now, with demand for foreign cash falling sharply in January, according to data published by the Central Bank.
"The strategy emphasizes the U.S. ambition to begin forming a new global economic order. A special role in this order should be played by the Trans-Pacific Partnership and the Transatlantic Trade Investment Partnership, which will help the U.S. get central positions in free trade zones encompassing two-thirds of the world's economy," the document says.
The armed forces are regarded as the foundation of U.S. national security and "military superiority is considered the main factor in U.S. world leadership," the Russian Security Council said.
The document retains the determination "to use military force unilaterally at any spot in the world and preserve military presence abroad," it said.Russia to take into account threats resulting from new U.S. security strategy
Russia’s Deputy Prime Minister Arkady Dvorkovich announced at a Krasnoyarsk Economic Forum on February 27 that agreement has been finalized between the two countries on a proposal made by Chinese Prime Minister Li Keqiang during his October 2014 visit to Moscow to construct a 7,000 km and $242 billion high-speed rail corridor going from Beijing across Kazakhstan and Russia to Moscow. The project will include a high-speed Moscow to Kazar in Russia’s Autonomous Tatarstan.
Research shows that when governments provide citizens with economic security, they embolden them to take more risks.
According to the Helmer theory of Russian political economy, first propounded in 2002, people who haven’t been paid spend their time blaming the Kremlin for their pain. When arrears rise, the president’s approval rating falls.....Dances with Bears
A New Structure for U. S. Federal Debt
A new paper by that title, here.
I propose a new structure for U. S. Federal debt. All debt should be perpetual, paying coupons forever with no principal payment. The debt should be composed of the following:
- Fixed-value, floating-rate debt: Short-term debt has a fixed value of $1.00, and pays a floating rate. It is electronically transferable, and sold in arbitrary denominations. Such debt looks to an investor like a money-market fund, or reserves at the Fed.
- Nominal perpetuities: This debt pays a coupon of $1 per bond, forever.
- Indexed perpetuities: This debt pays a coupon of $1 times the current consumer price index (CPI).
- Tax free: Debt should be sold in a version that is free of all income, estate, capital gains, and other taxes. Ideally, all debt should be tax free.
- Variable coupon: Some if not all long-term debt should allow the government to vary the coupon rate without triggering legal default.
- Swaps: The Treasury should manage the maturity structure of the debt, and the interest rate and inflation exposure of the Federal budget, by transacting in simple swaps among these securities.
Of these, I think the first is the most important. Think of it as Treasury Electronic Money, or reserves for all. Why?....Consols.
A new online survey of some 10,000 Americans’ reaction to growing income inequal- ity offers novel insight into public perceptions of inequality and what—if anything— should be done about it. The survey first presents some respondents with information about the extent of inequality—for example, by displaying how much more income a respondent would earn if increases in economic growth since 1980 had been more evenly distributed—and then assesses their attitudes toward inequality and policies aimed at ameliorating gaps between rich and poor, compared to other respondents who did not see the information. The survey shows that while respondents who view information about inequality are more likely to believe that inequality is a serious problem, they show no more appetite for many government interventions to reduce inequality— with the notable exceptions of increasing the estate tax and the minimum wage....
Importantly, our results also suggest that this aversion to government intervention is due to a deep level of distrust in government. In a sense, respondents who have learned the role of government in creating the current level of inequality seem to be telling us they do not trust that government is also the entity to address the problem.
This last finding is, to our knowledge, the first direct evidence of the causal effects of trust in government on redistributive policy preferences. Our findings highlight the potential role of mistrust in government in limiting enthusiasm among the general public to certain kinds of government policy programs—such as the Supplemental Nutrition Assistance Program and the Earned Income Tax Credit—designed to help close the wealth and income gap.
Research into the connection between mistrust of government and policy prefer- ences is only just beginning. For instance, economists Paola Sapienza at Northwestern University’s Kellogg School of Management and Luigi Zingales at the University of Chicago’s Booth School of Business find that Americans support higher auto fuel stan- dards over a carbon tax-3and-rebate program because they do not trust the government to in fact rebate the tax. Given that by most measures, Americans trust in government is at record lows, future work on its consequences would be welcome....
Ilyana Kuziemko is an economics professor at Princeton University, Michael Norton is a professor of business administration and marketing at Harvard Business School, Emmanuel Saez is an economics professor at the University of California-Berkeley, and Stefanie Stantcheva is an economist at Harvard University
Students in Montreal #Canada protest government spending cuts. Is this the start of #MapleSpring? https://t.co/JZwQxVeXp6
— AJ+ (@ajplus) March 23, 2015
Wicksell argued that if interest rates rise above some “natural rate,” they weaken investment demand and growth, while if they fall below it, they spur excessive demand and inflation. But markets inherently correct imbalances, restoring optimal equilibrium.
Keynes disagreed. “The economic system . . . seems capable of remaining in a chronic condition of subnormal activity for a considerable period without any marked tendency either towards recovery or towards complete collapse,” he wrote. “The evidence indicates that full, or even approximately full, employment is of rare and short-lived occurrence.”....
But isn’t Keynes now mainstream? No, say Foley and Taylor. The mainstream still sees economies as inherently moving to an optimal equilibrium, as Wicksell did. It still says demand causes short-run fluctuations, but only supply factors, such as the capital stock and technology, can affect long-run growth. ....
As taken from the US House Resolution:
"Whereas the United States and its allies need a long-term strategy to expose and challenge Vladimir Putin’s corruption and repression at home and his aggression abroad;"
Let that sink in for a second. The United States Congress has put, in writing, their goal to formulate a “long term strategy” to challenge the democratically elected President of Russia, Vladimir Putin.Like this is something new for the US? I'm surprised that anyone is surprised.