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#economics

23 posts18 participants0 posts today

🇬🇧 **‘Greedflation’ fears rise as Bank official warns firms against price hikes**

“_In a warning to retailers and consumer goods companies to resist pushing up prices by more than the increase in their costs, Mann said she was wary of firms looking to rebuild their profit margins after a squeeze in recent years._”

🔗 theguardian.com/business/2025/.

#Inflation #Economics #Prices #Profits #UK #UnitedKingdom #Britain @economics

The Guardian · ‘Greedflation’ fears rise as Bank official warns firms against price hikesBy Phillip Inman
Continued thread

As a general rule I avoid all discussions about governmental deficit spending because I don't want to have to teach a two year course on economics before I can get ignorant people to understand government spending is not at all like the way they balance their own personal checkbook. Given that every time they're asked why they want to starve children and seniors to fund massive tax cuts for billionaires, Trump and the larger GOP start fearmongering about the federal deficit however, the shocking financial details of the budgetary bill the fascists are trying to pass becomes a story about propaganda and openly lying to the American people. So how much would this spending bill, which according to the ruling party is absolutely necessary to prevent debt-induced economic collapse, going to shave off the US deficit? Turns out, nothing; in fact, current estimates say it's going to add $3.8 trillion (with a t) dollars to said deficit.

commondreams.org/news/gop-reco

Congressional Analysis: GOP Tax Gifts to Rich Would Explode Deficit They Always Complain About

"While Republicans on Capitol Hill—including the leaders of both chambers of Congress—have long argued for reducing the national debt, the GOP is now pushing a tax bill that would not only fund giveaways to the rich by gutting programs that serve the working class, but also add $3.8 trillion to the U.S. deficit."

Speaking honestly, one of the things I absolutely detest about American politics under the capitalist duopoly is the way liberals will adopt false Republican talking points as a sort of gotcha or "hypocrisy" argument; I have little patience for deficit hawks at the best of times, and this isn't the best of times. I don't care about the US federal deficit, you shouldn't care about the US federal deficit, and the US economy isn't being cratered by America's national debt, it's being cratered by pro-oligarch economic policy that's allowing more and more to be extracted from US labor in the short term, at the cost of investment that might benefit us all on a long enough timeline. We know from our other discussions that this is because nazi billionaires think it's the end of the world and they're cashing out now to prepare for dystopian fascist police states in an ongoing climate apocalypse; none of this has sweet fuck all to do with US federal debt.

So, if we can agree to set aside the absurdity of the argument that this is bad because the GOP is increasing the national debt, we can then focus on the real, and extremely obscene reality we're looking at. Specifically that no matter what they say, no matter what lies they disseminate, no matter what excuses they offer up, the GOP is slashing billions of dollars in spending that benefits everyday Americans across the entire political spectrum, to give the ultra-wealthy and US corporations tax massive tax breaks that will only rapidly magnify the wealth inequality that's driving our collective social decline. This isn't economic policy, this isn't about managing the long term financial interests of the American people, this is fucking murder and theft. Full stop.

Common Dreams · Congressional Analysis: GOP Tax Gifts to Rich Would Explode Deficit They Always Complain About | Common DreamsRepublicans are pushing a tax bill that benefits the rich while adding $3.8 trillion to the deficit and stripping healthcare from millions.

Book club coming up! To prepare, I am re-reading @pluralistic 's "The Lost Cause" looking for characteristics of the economy of the world in which the novel is set. So far I spotted:

* Modern Monetary Theory
* Job Guarantee
* Anti-monopoly policy (several large companies have been broken up: "Baby Ikeas" etc.)
* Crypto-friendly theories of money (refuted, but with some empathy).

What am I missing?

Everyone welcome! Info and link: lu.ma/8ldrqsgk

#economics
#sciencefiction

lu.maSci-Fi Economics Book Club: "The Lost Cause" by Cory Doctorow · LumaAll information here (no login required): https://edgeryders.eu/t/science-fiction-economics-bookclub-the-lost-cause-by-cory-doctorow/20946

HEADLINE: "Wealthy elite responsible for vast majority of global climate warming"
➡️ earth.com/news/wealthy-elite-r

You and I already know this, of course. But by sharing it widely, perhaps we can start convincing others of the urgent need for system change.

A few excerpts from the article...
_______________________________

In a new analysis, the world’s wealthiest 10% are reported to have caused two-thirds of observed global warming since 1990.

Researchers also noted that emissions from the richest 10% in major economies, such as the United States and China, caused a two to threefold increase in dangerous heat conditions across vulnerable tropical areas.

These hotspots include Southeast Asia, southern Africa, and other regions with limited resources to handle amplified environmental stress.
_______________________________

Take a look at the graphic below.

Although it's from a different study, this clearly illustrates the gross disparity between responsibility for dangerous global heating – borne by the richest 10% – and the pitiful lack of resources held by the bottom 50%, crippling their ability to deal with the terrible losses they face.

📖 **The Measure of Progress: Counting What Really Matters**

“_Coyle argues that to understand the current economy, we need different data collected in a different framework of categories and definitions, and she offers some suggestions about what this would entail_”

🔗 press.princeton.edu/books/hard.

#Read #Nonfiction #Book #Bookstodon #Economics #Statistics #Finace #Economy #Data @bookstodon @economics @finance

Cover of The Measure of Progress
press.princeton.eduThe Measure of ProgressWhy do we use eighty-year-old metrics to understand today’s economy?

The so-called 'world leader' reveals its true face once again: Washington actively sabotages UN development financing reforms, demanding removal of 'climate,' 'gender equality,' and 'sustainability' from the FFD4 agreement.

While the world seeks systemic solutions, America peddles its neoliberal poison. Their game is clear: throttle any measure threatening Wall Street's exploitation, from solidarity levies to social spending.

reuters.com/sustainability/cop

One insidious aspect of the US/UK framework deal for trade negotiations is the issue of standards... it looks like (willingly?) the UK is considering a shift to de-allign standards (even if they are not diluted) various aspects of standards setting from European models & towards US standards setting.

If so, whatever Starmer says about not choosing between the US & EU, this would likely make any 'reset' in UK-EU relations harder, and less far reaching!

#economics #standards #politics

h/t FT

The more POTUS Trump backtracks from his 'tariff shock' the more it looks like an extended strategy of market manipulation for his investor friends who were able to 'buy the dips'.

I'd be interested how many of Ttrump's chums have made quick gains by by either shorting ahead of his tariff announcement(s), or buying in the turmoil after, and now selling as prices recover?

The number will be more than zero & might be quite a high proportion of his social circle, would be my guess.