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  • rogerglewis 9:04 am on September 18, 2017 Permalink | Reply  

    Guaranteed Income and Living Wage Schemes Cannot Possibly Work 

    Skepticism awaiting added argument.


    Facebook founder Mark Zuckerberg Supports Universal Basic Income.

    In its basic form, universal basic income means “everyone gets a paycheck, whether they have a job or not.”

    Many expect even more. They want a guaranteed “living wage”.

    View original post 171 more words

  • rogerglewis 8:47 am on September 18, 2017 Permalink | Reply  

    Mosler on “Where Does Money Come From?” 

    Very useful discussion in the comments.

    Origin of Specious

    I was recently at a dinner event with Warren Mosler, organised generously by Ralph Musgrave of the Ralphanomics blog.

    The event included both MMTers and Sovereign Money proponents. It was a great event, and I think everyone got a lot out of it, even the Sovereign Money people.

    Here is a photo of us, with Warren (somewhat ironically) holding up a Positive Money shirt. Notice smiling non-Brits on one side, unsmiling Brits on the other (hee hee hee):

    Mosler.2 Left to right: Me, Warren, Ralph, Andy Blatchford, Mike Harley, William Richardson

    One of the pleasures of the evening (for me at least) was hearing Warren making a careful, line-by-line criticism of the book Where Does Money Come From?, published by the New Economics foundation. I’ve heard little but praise for that book, which I believe to contain a number of misleading statements. So it was reassuring to hear Warren taking issue…

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  • rogerglewis 8:14 am on September 18, 2017 Permalink | Reply  

    #105: Anticipating the next crash 

    Re-Blogging before commenting. In this very complex question separating Apples from Oranges and avoiding inevitable circular reasoning is an important and non-trivial task.

    Surplus Energy Economics


    Because the global financial crisis (GFC) was caused by a collapse of trust in banks, it can be all too easy to assume that the next crash, if there is one, must take the same form.

    In fact, it’s more likely to be different. Whilst the idiocy-of choice before 2008 had been irresponsible lending, by far the most dangerous recklessness today is monetary adventurism.

    So it’s faith in money, rather than in banks, that could trigger the next crisis.

    Introduction – mistaken confidence

    Whenever we live through a traumatic event, such as the GFC of 2008, the authorities ‘close the stable door after the horse has bolted’. They put in place measures that might have countered the previous crisis, if only they had they known its nature in advance.

    The reason why such measures so often fail to prevent…

    View original post 3,011 more words

  • rogerglewis 8:08 am on September 18, 2017 Permalink | Reply  

    An idiots guide to arguing with bankers 

    Posted this to Facebook Back in 2011, sadly so little has changed .

    Matthew Richmond


    I was recently drawn into a petty dispute with a total stranger on Facebook about the causes of the financial crisis. Although the individual (who I will allow to remain anonymous) has some pretty bizarre views on the EU and the welfare state, his positions on the cost of the bailouts are illuminating. The exchange has some useful lessons for anyone who becomes embroiled in an argument with a financial whizz kid who thinks they can explain away the crisis using the same bankrupt thinking that caused it. I have posted the (rather long) exchange below, but I would summarise the key lessons as follows:

    1) Do not get sucked into number crunching – the key point is that the numbers are essentially meaningless, and as soon as the markets lose faith in the validity of the numbers they cease to count. If you put positive assumptions into the number…

    View original post 4,464 more words

  • rogerglewis 12:41 pm on September 1, 2017 Permalink | Reply  

    THE SINISTER REALITY OF ANTIFA: violence, secrecy, links to George Soros, & perversion of social justice causes. 

    A wonderful Blog from The Slog. essential reading along with Chris Hedges on Truth Dig.

    The Slog.

    me4  In this extended analysis of Antifa’s influence and structure, The Slog deconstructs the positive image the organisation tries to portray, and raises serious issues for anyone tempted to support it. In particular, there are awkward questions for Momentum, Diane Abbott and the British Labour movement to answer.

    Researching the coverage of Antifa’s antics in the mass media, one cannot help but discern a certain reticence to come out and call a spade a spade. Its confrontations with liberal-defined “Far Right” organisations are almost always identified in terms that include a smear-description like Nazi, neo-Nazi or racist for the object of abuse, but only ever the heroic “anti-fascist” nomenclature for Antifa itself.

    So let’s open by saying what Antifa is about, rather than what it is against.  It is an organisation that embraces the use of violence, and is openly dedicated to the destruction of capitalism. In its ranks are various…

    View original post 3,745 more words

  • rogerglewis 8:07 am on September 1, 2017 Permalink | Reply  

    #103: Down and running? 

    anyone interested in some answers had better head over the Dr. Tim Morgans Blog where there are certainly a whole heap of better questions being asked!

    Surplus Energy Economics


    Some months have now elapsed since the warning here about the very real risk of a run on the pound sterling (GBP). Though – thus far, anyway – the currency’s value has eroded rather than crashed, the relentless, almost daily setting of new lows is starting to look ominous.

    This process has an importance reaching far beyond Britain itself. As will be explained in a forthcoming discussion, the next financial crash is likely to differ from the 2008 global financial crisis (GFC) in at least one crucial respect – this time, it’s likely to be currencies, rather than banks, which are hit by a traumatic haemorrhaging of trust.

    And, if you’re looking for the likeliest candidate for a crisis, sterling stands out from all other major traded currencies.

    The real problem, frightening in its implications, is that there are almost no fundamental grounds for…

    View original post 572 more words

  • rogerglewis 5:23 am on September 1, 2017 Permalink | Reply  

    #85. Perfect Storm gets nearer 

    I feel like I found the Holy Grail, Dr. Tim Morgans Blog. Well, that´s another day of reading when I should be DIgging a Gert big hole for our new Heating System Accumulator Tank.

    Surplus Energy Economics


    If you have read Life After Growth (2013 and 2016), or before it Perfect Storm (2011), you will be familiar with the thinking on which the theory of surplus energy economics is based. Though the next article here was to have been a rescue plan for the British economy, it seems more important to update you on surplus energy economics.

    My perception is that things are starting to stir, and that the climate is becoming much more receptive to ideas which challenge the traditional interpretation of economics.

    What’s happening now?

    Though less than six years have elapsed since Perfect Storm, a great deal has changed. Back in 2011, many found it disconcerting that the head of research at a major City institution would put his name to a report stating that a tightening of the energy equation might be bringing 200 years of…

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  • rogerglewis 5:21 pm on August 29, 2017 Permalink | Reply  

    Wind Power–Some Basic Facts 

    Very interesting and a very good comments section.

    Watts Up With That?

    From Paul Homewood’s Blog

    August 12, 2017

    tags: wind power

    By Paul Homewood

    We see many glowing articles about wind power, and renewable lobbyists, such as Renewable UK, are often given undue space in the media to peddle mistruths.

    This article is designed to lay out some of the basic facts. It will naturally concentrate mainly on the UK, but I believe it will have relevance elsewhere too.

    Renewable lobbyists like to emphasise how “clean” wind power is, and how many tonnes of CO2 are saved.

    Others will argue that wind farms are a long way from being environmentally friendly, and arguably save little CO2 anyway.

    I am not going to get into these debates, as they are subjective, and therefore not relevant to an objective analysis.

    Capacity and Outputs

    So, first to some basic facts.

    Last year in the UK, according to government statistics, wind power generated 37.4 TWh…

    View original post 2,127 more words

  • rogerglewis 6:58 am on August 29, 2017 Permalink | Reply  

    Transmission planning: wind and solar 

    Essential Reading for all those who are interested in EROI and Energy Based economics.

    Climate Etc.

    by Planning Engineer

    Some of the denizens have requested an introduction to transmission planning and a discussion of how the transmission system is impacted by renewable resources.

    View original post 2,204 more words

  • rogerglewis 5:57 am on August 28, 2017 Permalink | Reply  

    Wag the Dog: but what if the Dog is a Lizard? 

    A witheringly concise exposition of the mendacity and Fickle hubris oif the US empires Power Elite. Soft Power to the left of him , Hard Power to the Right and Trump stuck in the middle( Far Right and out of sight) (sic) with Netanyahu.


    With astonishment the world is again and again looking at the servile attitude of US administrations giving the impression of permanently bowing to Israel´s prime minister and government as well as AIPAC, the Zionist lobby organization in the US. Simple minded Europeans still infected with underground stereotypes about Jewish conspiracies feel encouraged in their suspicions. Some hardcore Zionists do not regret such psychological disasters pushing Anti-Judaism (falsely dubbed Anti-Semitism, since the majority of Semites are Arabs) since it is seen as a help to encourage Jewish immigration into Israel. Not only anti-Zionist Jews (1) are suspecting this (2). But why does the single remaining empire (US) in the world pretend to dance to the tune of the government of a small country at the East of the Mediterranean Sea?

    Who rules America?

    Only people having their single source of information in commercial mainstream media will believe in the US American…

    View original post 2,594 more words

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