hashtag4
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hashtag4
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1.Mark Blythe: "The neoliberal era is over. The era of nationalism has just begun"
(underguy1)
http://forum.literotica.com/showthread.php?t=1373132
https://m.youtube.com/watch?v=-K8bf6dbYt4
https://m.youtube.com/watch?v=Bkm2Vfj42FY
N.B.
All my excerpts are less than 20% of the article or interview in question, so they're not in breach of forum rules.
(underguy1)
http://forum.literotica.com/showthread.php?t=1373132
https://m.youtube.com/watch?v=-K8bf6dbYt4
https://m.youtube.com/watch?v=Bkm2Vfj42FY
N.B.
All my excerpts are less than 20% of the article or interview in question, so they're not in breach of forum rules.
Last edited:
hashtag4
Literotica Guru
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.. https://m.youtube.com/watch?v=-K8bf6dbYt4
"MARK BLYTH:
I kept talking about Global Trumpism, and I predicted Trump's election, Brexit and Trump. This is not a local event. There's the shrinkage of Center party votes, the collapse of Left party votes in particular in western Europe.
- Greece happened. Coming next, Renzi is going to fail in the next Italian elections coming up, which is going to cause a constitutional crisis in Italy .
- Shortly after that, we have the French election coming up. I would like to remind you of the following statistics:the lowest that George Bush Jr. ever got as president in his approval rating was 29%. The president of France currently has an approval rating of 4% . And the National Front have nearly 40%. So the most popular party in France is the National Front. We have the German elections coming up: Mattel is vulnerable.
-- And there's a moment when people started to figure out that for the past 30 year's from 1985 till n ow, huge amounts of money have been generated in the global economy, and most of it has gone to a tiny fraction of the population. So there's been a huge amount of growth, but hardly anyone has benefitted. So they're a bit fed up with this , and they've decided that at any possible opportunity, whether it Is Brexit, or the Italian constitutional referendum or anything, to basically notice, that we've had enoughof this. And that's what this is.
And here's you problem; when you've levered up your banking system and you've bailed it out, dumped it on the public system saying that you all need to cut back all that terrible debt, when people's personal balance sheets are still bloated from the credit they took out in the 2000's, and they don't have wage growth, and there's no inflation to ease the burden of the debt, then the creditors fight harder to get their money back.. whether it's the form of the creditor class or the debtor class, what we have everywhere is creditor debts standoffs. And these take different forms:For the left it takes the form of Demos, for the right it takes the form of the National Front and for Trump, which has a weird coalition, which is of course sexist and racist, and all the rest of it. But one part of it is, if you look at the States that really fell hard, it's economic.
Now if you recognize that simple fact, you can put Trump in there with Brexit, with Jeremy Corbin and so on.
To end it all: in 2015, Wall Street bonuses(not regular compensations )seven years after they were bailed out with the public purse, totalled 28.4 billion dollars. Total compensation paid to every Single person from this country who earns minimum wage:40 billion dollars."
"MARK BLYTH:
I kept talking about Global Trumpism, and I predicted Trump's election, Brexit and Trump. This is not a local event. There's the shrinkage of Center party votes, the collapse of Left party votes in particular in western Europe.
- Greece happened. Coming next, Renzi is going to fail in the next Italian elections coming up, which is going to cause a constitutional crisis in Italy .
- Shortly after that, we have the French election coming up. I would like to remind you of the following statistics:the lowest that George Bush Jr. ever got as president in his approval rating was 29%. The president of France currently has an approval rating of 4% . And the National Front have nearly 40%. So the most popular party in France is the National Front. We have the German elections coming up: Mattel is vulnerable.
-- And there's a moment when people started to figure out that for the past 30 year's from 1985 till n ow, huge amounts of money have been generated in the global economy, and most of it has gone to a tiny fraction of the population. So there's been a huge amount of growth, but hardly anyone has benefitted. So they're a bit fed up with this , and they've decided that at any possible opportunity, whether it Is Brexit, or the Italian constitutional referendum or anything, to basically notice, that we've had enoughof this. And that's what this is.
And here's you problem; when you've levered up your banking system and you've bailed it out, dumped it on the public system saying that you all need to cut back all that terrible debt, when people's personal balance sheets are still bloated from the credit they took out in the 2000's, and they don't have wage growth, and there's no inflation to ease the burden of the debt, then the creditors fight harder to get their money back.. whether it's the form of the creditor class or the debtor class, what we have everywhere is creditor debts standoffs. And these take different forms:For the left it takes the form of Demos, for the right it takes the form of the National Front and for Trump, which has a weird coalition, which is of course sexist and racist, and all the rest of it. But one part of it is, if you look at the States that really fell hard, it's economic.
Now if you recognize that simple fact, you can put Trump in there with Brexit, with Jeremy Corbin and so on.
To end it all: in 2015, Wall Street bonuses(not regular compensations )seven years after they were bailed out with the public purse, totalled 28.4 billion dollars. Total compensation paid to every Single person from this country who earns minimum wage:40 billion dollars."
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hashtag4
Literotica Guru
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3 .
Global Trumpism
by Mark Blyth
https://www.foreignaffairs.com/artic...lobal-trumpism
"At the end of World War II, the United States and its allies decided that sustained mass unemployment was an existential threat to capitalism and had to be avoided at all costs. In response, governments everywhere targeted full employment as the master policy variable—trying to get to, and sustain, an unemployment rate of roughly 4%. The problem with doing so, over time, is that targeting any variable long enough undermines the value of the variable itself—a phenomenon known as Goodhart’s law. In short, the system undermined itself. The 1970s became a kind of “debtor’s paradise.” As irose, debts fell, and labor’s share of national income rose to an all-time high, while corporate profits remained low and were pummeled by inflation. Unions were powerful and inequality plummeted.
But if it was a great time to be a debtor, it was a lousy time to be a creditor. Inflation acts as a tax on the returns on investment and lending. Unsurprisingly in response, employers and creditors mobilized and funded a market-friendly revolution where the goal of full employment was jettisoned for a new target—price stability, aka inflation—to restore the value of debt and discipline labor through unemployment. And it worked. The new order was called neoliberalism.
Over the next thirty years the world was transformed from a debtor’s paradise into a creditor’s paradise where capital’s share of national income rose to an all-time high as labor’s share fell as wages stagnated.
But Goodhart’s law never went away. Just as targeting full employment undermined itself, so did making inflation the policy target. Wage earners now have too much debt in an environment where wages cannot rise fast enough to reduce those debts. Meanwhile, in a deflation, the opposite of what happens in an inflation occurs. … ..
The traditional parties of the center-left and center-right, the builders of this anti-inflationary order, get clobbered in such a world, since they are correctly identified by these debtors as the political backers of those demanding repayment in an already unequal system, and all from those with the least assets. This produces anti-creditor, pro-debtor coalitions-in-waiting that are ripe for the picking by insurgents of the left and the right, which is exactly what has happened."
Global Trumpism
by Mark Blyth
https://www.foreignaffairs.com/artic...lobal-trumpism
"At the end of World War II, the United States and its allies decided that sustained mass unemployment was an existential threat to capitalism and had to be avoided at all costs. In response, governments everywhere targeted full employment as the master policy variable—trying to get to, and sustain, an unemployment rate of roughly 4%. The problem with doing so, over time, is that targeting any variable long enough undermines the value of the variable itself—a phenomenon known as Goodhart’s law. In short, the system undermined itself. The 1970s became a kind of “debtor’s paradise.” As irose, debts fell, and labor’s share of national income rose to an all-time high, while corporate profits remained low and were pummeled by inflation. Unions were powerful and inequality plummeted.
But if it was a great time to be a debtor, it was a lousy time to be a creditor. Inflation acts as a tax on the returns on investment and lending. Unsurprisingly in response, employers and creditors mobilized and funded a market-friendly revolution where the goal of full employment was jettisoned for a new target—price stability, aka inflation—to restore the value of debt and discipline labor through unemployment. And it worked. The new order was called neoliberalism.
Over the next thirty years the world was transformed from a debtor’s paradise into a creditor’s paradise where capital’s share of national income rose to an all-time high as labor’s share fell as wages stagnated.
But Goodhart’s law never went away. Just as targeting full employment undermined itself, so did making inflation the policy target. Wage earners now have too much debt in an environment where wages cannot rise fast enough to reduce those debts. Meanwhile, in a deflation, the opposite of what happens in an inflation occurs. … ..
The traditional parties of the center-left and center-right, the builders of this anti-inflationary order, get clobbered in such a world, since they are correctly identified by these debtors as the political backers of those demanding repayment in an already unequal system, and all from those with the least assets. This produces anti-creditor, pro-debtor coalitions-in-waiting that are ripe for the picking by insurgents of the left and the right, which is exactly what has happened."
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hashtag4
Literotica Guru
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4 ."In short, to understand the election of Trump we need to listen to the trumpets blowing everywhere in the highly indebted developed countries and the people who vote for them. The global revolt against elites is not just driven by revulsion and loss and racism. It’s also driven by the global economy itself. This is a global phenomenon that marks one thing above all.
The era of neoliberalism is over. The era of neonationalism has just begun. "
Mark Blythe
https://www.foreignaffairs.com/artic...lobal-trumpism
The era of neoliberalism is over. The era of neonationalism has just begun. "
Mark Blythe
https://www.foreignaffairs.com/artic...lobal-trumpism
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