qe-infinity

CLUELESS: QE to Infinity

Jehu The Commune Leave a Comment

Based on what I have described of Bernanke’s policy failure so far, is it possible to predict anything about the future results of an open ended purchase of financial assets under QE3? I think so, and I share why in this last part of this series. Author: Jehu Eaves Visit Jehu’s Website – Email Jehu I am a “marxist-in-recovery”, which …

JehuCLUELESS: QE to Infinity
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CLUELESS: Bernanke’s desperate gambit

Jehu Featured, The Commune Leave a Comment

I stopped my examination of Bernanke’s approach to this crisis and the problem of deflation after looking at his 1991 paper and his speech in 2002. I now want to return to that series, examining two of his speeches this to discuss the problems confronting bourgeois monetary policy in the crisis that began in 2007-8. Author: Jehu Eaves Visit Jehu’s …

JehuCLUELESS: Bernanke’s desperate gambit
helicopter-ben-bernanke_0

CLUELESS: “Deflation is bad. M’kay?”

Jehu The Commune Leave a Comment

The world market had been shaken by a series of financial crises, and the economy of Japan had fallen into a persistent deflationary state, When Ben Bernanke gave his 2002 speech before the National Economists Club, “Deflation: Making Sure “It” Doesn’t Happen Here”. Bernanke was going to explain to his audience filled with some of the most important economists in …

JehuCLUELESS: “Deflation is bad. M’kay?”
zombiecapitalism

CLUELESS: How Ben Bernanke is managing the demise of capitalism

Jehu Featured, The Commune Leave a Comment

So I am spending a week or so trying to understand Ben Bernanke’s approach to this crisis based on three sources from his works. In this part, the source is an essay published in 1991: “The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison”. In this 1991 paper, Bernanke tries to explain the causes of …

JehuCLUELESS: How Ben Bernanke is managing the demise of capitalism
CollapsePaulChambers1

Anarchists, Libertarians and Marxists need to change the debate on jobs and debt (2)

Jehu Anarchism, Marxism, The Commune 1 Comment

We have to change the terms of the debate on jobs and debt. We need to insist a job is nothing more than wage slavery and we don’t need Washington’s effort to create more of it by adding to this wage slavery even with more debt slavery. It is not like we have to argue existing jobs need to go …

JehuAnarchists, Libertarians and Marxists need to change the debate on jobs and debt (2)
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Anarchists, Libertarians and Marxists need to change the debate on jobs and debt (1)

Jehu Anarchism, Featured, Marxism Leave a Comment

We have to change the terms of the debate on jobs and debt. We need to insist a job is nothing more than wage slavery and we don’t need Washington’s effort to create more of it adding to this wage slavery even with more debt slavery. It is not like we have to argue existing jobs need to go away; …

JehuAnarchists, Libertarians and Marxists need to change the debate on jobs and debt (1)
Debt_velocity___unemployment

Driving a nail through the heart of the State: Unemployment and Debt

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(Shown in the above chart is the historical correlation between the change in debt and the rate of unemployment. Courtesy of economist Steve Keen and chrismartenson.com) Libertarians, anarchists and communists who sincerely favor a stateless society must realize that the present crisis is not merely, nor even primarily, an economic crisis — it is a crisis of the State itself. …

JehuDriving a nail through the heart of the State: Unemployment and Debt
Raya

Can Capital survive the abolition of the State?

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I recently came across this excerpt from a short paper by the Marxist writer, Raya Dunayevskaya. The argument is a very dense consideration of a fundamental point of Marx’s theory. If it appears obscure and incomprehensible, that is okay; I offer it only as a reference for those familiar with the more arcane points of Marx’s theory. For everyone else, …

JehuCan Capital survive the abolition of the State?
rally2

Six reasons why Marxists and progressives need to oppose unemployment compensation

Jehu Featured 12 Comments

I received this response to my post, What help for the 99ers? (Part four: It’s not personal), yesterday on GonzoTimes: Turn your soul off. Turn your humanity off. Turn your brain off. And voila, you’ve turned into a Republican “pro-lifer” who says “screw the poor”. Genius! The comment was a bit cryptic to me. Is the writer saying I have …

JehuSix reasons why Marxists and progressives need to oppose unemployment compensation
gold

Are we still in a depression? Gold says, “Yes”.

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Cross-posted from Re: The People Gold prices have averaged $1218.57 for the year 2010, as of yesterday. For the whole of 2009, the average price of gold was $972.35. This was a change of some $246.22 year over year — a rise of 25.3% in the average price of gold. We can assume, based on these figures, that the, so …

JehuAre we still in a depression? Gold says, “Yes”.