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Workers & Resources: why do buildings cost money?
  • Adding to the discussion, there is still an opportunity cost. The workers could be put into work elsewhere. Like, hospital vs a residential building. Both can't be built at once assuming there is no other labour which can be freed up elsewhere.

    In the accounting sense, the money is going from the game "treasury" into a blackhole (assuming everything is produced internally), the money is subtracted but not added elsewhere, an imbalance. Not an issue if you can create and destroy money at will, because it has no effect on the real economy.

  • President of the United States
  • How uncivil of him smh

  • Goddamn onion
    Featured
    Bulletins and News Discussion from June 24th to June 30th, 2024 - Waiting for War - COTW: Lebanon
  • spoiler

    not even a country smh

    i was wondering what country has exports that small

  • No, like forreal, has any country ever benefitted from a IMF loan? (Excluding the parasitical entities that created it)
  • The aim of the loan is to indebt Argentina so much that its currency will continue to go down and down and down, essentially wrecking the economy. That’s what the IMF does. That’s its business plan. It makes a loan to subsidize capital flight, emptying out the economy of cash, leading the currency to collapse, as it is recently collapsed. As soon as the $50 billion was expended, or wasted, in letting wealthy Argentinians take their pesos, convert them into dollars, move them offshore to the United States, to England, to the Dutch West Indies, and offshore banking centers. Then they let the currency collapse so that the IMF model, which it’s announced for the last 50 years, the model is if you can depreciate a currency what you’re really lowering is the price of labor.

    The right wing Chicago School propagandists keep claiming that if a country’s сurrency is depreciating, it must be because its prices are going up. But that gets the line of causality inside out. For debtor countries such as Argentina or other Lаtin American countries, the balance of payments has little to dо with domestic prices, domestic wage rates or domestic cost of production. The balance-of payments – and hence, the exchange rate – is swamped by debt sеrvice.

    https://www.nakedcapitalism.com/2018/07/michael-hudson-argentinas-new-50-billion-imf-loan-designed-replay-2001-crisis.html

  • Looking into it.
  • "We are not telling Iceland to tighten its belt in the middle of a recession. During the first year of the program, automatic fiscal stabilizers will be allowed to work."

    No belt tightening but belt tightening. They were saying no discretionary spending. "Automatic fiscal stabilizers" are just Government programs which 'automatically' rise during a recession because of people losing jobs or falling into poverty, like unemployment checks and food stamps.

    the program includes the development of a strong medium-term fiscal consolidation plan to be launched in 2010

    and that too for just one year. This is what Ukraine will be facing once the war ends and the Government remains pro-West.

  • How open source money fixes a corrupted banking system
  • Yea and why cryptocurrency isn't money with its exchange rate being determined by how much fiat currencies are entering and exiting.

  • How open source money fixes a corrupted banking system
  • OK, two cryptocurrencies as legal tender. My point still stands. If you give people a choice between crypto and fiat they will use fiat, even if it's a foreign currency like the Dollar in El Salvador.

    The solution for El Salvador or any other country using a foreign currency isn't to go with another foreign "currency" like Bitcoin but building their own currency.

    El Salvador had their own currency until they gave it up because their leader back then was a US Puppet.

  • Kenya’s Ruto announces finance bill U-turn after deadly protests
    www.aljazeera.com Kenya’s Ruto announces finance bill U-turn after deadly protests

    President William Ruto says he rejects a finance bill that contained a series of tax hikes after nationwide protests.

    Kenya’s Ruto announces finance bill U-turn after deadly protests

    IMF L

    >Ruto said he would now start a dialogue with Kenyan young people, without going into details, and work on austerity measures – starting with cuts to the budget of the presidency – to make up the difference in the country’s finances.

    Yeah Argentina is doing great because of austerity.

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    Check out the hilarious "South Park of X" Cartoon from Dave Rubin (CW: Transphobia)
  • I don't know what's worse that NFT Ape cartoon or this

  • Kenya braces for more protests after [IMF Backed] finance bill passed
    www.aljazeera.com Kenya braces for more protests after finance bill passed

    Several people were killed on Tuesday as protests turned violent after Parliament passed the contentious finance bill.

    Kenya braces for more protests after finance bill passed

    Previous post: https://hexbear.net/post/2810440

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    Rep. Jamaal Bowman, a vocal Israel critic and 'squad' member, loses primary
  • "All over the world, wherever there are capitalists, freedom of the press means freedom to buy up newspapers, to buy writers, to bribe, buy and fake “public opinion” for the benefit of the bourgeoisie.*

    https://www.marxists.org/archive/lenin/works/1921/aug/05.htm

  • How open source money fixes a corrupted banking system
  • Sole legal tender.

    Edit: I dare them to pay all Government employees in Bitcoin, demand taxes be paid in Bitcoin. It would be a funny experiment if it weren't for mass unemployment and deaths that arise out of a recession.

    It would be funny trade wise too. No other country is going to accept Bitcoin as payment for real goods and services. So, the country will have to convert Bitcoin to USD at market price (which can swing wildly) and also hope the market has enough liquidity to handle it.

  • How open source money fixes a corrupted banking system
  • money has to be backed by the state so if bitcoiners really want bitcoin to be used in everyday transactions, i would suggest running for President and replacing U.S. Dollar with Bitcoin for tax payments/legal tender.

    how will the state obtain Bitcoins? by building massive resource wasting mining farms which itll have to issue bitcoin bonds to build, making the state subservient to the private bond markets and interest rate it demands, Greek style.

    there is massive plague and the economy has collapsed? what will the state do? cant give people money or increase healthcare spending because the capacity of the state to mobilize resources is now limited by what the private sector is willing to give it or how much it can mine. oops mass death.

    bitcoiners have to be dumbest creatures alive. these people can't imagine a pro-Worker Government so they have to come up with convoluted ways to tie the hands of the state so it cant give capitalists free money.

  • Top European rights court rules Russia guilty of abuses in Crimea
  • Ukraine's allegations included unlawful detentions, ill-treatment of civilians, and the suppression of the Ukrainian media and the Ukrainian language in schools.

    Yeah Ukraine never did that.

  • At least 200 injured, 100 arrested in Kenya protests [against IMF backed tax raise]: Rights groups
    www.aljazeera.com At least 200 injured, 100 arrested in Kenya tax protests: Rights groups

    Local media reported an unidentified man died from a gunshot wound to his thigh during riot police crackdown in Nairobi.

    At least 200 injured, 100 arrested in Kenya tax protests: Rights groups

    They are increasing the regressive taxes on essential goods like fuel and vegetable oil. All of this is fully backed by the IMF.

    It they were serious about reducing the fiscal deficits (which isn't the issue) they would raise income taxes on the rich because regressive taxes on the working class (who spend much of their income) shrinks the economy.

    Article on IMFs role in this:

    https://jacobin.com/2024/03/imf-kenya-austerity-debt-william-ruto

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    Venezuela (Maduro government)

    United States (Biden government)

    https://en.wikipedia.org/wiki/Iran%E2%80%93Saudi_Arabia_proxy_conflict

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    Food

    https://x.com/NathanJRobinson/status/1800915894585147399

    Krugman, despite being a neoliberal knows that food is an essential item. So likely he is propagandizing for Biden.

    Look at personal savings rate.

    52
    Funny if true

    https://en.wikipedia.org/wiki/St._Anne%27s_Church%2C_Moxi

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    Top 20-30% in the 'Democracy Index' btw

    https://shakuf.co.il/51751

    https://www.v-dem.net/documents/43/v-dem_dr2024_lowres.pdf

    article machine translated

    MK Tzvi Sukkot (Religious Zionism) proposes amending the law known as the "Al-Jazeera Law" to give the State of Israel the authority not only to block broadcasts of foreign channels that harm national security but also to prosecute and imprison for six months anyone involved in broadcasting activities of such channels, including service providers or interviewees.

    Additionally, MK Sukkot suggests expanding the powers of the Minister of Communications to more effectively block the channel’s broadcasts and extending the law’s validity, currently defined as a temporary order, beyond the period of war and effectively without limitation.

    The Law to Prevent Harm from Foreign Broadcasting Bodies to National Security, known as the "Al-Jazeera Law," passed in the Knesset about two months ago. Consequently, Communications Minister Shlomo Karhi ordered restrictions on the Qatari channel Al-Jazeera's broadcasts in Israel. The minister's directive was approved this week by the district court, which, based on confidential material presented, determined that the channel's broadcasts significantly endanger national security.

    However, even the state admits that the law's effectiveness is limited, if it has any effect at all, in preventing security harm. Under the current law, the Minister of Communications, after approval from the Prime Minister and the government or the cabinet, can order the blocking of internet access to the channel's websites deemed to pose a significant threat to national security, remove the channel from cable and satellite broadcasts, and confiscate the channel’s equipment used for broadcasting in Israel.

    Nevertheless, those who still wish to watch Al-Jazeera broadcasts can simply go to YouTube or social networks or watch via a private satellite dish, as most viewers in the Arab community in Israel already do. Also, the ban on broadcasting from Israel does not significantly limit the channel’s broadcasts, as its offices are in Qatar, and it broadcasts from many other countries worldwide.

    The legislators have already clarified that the alleged security threat posed by Al-Jazeera broadcasts was never their primary concern. Coalition members of the Knesset's National Security Committee, who drafted the law, led by committee chairman Tzvika Fogel (Otzma Yehudit) and Communications Minister Shlomo Karhi (Likud), declared their intention to enact a law that would not rely on a security opinion but would depend solely on their discretion, sufficient to shut down any media outlet, not necessarily a foreign one, without judicial oversight or time limitation.

    MK Sukkot was one of the coalition members in the National Security Committee pushing for such draconian legislation. However, the Attorney General’s office and committee member MK Gilad Kariv fought this intention, forcing a compromise on a relatively moderate law compared to their aspirations.

    To persuade Likud, Otzma Yehudit, and Religious Zionism MKs to vote for the bill's approval for a second and third reading, committee chairman MK Fogel told them the main goal was to pass any government law so that later private bills could be introduced to radicalize it. "We have put a foot in the door," Fogel described it.

    Minister Karhi did not wait for the current Knesset session to begin and for the introduction of the proposed bills and has already started using the existing law to act against Israeli journalists and foreign media outlets not suspected of harming national security: Karhi sent a warning to all media systems in Israel that anyone in contact with Al-Jazeera would face criminal charges – despite not having such authority under the law; confiscated equipment from studios in Nazareth; sent inspector teams to follow media crews across the country; and closed a broadcasting position and confiscated broadcasting equipment of the American news agency AP.

    This week, the district court approved Minister Karhi’s orders against Al-Jazeera but shortened their duration by ten days due to administrative failure by the minister and his office. Immediately afterward, MK Fogel announced that he had placed a proposal on the Knesset table to allow the closure of foreign channels harming national security without any judicial oversight.

    While MK Fogel's proposal is not yet listed on the Knesset website, MK Sukkot did not wait for the legal proceedings and had already submitted his own proposal to the Knesset. According to MK Sukkot’s proposal, the Minister of Communications could also "instruct government bodies within their jurisdiction to stop the channel's broadcasts."

    Such general wording would ostensibly allow the minister to instruct the Cyber Directorate, for example, to intercept Al-Jazeera’s signal so it cannot be received in Israel in any way or block social network sites like YouTube or Facebook where the channel’s broadcasts can be received.

    Another change proposed by MK Sukkot is adding a clause stating that "a person engaged in the broadcasting activities of a foreign channel, after an order has been issued under Section 2(a) [meaning, after it has been determined that the channel significantly harms national security and it was decided to restrict it], is subject to six months’ imprisonment."

    This clause would allow for criminal prosecution not only of the channel’s employees who insist on continuing their journalistic work without offices or confiscated equipment. The criminal danger would loom over professionals who help the channel broadcast from Israel, employees of international news agencies providing raw materials to the channel, and even interviewees who dare to be interviewed by the channel from their homes via software like Zoom (it should be noted that over the years, IDF spokespersons and Israeli politicians have been interviewed on the channel).

    The third change proposed by MK Sukkot concerns the validity of the law, currently defined as a temporary order that will expire with the end of the state of war declared after the October 7 massacre. According to the MK's proposal, "This law will remain in effect until the end of the state of emergency declaration, according to Section 38 of the Basic Law: The Government from May 20, 2024."

    This refers not to the special situation declared on October 7 with the outbreak of the Gaza war but to the state of emergency that has existed continuously in Israel since 1948 and is renewed annually. In other words, according to MK Sukkot's proposal, the law would have no expiration limit and could be used by the Minister of Communications even after the war ends.

    The Jerusalem Journalists Association published a response to the proposed law: "MK Sukkot's horrifying proposal must be immediately removed from the agenda! If, God forbid, the proposal is accepted, it will place Israel in the pariah club of countries such as North Korea and Russia, where journalists are imprisoned and even worse! The Journalists Association will fight this proposal with all its might."

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    Colombia halts coal exports to Israel in protest against war in Gaza

    >Sergio Guzmán, director of Bogotá-based consultancy Colombia Risk Analysis, said that the decision to suspend coal exports to Israel was “shortsighted” as the global market for the fossil fuel continues to dwindle amid a transition to greener energy sources.

    >“Petro is making a grandiose geopolitical move that is poised to hurt Colombia potentially more financially than Israel, the target of the action,” Guzmán said.

    Its called doing whats right instead of doing what makes you money.

    >Colombia’s mining association ACM warned on Thursday that suspending coal exports to Israel would hurt Colombia’s economy. “This decision would not comply with international commitments by Colombia that should be respected and puts at risk the confidence of markets and foreign investment,” ACM said in a statement.

    No not the confidence of markets

    I read an article a few days ago in which capitalists were worrying about ban on coal exports to Israel.

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    Cope

    https://x.com/Alexander_Avina/status/1799590903134421104

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    How BJP Masked its Class Agenda With False Religious Narrative
    www.newsclick.in How BJP Masked its Class Agenda With False Religious Narrative | NewsClick

    In attacking the wealth tax proposal, the PM whipped up hatred against Muslims, trashed Congress, thereby protecting his super-rich patrons.

    How BJP Masked its Class Agenda With False Religious Narrative | NewsClick
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    FuckyWucky FuckyWucky [none/use name] @hexbear.net

    Pro-stealing art without attribution

    Posts 443
    Comments 1.8K