Shifting the balance of forces through sanctions against Trump and US carbon capital

Boycott Divestment Sanctions” (BDS) movements have been effective against Israeli apartheid and during 1985-94, splitting white business from the South African apartheid regime. BDS against the US could succeed if US progressives are motivated to call for a world boycott of the US government plus key Trump-related corporations. “Trump is known to like walls. Maybe a wall of carbon tariffs …

De-Dollarizing-the-American-Financial-Empire

Bonnie Faulkner:  I’ve been speaking with Dr. Michael Hudson.  Today’s show has been:  De-Dollarizing the American Financial Empire.  Dr. Hudson is a financial economist and historian.  He is President of the Institute for the Study of Long-Term Economic Trend, a Wall Street Financial Analyst and Distinguished Research Professor of Economics at the University of Missouri, Kansas City.  His 1972 book, Super …

We can’t afford not to decarbonize. Invest 1% of world GDP, the total value of all goods and services in the world = about $85 trillion per year in 2019. 1% of that is $850 billion/yr

From Dr. Scott Denning, Colorado State University, Aug 2019 Economists estimate the total cost of decarbonizing the world economy to be about 1% of global GDP. Academic economists estimate the total cost of saving our descendants from millennia of hellish struggle at 1% of GDP (plus or minus 1% — could actually cost anywhere from nothing to 2%). And yes …

Household debt is now $869 billion higher than the $12.68 trillion peak it hit in 2008: Raising the minimum wage to $15 an hour, canceling most student loan debts, offering free public higher education, and making child care affordable would help

Excerpt from Common Dreams, July 2019 “Warning Lights Are Flashing” “The country’s economic foundation is fragile. A single shock could bring it all down,” Elizabeth Warren wrote recently. “And the Trump administration’s reckless behavior is increasing the odds of just such a shock.” Among the potential triggers she laid out is the level of household debt. Warren referenced recent data …

There are basically only four ways to accumulate a billion dollars – and none of them is a product of so-called free market capitalism. The real failure is in how our economy is organized.

There are basically only four ways to accumulate a billion dollars – and none of them is a product of so-called free market capitalism. Billionaires themselves aren’t the problem. The real failure is in how our economy is organized. The way to fix it is getting rid of monopolies, stopping the use of insider information, preventing the rich from buying …

Takers and Makers: Who are the Real Value Creators? Where value meets profit meets economic rent, by Mariana Mazzucato. And deal with power…

The way the word ‘value’ is used in modern economics has made it easier for value-extracting activities to masquerade as value-creating activities. And in the process rents (unearned income) get confused with profits (earned income); inequality rises, and investment in the real economy falls. What’s more, if we cannot differentiate value creation from value extraction, it becomes nearly impossible to …

Economic Justice: 10 ways that doing the right thing would save us money

NPR MarketWatch June 17, 2019 10 ways that doing the right thing would save us money By SARAH ANDERSONThe Deficit Hawks versus the Big Spenders. That’s how the media typically portrays budget battles in Washington. We seldom hear about how government action to tackle our country’s most urgent social and environmental problems can actually save money. In a new report, the Institute …

Top 1% up $21 trillion, bottom 50% has less than nothing now, and is down $900 billion since 1989

By Matt Bruenig, People’s Policy Project June 15, 2019 | EDUCATE! Every quarter, the Federal Reserve puts out the Financial Accounts (aka “Z1” or “Flow of Funds”), which provide economy-wide aggregates for nearly every kind of asset and liability there is. Every three years, they put out the Survey of Consumer Finances (SCF), which is a household survey that records many of the same kinds of assets and …