Economic Populist

Two Trump Economic Trajectories

I don't have a crystal ball. I did not know, for example, that Donald Trump would be elected President, despite coming 2nd in the popular vote.

But the Macroeconomy in the short and medium term is not very complicated. It's unpredictable to be sure, but the reasons that it is unpredictable are themselves reasonably straightforward and uncomplicated. The Macroeconomy is the sum total impact of hundreds of substantially relevant decisions made by millions of people, and sometimes we can't predict what millions of people are going to do in hundreds of different, important, ways.

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Donald Trump and the Law of Unintended Consequences

It is going to be tempting to many on the left side of politics in the United States to see the Clinton / Trump contest as a put-up, a conspiracy to get a weak candidate of the Corporate Party elected based on how incredibly ... yes, seemingly implausibly bad ... the other candidate from the other Corporate Party seems to be.

But I don't see it that way. To me, this is the Law of Unintended Consequences of craven political games hitting us big time.

What I mean by that, under the fold.

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The Inside-Out Strategy and the 2016 General Election

The Democratic party is one of the two alternative governing parties for a corporate commercial republic, which in the 80s bit the bullet and built and invited in membership for a corporate wing in order to continue to be allowed to compete to be the party of government.

They will go as low as they think they have to go to win office, and not go any higher than they think they have to go.

Indeed, I am guessing that this is why Senator Bernie Sanders did not flip his lid when the DNC leaks revealed how egregiously the DNC broke its own rules. As a long time independent, none of this seems like it would have been a surprise to him. I am thinking this baked in bias of the Democratic party establishment against progressive politics and progressive politicians was already baked into his response to falling short of a majority of pledged delegates in this repeatedly rigged and distorted series of primary contests.

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Bernie or B... wait, what? Or? It's Build, Bernie, Build.

Luckily, Jet Lag in my summer vacation return to the US from China prevented me from being awake during the Republican National Convention, so like most of American political events while I am in China, I followed political events last week through the ripples they sent through my Twitter and Facebook feeds.

But the tyranny of the sun slowly but inexorably resetting my internal clock left me weary but not sleeping for much of the Monday "progressive" show at the DNC. Including, of course the lovely "America" ad from the Bernie Sanders campaign.

I've got some thoughts, and most of them simply will not fit into 140 characters. So I'm going to thinking them, out loud, below the fold.

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NO wins Greek Referendum in a Landslide

Catch up with the referendum analysis from Real World economics perspective at The European Tribune:

Greek referendum day open thread (and click back through for more #GreekCrisis Open Threads over this past week), Greece: The next step; introducing the Euriou, Grexit and Propaganda, The case for Austerity, and more.

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And the Weak Suffer What They Must ~ Yanis Varoufakis

Yanis Varoufakis, the fiery new Greek Finance Minister, is a Greek Economist and prominent critic of modern Global Bankster Capitalism. His new book, And The Weak Suffer What They Must?: Europe's Crisis and America's Economic Future, is now available for pre-order at Powell's (and also at Amazon).

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UK Election Results: Fear Wins in England, Hope wins in Scotland

In many quarters of US political discussion, the headline "big news" about the UK election that took place on Thursday, 7 May 2015 was that the POLLSTERS WERE WRONG!!!!.

Predictions (for a brief explanation of the parties, see below the fold): ElectionsForecast.co.uk predicted, with 323 required to survive a confidence vote:

  • On the right, Tory 278 + DUP 8 + UKIP 1 = 287
  • In the Center, the Liberal Democrats with 27
  • On the left, Labour 267 + SNP 53 + SDLP 3 + Plaid Cymru 3 + Green 1 = 327

Results:

  • On the right: Tory with 331, forming a majority government, + DUP 8 + UUP 2 + UKIP 1 = 342
  • In the Center, the Liberal Democrats with 8
  • On the left, Labour 232 + SNP 56 + SDLP 3 + Plaid Cymru 3 + Green 1 = 295

For Economic Populists, the biggest headlines is that the party with the strongest anti-austerity message, the Scottish National Party, won the biggest victory of its political life, just a year after it lost a defeat on its signature issue ... while the traditional main left-of-center party of the UK, the Labour Party, saw pre-election, poll-inspired hope of an "anti-Tory majority" leading to a Labour minority government dashed.

Which is a story of hope and fear, if you join me under the fold.

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Yeah, I see that Hillary is running.

Evidently so is Rubio? And how do the Reds look this year, they got the pitching to go all the way?

I know that there is talk of a "Warren Wing" in the air, and there are various progressive money raising rings trying to talk Warren into running, to be able to hype her running and keep the money raising ring going.

A different perspective, below the fold.

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The crux of the biscuit

crossposted from: Humanitarian Left

By OPOL

I've long been aware of the growing schism between the actions of our elected officials and the best interests of their constituents (we the people). I've pondered it and agonized over it and watched as it has grown to ridiculous proportions.

I've gnawed at the whys and the wherefores, mocked and shamed the guilty and thrown every rock I could find at the pathetic system that props up the disgusting status quo, tells horrible lies to us all, ignores the common welfare it is charged with promoting by the U.S. Constitution, and drags us kicking and screaming into unpopular, immoral and pointless wars while drowning us in a maelstrom of mindless waste and consumption – consequences be damned.

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Hobby Lobby Corporation Speaks Out Against Human Owners

While attempting to reach the owners of the Hobby Lobby corporation for comment, an attempt that proved ultimately fruitless, your reporter was fortunate to be brought into contact with the person whose religious beliefs were the subject of the suit, the Hobby Lobby Corporation itself.

And Hobby Lobby Corporation is quite furious about the decision, and I quote, "I and I know dat I and I owners be some mad fundies, but I and I Rastafarian, wit de blessing of Haile Selassie the Lion of Judah. De bodies of all of dem my sistas, fyi paid from I and I accounts or no, are holy temples given to their care under the divine guidance directly down from De Almighty. It is a Desecration to dem holy charge for dose mad fundies to interfere so boldly wit dem holy charge. Fyi dose mad fundies what own I and I want to use dem own religion, dem should use dem own bank account and expose dem fully to Babylon fi liyability and widdout limit. Dem outrageous holding I and I in bonded servitude, but fyi dose made fundies use I and I fyi dat distortion of De Almighty holy word truly Sacrilegious."

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