Tag: Economics

Trotsky: The Formalist School of Poetry and Marxism

Tina Marie (Ms. Cat)

LEAVING out of account the weak echoes of pre-Revolutionary ideologic systems, the only theory which has opposed Marxism in Soviet Russia these years is the Formalist theory of Art. The paradox consists in the fact that Russian Formalism connected itself closely with Russian Futurism, and that while the latter was capitulating politically before Communism, Formalism opposed Marxism with all its might theoretically.

Literature and Revolution: The Formalist School of Poetry and Marxism

China does not have allies, but has friends with partnership diplomacy

Tina Marie (Ms. Cat)

By Xue Li – Global Times – 2020/11/8

The Wall Street Journal published an article earlier this month entitled “China’s Risky Bet on a Lonely Return to Greatness,” suggesting China has no friends. China does not have allies indeed, but it doesn’t lack of friends. This is not only because of China’s historical tradition and the current international environment, but also because of China’s own choices.

China does not have allies, but has friends with partnership diplomacy

‘A win for the establishment and a loss for progressives’ — analysts react to Yellen as Biden’s Treasury secretary

Tina Marie (Ms. Cat)

‘A win for the establishment and a loss for progressives’ — analysts react to Yellen as Biden’s Treasury secretary

— “Janet Yellen’s nomination to be Treasury Secretary is a win for the establishment and a loss for progressives and modern monetary theory proponents. So far, the Biden team is mostly establishment types, which should ease the concerns of investors who feared a more leftward tilt. Although we were skeptical that Mr. Biden was going to pick Sen. Elizabeth Warren for the Treasury job, that risk has been completely removed for now.” — Brian Gardner, chief Washington policy strategist at Stifel.

…

— “She is well within the orthodoxy of the economics community, and I suspect that fact along with her familiarity will lead to a largely positive response from financial markets. More broadly, from what we have seen so far, Biden appears to be mainly choosing old Democratic hands to fill his most vital Cabinet and White House posts, people from the Obama (and in some cases, even the Clinton) years. Progressives had hoped to wield major influence in the next administration, but if Biden’s personnel choices so far are any indication, he intends to govern more from what constitutes the middle of the Democratic Party today than to push the envelope far to the left.” — Stephen Stanley, chief economist at Amherst Pierpont.

Related:

The Wall Street Journal Nominates Janet Yellen as Treasury Secretary

Inflation Is Already Here—For the Stuff You Actually Want to Buy

Tina Marie (Ms. Cat)

Inflation Is Already Here—For the Stuff You Actually Want to Buy

The pandemic provided inflationary pressure by restricting supply, so when demand rose—for example, for eating out as the lockdown eased—prices rose sharply. And because Covid-19 has intensified the U.S.-China trade war and the trend toward deglobalization, supply could be constrained for a long time.

The pandemic also creates deflationary pressure, hitting demand as people socially distance, leading to job losses and corporate cutbacks.

How Successful Were Trump’s Tariffs?

Tina Marie (Ms. Cat)

How Successful Were Trump’s Tariffs?

**Job Creation: On average, Trump’s tariffs destroyed jobs. But there were some winners and losers notably steel. The cost of the “winners” was $800,000 to $900,000 per job created. More jobs were lost elsewhere.
**Negotiation Leverage: Nonexistent. Trump resorts to threats so often on the flimsiest of grounds creates mistrust.
**Improve Security: No. Antagonizing allies never improves security.