This day in history: 2005, 2015. These borrowers have no productive use for the loans, though. This is from a speech by Yanis Varoufakis entitled "Something remarkable just happened this August: How the pandemic has sped up the passage to postcapitalism, " which analyzes Aug 12's market conditions: UK GDP down 22%, FTSE100 up 2%. Latest podcast: Someone Comes to Town, Someone Leaves Town (part 13) Upcoming appearances: - Keynote for Law Via the Internet conference, Sept 22, -. That means you can use it any way you like, including commercially, provided that you attribute it to me, Cory Doctorow, and include a link to. This USPS Machine Kills Fascists (permalink). "It was in the summer of 2020 when financial capitalism finally broke with the world of real people, including capitalists antiquated enough to try to profit from producing goods and services. He's also giving away his hi-rez files: Zombie postcapitalism (permalink). I've been engaged in a similar exercise since shortly before the plague started, working on my next novel, "The Lost Cause, " a post-GND utopian novel about truth and reconciliation with white nationalist militias and their plutocratic/neofeudal paymasters. This machine kills fascists mailbox mike shine bright. So they use those loans for financial engineering: the autophagic stock buy-back, in which companies splurge on their own shares, driving the price of the remaining market shares up. This work licensed under a Creative Commons Attribution 4. "Poesy the Monster Slayer" a picture book about monsters, bedtime, gender, and kicking ass.
This USPS Machine Kills Fascists: If Woody was a postie.
It's socialism for the very, very rich, and brutal austerity for the rest. The image was so striking that it inspired illustrators to create stylized versions of it, like Mike Shine's gorgeous woodcut-style image. This machine kills fascists mailbox mike shine. Currently writing: - My next novel, "The Lost Cause, " a post-GND novel about truth and reconciliation. Mike Shine's interests range from surfing to carnivals, and his dynamic approach to art making manifests as immersive installations, which he's created throughout the Bay Area at local museums, galleries, and even at his home in Bolinas, "The Shine Shack. " Currently reading: Twilight of Democracy, Anne Applebaum. As Varouvakis writes, this is the end point of the post-2008 zombification of the world's largest companies (whose execs are mostly paid in stock, and get richer every time the zombie devours a little more of itself through buybacks).
DB's loans are on offer for very cheap, so firms that DON'T need them take them out, because when someone offers you money that cheaply, why wouldn't you take it? But Deutschebank can't force businesses to take out loans, and they hew to the banker's adage that one should never loan money to people who need it. Varoufakis offers an explanation based on performance of the post-2008 bailout market, when the finance and real economies diverged so widely that their decoupling was undeniable. Rather, these bull markets are rising on news of crashing productivity and ever-lower profitability, news that buyers of the products and services these firms sell have less money to spend than ever. That same day, the SP500 hit an all-time high. This is the process: Central banks make cheap loans to commercial banks, commercial banks make cheap loans to firms that don't need them, the firms spend that money on buybacks. Here's how that works: - The European Central Bank gives a bunch of free money to Deutschebank in the hopes that they will lend it out to businesses who'll hire and invest in capital infrastructure. The left has theorized a postcapitalist world based on a more fair and humane system of allocations, but that's not this postcapitalist system. Writing the book has been an incredibly important form of self-care during the crisis, my daily hour in the first days of a better nation. And the zombification has a name: postcapitalism, a system where the value of firms is totally decoupled from whether anyone buys their products – where profitability and share price are decoupled. 15yrsago Hunter S Thompson's ashes in fireworks display #15yrsago Locked-out CBC production staff podcasting and blogging #15yrsago Warner Music CEO calls for iPod taxes, levies — twirls moustache and cackles, clatters away on tiny, ebony hooves #5yrsago Boston's WGBH initiates careless, groundless legal action against Fedflix project #5yrsago Greece's creditors demand casino rights, archaeological sites, selloff of EUR50B of national assets Colophon (permalink). How to get Pluralistic: Blog (no ads, tracking, or data-collection): Newsletter (no ads, tracking, or data-collection): Mastodon (no ads, tracking, or data-collection): Twitter (mass-scale, unrestricted, third-party surveillance and advertising): Tumblr (mass-scale, unrestricted, third-party surveillance and advertising): When life gives you SARS, you make sarsaparilla -Joey "Accordion Guy" DeVilla.
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