Restoring Economic Sovereignty

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The EU Needs a Bill Seidman to Save It from Itself: Cyprus and the “Reverse Toaster Theory” By William K. Black UMKC 03/18/13

Everyone involved in financial regulation in modern times with any broad knowledge of the field will know of Bill Seidman, Chairman of the FDIC and the RTC. In 1989, the newly elected President Bush (the First) had a very good idea that became the Financial Institution Reform, Recovery and Enforcement Act of 1989 (FIRREA). FIRREA was one of the very unusual cases of enhancing financial regulation. It was prompted by the lessons we had learned in containing the Savings and Loan (S&L) Debacle.

"Maastricht and All That" by Wynne Godley reposted from the London Review of Books Oct. 8th 1992

url link to the original posting

Steve Keen has reposted this, and I believe that it has enough historical significance relative to the rise of MMT/FF economics and to the ongoing disintegration of the EMU that it should be read and read again. It is still incredible that the proponents of the EMU would have designed it to be such a mess of neo-classical ideology, not economic science. for now Tadit

"Work out path towards fiscal sustainability, says China " from MSN of India

Readers, this seems to be a gem of an article relative to what is normally covered in the Western Press. I've not yet seen this bit of coverage of China's economics particularly its interior priorities as a sovereign nation. There seem to be numerous uses of certain words in a relatively technical sense, which indicates that the general public will not be familiar with the related concepts and principles. It has been supposed that China's interior fiscal policies are strongly as a sovereign state rather than a sovereign corporation.

"President Hu and Negotiations" Blythe McGarvie, Huffington Post

While this article is moderately informed it is lacking one major piece, the whole concept of strategy is vastly different between the western corporate imperialists and the Asian cultures. The courtier diplomats and CEOs really have been operating at the level of a thuggery and bribery version of chess. The effects of Operation Paperclip as contrasted to the finesse of guerilla warfare. The nature of the game "Go" embodies a strategy of territorial control, not of medieval bludgeoning.

"Chinese Trade Policy Must Focus on Social Consequences" By Marshall Auerback, UMKC, CLPS , New Deal 2.0

Readers, this actually a rare article to the extent that it criticizes Free Trade assumptions, which have rarely been criticized. It is an interesting concept to frame outsourcing of jobs as "synthetic immigration." In the past industrial capitalism generally encouraged immigration as a way to beat down rising expectations of unionized workers, much the same way that the plundering of Mexican lands from small scale farmers by US corporations has caused a massive migration of economic refugees into the US.

"Quo Vadis Europe? The Failure of EU's Neoliberalism" By Nicolas Mottas,,

While the new year has arrived, the dark clouds of economic crisis remain in the European sky. There are questions which need clear answers: Will Greece default? What's the future of Irish economy? Is the crisis going to spread in Portugal and Spain? Will the eurozone continue to exist in 2011? No matter what the answers are, one thing is sure: Europe is in a deep socio-political crisis, as a result of financial neoliberalism and its bankrupt policies.

"Ireland’s Reparations Burden" by Barry Eichengreen, The Handelsblatt

The Irish “rescue package” finalized over the weekend is a disaster. You can say one thing for the European Commission, the ECB and the German government: they never miss an opportunity to make things worse.

ALBA and the Promise of Cooperative Development Martin Hart-Landsberg, Monthly Review

Readers, this is a significant article. It takes the prior history of the EPU and implicitly the flaws of the EU and EMU, and makes suggestions toward regional and cooperative economic developement. ALBA, translated as the Bolivarian Alliance for the People of the Americas, is offered as a potential example of cooperative regional economic development. The primary fault of the European Monetary Union is that the economic development of individual countries is not a shared or mutual process.

Kirchner Rescued Argentina's Economy, Helped Unite South America By Mark Weisbrot The Guardian(UK) Oct.27 2010

The sudden death of Nestor Kirchner today is a great loss
not only to Argentina but to the region and the world.
Kirchner took office as president in May 2003, when
Argentina was in the initial stages of its recovery from a
terrible recession. His role in rescuing Argentina's economy
is comparable to that of Franklin D. Roosevelt in the Great
Depression of the United States. Like Roosevelt, Kirchner
had to stand up not only to powerful moneyed interests but
also to most of the economics profession, which was
insisting that his policies would lead to disaster. They

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