Creating chitties isn’t creating capital.

Third, our understanding of economics is changing. We now, for the first time, really understand money. We can therefore newly understand public finances and the integration of monetary and fiscal policy that I outline in my book, using QE, at least in part. And by integrating that understanding with a willingness to let the state produce, costlessly, the capital to put the economy (public and private: this is not a state only revolution by a very long way, but a state partnered one) to work the process of change can begin.

He really just doesn’t get it, does he?

If we print lots of chitties in the basement of the Bank of England then we’ve unlimited capital to do whatever we want!

He’s still not grasped that money isn’t capital. Capital is that labour, machinery, technology, that is deployed. Money is, quite seriously, just the chitties to get it moved around. We’ve not created any more labour, no more machinery, not changed technology, by printing more money.

Which is, of course, why sending more chitties off after the same resources is inflationary.

News story for the VX Boy

This article in the today’s NY Times discusses how musicians who play near the site where John Lennon died have had trouble managing the common resource of a strategically placed park bench. Currently, however, they have worked out an informal arrangement that appears to work well. The article reminded me of the work of Elinor Ostrom, who was awarded the Nobel Prize in part for her work on self-governance of the commons.

Given that said VX Boy is the economics professor who has actually done this very thing, shared dogging busking sites.

AKA the clap

If you have pain in your vulva, you’re not alone.
Around 16 per cent of women will have vulvar pain lasting longer than three months.
They aren’t neurotic or promiscuous. It’s likely they are suffering from a condition called vulvodynia.

Yes, cheap joke, I’m a cheap sorta person

Idiot fucking stupidity

Beauty. It’s a word we all use to describe our delight in the world around us: a landscape we love; a butterfly’s wings translucent in the sunshine; or a wondrous piece of architecture. We all love beauty; we have only to watch the numbers glued to TV’s Countryfile and Springwatch, and the way we head for the beach and the countryside as soon as the sun shines, to see that it’s something that meets a real human need.

Yet you’d be hard pressed to find the word in any official document, or to hear any politician utter it today. In fact we seem almost embarrassed to talk about beauty, other than in private. Instead we have invented all kinds of pseudo, management-speak words to describe the things we need to look after: words like ecosystem services, natural capital and sustainable development. And when we’re making decisions about the future, all we seem to care about is whether we will deliver growth or generate an economic return.

Try reading one of those economic reports you’re so deriding love. The entire point of talking about ecosystem services, natural capital and the rest is to evaluate the value that people sodding place upon that beauty of the natural world.

No, really, try the Severn Barrage report for example. It calculates the costs to people of realising that there’s no more mud flats for the pretty birdies. This is why we fucking do this stuff!

Err, no, not really Ms. Valenti, not really

In a New York Times profile, Broadwell talks about her behind-the-scenes campaign to get media outlets to stop using the word “mistress”, a term that has no similar male counterpart.

“On the one hand, I don’t want to define myself by this” she told the Times. “But on the other hand, I’ve been defined by this. So if I can change things for the better because of it, then why not?”

Mistress has a meaning. The long term female lover of a man married to another. It’s neither a good word not a bad word, it’s just a word with a specific meaning.

Well, yes, seems logical

A dagger entombed with King Tutankhamun was made with iron from a meteorite, a new analysis on the metal composition shows.

Before the Iron Age (which was after Young Tut) the only source of iron was metorites, as us ‘umans didn’t know how to make iron.

So, err, yes. The vast surprise would be to find something from 1300 BC or so which was iron and not meteorite iron.

Seems sensible

British expats could lose the right to live and work in Spain in the event of a Brexit vote, the country’s Prime Minister has suggested.

The *right* to live and work there is derived from the Single Market rules. Exit that and lose the right.

There are other methods of allocating that right of course: Schengen does it (Switzerland is not an EU member but is in Schengen) and again there are other ways of doing the same thing. And Brits did live in Spain centuries before the EU was even dreamed of: so again other methods of achieving the same aim are obviously possible.

Yeah, right Amanduh

Increasingly, the evidence is pointing to a certain conclusion: Donald Trump is running for president because he believes the power and fame of the White House will allow him to settle the score in his ever-expanding list of petty grievances.

Unh hunh. And Hillary’s lust for power has nothing to do with being the fat frumpy one with glasses, right?

Well, yes, obviously

Europe’s president Donald Tusk has warned EU leaders in the bluntest terms that their “utopian” illusions are tearing Europe apart, and that any attempt to seize on Brexit to force through yet more integration would be a grave mistake.

In a passionate plea to Europe’s top conservatives, he accused the EU elites of living in a fool’s paradise and provoking the eurosceptic revolt now erupting in a string of countries.

“It is us who today are responsible,” he said, speaking at a conclave of Christian-Democrat and centre-right leaders in Luxembourg. “Obsessed with the idea of instant and total integration, we failed to notice that ordinary people, the citizens of Europe, do not share our Euro-enthusiasm.”

People will start to look askance at, think about leaving, an organisation run by utter cunts. Hardly a new finding….