Once again, getting MMT wrong

This is pure ‘bond fairy’ nonsense. Even Paul Krugman (when not writing about MMT) has debunked this sort of scare-mongering, time and again. But let’s be clear why. First, people can’t dump money. Ultimately, it’s what they have to make exchange. So the idea that they exit money forever is absurd.

No.

Money’s convenient, sure, fiat money works as long as it is so. But that money is a medium of exchange does not mean that fiat money of one particular flavour or government is the only medium of exchange available. It’s tough to buy things with confederate dollars these days. OK, so, the government doesn’t exist any more. The Feds do and continentals aren’t worth much either. Zimbabwe is still a country, still has a government. The $Zim 100 trillion note doesn’t buy much. How many zeroes have they knocked off the Soviet ruble now?

We might even concede that that departing money forever is difficult but that doesn’t mean that leaving behind one specific fiat currency is.

Coincidence?

I think not:

In the seventies, it was recognised that accountants had an obligation to produce accounts for all those who had an interest in a company, not merely the shareholders. But Murphy believes that those standards have fallen since he qualified as an accountant in 1982

Possibly a bit overinclusive

All around the world girls, women, transgender and intersex people suffer from the stigma of menstruation through bullying, cultural taboos, discrimination and the inability to afford sanitary products….

Only one direction of transgender can possibly suffer from this so don’t we need to discriminate a little more here?

This always does amuse

Larragoiti says that sugary diets are a real problem in Coca-Cola-loving Mexico, which has the world’s second-highest rate of obesity and has successfully taxed sugary drinks to try to combat a main source of the issue.

Paradoxically, another corn byproduct – fructose – is part of the problem, used to make corn syrup that has been linked to increasing obesity in the US.

“It’s kind of ironic,” Larragoiti says. “High fructose corn syrup is just a bomb of carbs and concentrated sugar that makes a high peak of insulin. It’s many times sweeter than regular glucose. Companies use and pay less and that’s the issue.”

Let’s take them at their word. HFCS is indeed part of the problem. Mexico and coke, obesity etc etc.

Mexican coke doesn’t use HFCS, US does……largely true here in Europe too, sugar, not HFCS. It’s one of those little signs of people not doing their homework, both insisting that HFCS is the problem and also that Europe uses it as the US does. To argue that it is is fine, but we need another explanation for places which don’t use it.

No, not really then

An ancient barrage of exploding stars close to Earth is the main reason early humans learnt to walk on two feet rather than all fours, according to new research.

Scientists believe the intense period of supernovae, which peaked approximately 2.6 million years ago, caused a surge in lightning strikes which incinerated much of the heavily forested Earth.

Early humans then had to adapt from living in and around trees to surviving in open savannas, meaning the ability to cross exposed grassland at speed and spot predators above the vegetation became crucial.

Such general change in the environment won’t explain why just the one species became bipedal. Not really…..

What joy to watch the infighting

Jeremy Corbyn was on Tuesday night facing a mutiny in his party as a series of crises threatened to engulf his leadership.

In a direct challenge to his authority, Labour grandees including former Cabinet ministers Charles Clarke and Bob Ainsworth publicly dared Mr Corbyn to expel them after they admitted to voting for other parties in the European elections.

Their act of defiance came after Alastair Campbell, Tony Blair’s former communications director, was thrown out of the Party for voting LibDem and helping condemn Labour to its worst electoral result in a century.

I assume that now they’ve seen how well Change UK did they’ve no fear of throwing these people out…

Most perceptive Polly

In these elections remain was the winner, not Farage.

Well, yes, clearly so.

What mattered beyond the number of seats won was the sum of remain votes. Lib Dem, Green, Scottish National party, Plaid Cymru and Change UK outpolled Brexit and Ukip by 40.4% remain to 34.9% hard Brexit. Now add in Labour and Conservative votes, divided – as pollsters Britain Thinks and YouGov suggest – by allocating 80% of Tory votes to leave, and 60% of Labour votes to remain. That suggests a remain win in a referendum by 50% to 47%. Certain? Of course not – it’s close – but this three-point remain majority certainly makes it a democratic outrage to press ahead with any kind of Brexit without giving voters the final say. And what is not in doubt is that there’s a clear majority against a no-deal Brexit.

Jeez Polly. The entire parliamentary problem is that there’s no majority on favour of any one specific outcome. All you’ve done there is state the same thing. There’re all sorts of majorities against one specific outcome and one in favour of any one. That’s the entire damn problem, isn’t it?

Thassa Lotta Coke

A Japanese man with 246 packets of cocaine in his stomach and intestines died mid-flight on his way from Bogota to Tokyo, authorities have said in northern Mexico where the plane made an emergency landing.

Hmm.

An autopsy found the man had swallowed 246 packets of cocaine, each measuring 1cm by 2.5cm. The cause of death was swelling of the brain caused by a drug overdose, prosecutors said.

We don’t get the third number to be able to calculate the volume. But I’ve got, if it’s 1 cm for that third, 600 cubic centimetres of cocaine. I’ll lost track of the zeros if I try to work through that but that is a lotta coke, isn’t it?

Ain’t this fun? Labour third in Wales

Nigel Farage’s Brexit Party stormed to victory in Wales, knocking Labour into an embarrassing third.

Mr Farage’s movement claimed 32 per cent of the vote in the country, more than 10 points ahead of their nearest rivals.

Sure, it’s not quite the knock out the SNP delivered in Scotland but wouldn’t it be fun if the Celtic vote simply abandoned Labour at Westminster. We’d have to fear them a great deal less, no?

Comment in The Guardian

“In state prisons, the mortality rate was 275 for every 100,000 people, the highest since data collection began in 2001.”

That’s about the same as the mortality rate for men 35 to 45 years old in the general population:

https://www.statista.com/statistics/241572/death-rate-by-age-and-sex-in-the-us/

And the prison population trends older than the general population:

https://www.bop.gov/about/statistics/statistics_inmate_age.jsp

I’d say the large number of deaths in US prisons is mostly because there’s lots of people in US prisons. Sure, that incarceration rate is a problem that should be solved. But the death rate doesn’t seem out of the ordinary at all.

A fuller explanation here.

You just wait honey, you just wait

Damn, luvvies can be just so annoying. So, there’s a Guardian headline:

Patricia Arquette: ‘I don’t want to play the ingenue for ever’

To which the correct response is don’t worry honey, you won’t.

ingénue
/ˈãʒən(j)uː/
noun
an innocent or unsophisticated young woman, especially in a play or film.

Just wait a few years and you really won’t.

So, all nicely lined up to have a snarl:

“It’s really liberating,” she says. “I feel like my whole career, I’ve had to operate within boundaries of what’s a likable woman? What’s attractive to society? There were a lot of people before I did Escape at Dannemora who said: ‘Oh my God, don’t gain weight for that, don’t let them make you look like that or you won’t be able to get jobs.’ I was like: ‘I’m an actor, just let me act!’… I don’t feel that we put that on males and I don’t want to carry it around any more.

“I don’t want to be the ingenue for ever – you can’t,” she continues. “We see people my age still trying to be ingenues, and at a certain point, you look… otherworldly. How are you going to play a 50-year-old woman in the real world?” Arquette isn’t judgmental about plastic surgery (“It’s your face; you get to look like whatever you want to look like”). She just feels that it affects on-screen credibility. “If some dude who looks like he works out four hours a day plays some regular dad, I have a hard time believing that too. You’ve got to look realistic for a part like that.”

Bugger, isn’t that annoying? An actor who is actually an intellectual adult?

This isn’t decimation

Nigel Farage’s party came top in the North East, North West, East of England, Wales, West Midlands, East Midlands, Yorkshire & Humber, the South West and South East.

This came largely at the expense of the Conservative Party. Theresa May’s party have lost a huge share of the vote across all regions, so far losing 15 MEP seats to a total of three.

Them’s the results. Described as:

The Conservatives have been decimated in the European elections and recorded their worst result in history as Nigel Farage’s six-week-old Brexit Party triumphed.

Closer to a nonagintamation, no?