This short film made with Seedance 2.0 is absolutely insane.The realism looks like a real movie — no one can…
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REFRESHER COURSE: HOW AL CAPONE FELL
Translated from the French by Tim Gupwell
Idea association being an excellent means of investigation… here is a reminder of this article dating from 26th March 2010.
Everybody knows the history of Al Capone, who was never caught by the American state for his racketeering activities but was brought down by an investigation for tax evasion. One also knows that the American banks have made life difficult for the authorities since they have attempted to put back a bit of order into a sector which has triggered an unprecedented crisis in the entire capitalist system. At the same…
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THOSE RESPONSIBLE FOR THE CRISIS WHO ARE RARELY TALKED ABOUT
Translated from the French by Tim Gupwell
The question of whether a debt contract can be considered as money is central to my book L’argent mode d’emploi (2009). I expose the violence exerted by Joseph Schumpeter (1883-1950), when he imposed the idea that such was the case, and I demonstrated the inanity of the pseudo-arguments that he advanced – employing phrases that often lacked any sense – to support the idea (p. 175 – 180).
A debt contract is indeed another form of money according to Schumpeter, and its amount can be added to that of money…
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GUILTY PARTIES WANTED !, by François Leclerc
Guest post. Translated from the French by Tim Gupwell
In accordance with the predictable script, the bond market is under pressure again. The cost of servicing Spanish and Italian debt has continued to increase as their financing plans move forward in little measured steps. The effect of all this is to place an additional burden on the budgets, undermining those measures which are intended to reduce the deficits.
The statistical institutes INSEE (France), IFO (Germany) and ISTAT (Italy) all agree: Europe is sinking into a recession which they describe as ‘technical” in an attempt to make it sound…
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NUCLEAR RESTARTED IN JAPAN, by Asami Sato
Guest post. Translated from the French by Tim Gupwell
On Saturday the 16th June, the Prefecture of Fukui (in the West of Japan) officially gave its consent to the Prime Minister for two reactors at the Ohi nuclear power station to be restarted. The dates are set for the 8th July for reactor N°3 and the 24th July for Reactor N°4.
So the ‘nuclear zero’ experiment will only have lasted two months. Apparently, the painful experience of Fukushima will have no impact on the habitual order of Japanese political life.
No question meets with a clear answer anymore:…
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THE MANIPULATION OF THE LIBOR
Translated from the French by Tim Gupwell
In my Friday morning video (in French), I said that when a pirate (Rupert Murdoch) does business with a ship wrecker (the City of London), it tends to weaken the entire system, and I went on to add that this is particularly the case when the population, which is observing all this from afar, starts to exhibit a certain degree of indignation.
The LIBOR affair has been widely discussed for several days now, due to the 290 million pound fine imposed on the British bank Barclays. My reaction hitherto has…
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THIS SYSTEM IS ITS OWN WORST ENEMY, by François Leclerc
Guest post. Translated from the French by Tim Gupwell
In the little game of who won and who lost, what conclusions can be drawn from the recent European council? Interpretations differ widely: some highlight the German Government’s about-turn, who themselves retort that the essence of their position has been preserved intact; others congratulate Mario Monti for his skilful manoeuvring; while the French claim that the real winner is Europe itself, magnanimously playing the role of victor, and giving credence to the idea that the Germans gave in. With everybody trying to turn the situation to their advantage, where…
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THE WINDOWS MUST REMAIN CLOSED, by François Leclerc
Guest post. Translated from the French by Tim Gupwell
By rejecting the quartet’s plan, (which has, moreover, already been watered-down) before the summit has even been held, the German deputy foreign affairs minister, Michael Link has placed himself in the avant-garde of all those opposing any attempt at a compromise. The “iron chancellor’s” hard-line approach has not changed: political union first, but not yet, and possibly the rest after that. There is a risk that the only thing left of the elaborate construction, already proposed only in its broadest outlines (even for that of the banking union component)…
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In the age of AI, the danger is not knowing less than machines, but understanding too slowly the structure of…
Ouch! The whole of cosmology was standing on its head, and now it’s back on its feet! And everything becomes…
To expand on this reflection, I’d like to propose an image that radically inverts our usual representation of the Big…
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