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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THE REGULATORS’ INDIGESTIBLE COOKERY, by François Leclerc
Guest post. Translated from the French by Tim Gupwell.
The debate on growth which is starting to take shape has overshadowed an event which is less spectacular but just as decisive. It concerns the deleveraging of banks, which will have an influence on growth as it is accompanied by a reduction in credit for the economy. The higher the ratio, the less abundant will be the credit. Indeed, the finance ministers adopted last Wednesday a compromise with regard to the adaptation of the prudential regulations of Basel 3 into European law; a basis for the drafting up of a future…
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QUESTIONS STILL IN NEED TO BE SOLVED (VI) PREDICAMENT OF PRIVATE PROPERTY
An English translation by Bernard Bouvet of the post “QUESTIONS À RÉSOUDRE (VI) DILEMMES DE LA PROPRIÉTÉ PRIVÉE”.
Private property, as we saw previously, allows you or I to selfishly take advantage of our planet’s generosity towards us and claim ownership of what she bears within her or what she produces spontaneously thanks to the sun, the wind, the rain, and derive a rent from it.
The impact of such an institution is quite obviously unfair. The French Revolution, nonetheless, stopped at its edge. The 1789 Declaration of the Rights of Man and of the Citizen even affirms:…
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QUESTIONS STILL IN NEED TO BE SOLVED (V) HOW IS THE AMOUNT OF SURPLUS VALUE DETERMINED
March 7th, 2012 by Paul Jorion |
An English translation by Jean-Loup Komarower of the post QUESTIONS À RÉSOUDRE (V) COMMENT SE DÉTERMINE LE SURPLUS
A set of inputs contribute to the production process: the labour provided by workers, the raw materials used, capital investment. A surplus value arises from this operation, mostly thanks to world ebullition under its two aspects: on the one hand, sun, rain, wind, mineral resources, fossil energy, and on the other hand the…
1comment(s): QUESTIONS STILL IN NEED TO BE SOLVED (V) HOW IS THE AMOUNT OF SURPLUS VALUE DETERMINED
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QUESTIONS STILL IN NEED TO BE SOLVED (III) “WORLD EBULLITION” AND PRIVATE PROPERTY
An English translation by Jean-Loup Komarower of the post « ÉBULLITION DU MONDE » ET PROPRIÉTÉ PRIVÉE
Two questions have to be resolved initially: is new wealth created in the production of goods and services and if it is, how can its amount and value be determined? In addition, are the opposing parties that in our contemporary world share the newly created wealth all justified in getting a share and if they do, where do they derive this right and what is the conceptual foundation of this right?
We have the…
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QUESTIONS STILL IN NEED TO BE SOLVED (II) PROFIT, THE SOURCE OF ALL OUR ILLS
An English translation by Jean-Loup Komarower of the post QUESTIONS À RÉSOUDRE (II) LE PROFIT, SOURCE DE TOUS NOS MAUX
Robert Owen (1771-1858) was a Welsh social reformer, one of the founders of the cooperative movement. As a very early socialist who was blamed for being strictly speaking a “communist”, he considered profit as the source of all our ills. Owen asserted that profit is pure spoliation: workers were robbed of a benefit that should be theirs. Because profit skims part of the value produced by the worker’s labour, it becomes impossible for the latter to be a consumer of…
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QUESTIONS STILL IN NEED TO BE SOLVED (I) ARE ALL EARNINGS TRULY DESERVED?
An English translation of my post QUESTIONS À RÉSOUDRE (I) TOUS CEUX QUI SONT RÉMUNÉRÉS LE MÉRITENT-ILS VRAIMENT?
There is a question that neeeds to be answered at all costs; 19th century thinkers have devoted much thought towards its solution. Here it is: when we consider rent obtained by a landowner or by the owner of mineral ore extracted from the ground, interest obtained by the owner of capital also known as capitalist, the profit gained by an industrialist or entrepreneur, and the wages paid to a worker, is one of these incomes unjustified and thereby undeserved?
The only…
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“No Matter What We Do, It Will Still Be The Same”
An English translation by Bernard Bouvet of my « QUOI QU’ON FASSE, CE SERA LA MÊME CHOSE ! » of March 11.
77% of you, my dear blog readers, not all of you, but a “comfortable majority” of you, happens to be French. Your country is now in full “election showbiz” mode, and the mainstream media, in the press, on the radio, on television, are full of it, news on why the moment is “crucial” and “how to vote”, are front and centre.
Still, you are perfectly conscious of the fact that whatever which way you vote,…
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GREEK DEBT SPECULATORS, NEUTRALISED
An English translation by Bernard Bouvet of my post “Les spéculateurs sur la dette grecque, neutralisés”.
Last Friday’s ruling by the International Swaps and Derivatives Association (ISDA) that the much talked about Greek debt swap, or the so-called private sector initiative (PSI), does not represent a “credit event” and, therefore does not trigger Credit Default Swaps (CDS) payments, constitutes a remarkable victory against the markets, the first real victory in an asymmetric war started exactly five years ago at the height of the subprime mortgage crisis.
With this decision, sovereign debt speculation is being brought to heel: being effectively…
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Hellenic Securitisation S.A. – Request for Information, by Panagiotis Grigoriou
Guest post. Translated from the French by Bernard Bouvet.
This is Athens!
We are barely able to recover from Memorandum 2 (see the latest entry (Sightseeing Athens) on my blog “Greek Crisis”). The Shock Strategy, when undergone as a…patient, doesn’t give you any respite. Multi-risk, multi-faceted, a total weapon. In the meantime, through the mainstream media, I see that France, self-absorbed in electioneering, is turning its presidential campaign into a political beauty contest, far, far removed from the crucial issues.
At home, the bankocracy’s advance is measured at the speed of light: the situation is far…
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A THREAT (ALMOST) WITHOUT PRECEDENT
An English translation by Bernard Bouvet of my post Une menace sans précédent (ou presque).
You will recall what Dick Cheney, the former U.S. Vice President, said at the time, it was 2001, about Saddam Hussein? No, not that, I mean before there was any question of “weapons of mass destruction.” Cheney’s affirmation was that Saddam Hussein was in league with Al-Qaeda, implying that even if Saddam himself didn’t happen to be a terrorist, it was still very much all the same. Although various official reports over the years disproved any contact between Saddam Hussein and Al-Qaeda, a…
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