#MacroEconomics
— E.K-H (@AXECorg) November 30, 2023
The #ProfitLaw implies #PublicDeficitIsPrivateProfit, i.e. the #Oligarchy thrives on #DeficitSpendingMoneyCreation. Growing #PublicDebt is their #SuccessFormula. #DebtBrake means #ProfitBrake. Its elimination, therefore, becomes the first priority of #EconTrolls. pic.twitter.com/iDk6MKMTrw
This blog connects to the AXEC Project which applies a superior method of economic analysis. The following comments have been posted on selected blogs as catalysts for the ongoing Paradigm Shift. The comments are brought together here for information. The full debates are directly accessible via the Blog-References. Scrap the lot and start again―that is what a Paradigm Shift is all about. Time to make economics a science.
November 30, 2023
Occasional Xs: What economists really do (XCII)
Occasional Xs: The foul spirit of political economics (LXIV)
#LearnEcon
— E.K-H (@AXECorg) November 30, 2023
The #ProfitLaw implies #PublicDeficitIsPrivateProfit, i.e. the Oligarchy thrives on #DeficitSpendingMoneyCreation. Growing #PublicDebt is their #SuccessFormula. #DebtBrake means #ProfitBrake. Its elimination, therefore, becomes the “zentrale Konflikt unserer Zeit”. pic.twitter.com/exm8AbVZ5u
Occasional Xs: The futile attempt to recycle Adam Smith (L)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) November 30, 2023
Think of everything #Scientists & #Engineers have achieved in the past 200+ years. And compare this with #Economists who are still stuck with reciting Adam Smith's embarrassing trivia. pic.twitter.com/iU7rdcnkIe
Occasional Xs: Clueless economists / Phillips Curve (VII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 30, 2023
Due to the lack of correct #MacroFoundations, Samuelson et al. messed up the original #PhillipsCurve. Being scientifically incompetent, #Economists have not realized anything since then. For details see links ⇒https://t.co/0yuibAGZDZ pic.twitter.com/1AdEhCUEU8
Occasional Xs: The foul spirit of political economics (LXIII)
The fact is that it was obvious from the beginning what #Zeitenwende policy was going to be because these folks openly announced it. Only the SVR #Economists didn't see the #Impoverishment of #WeThePeople / #DeficitSpendingMoneyCreation / exploding #PublicDebt/ #Inflation coming. pic.twitter.com/rH4MdSh7Tm
— E.K-H (@AXECorg) November 30, 2023
November 29, 2023
Occasional Xs: How it works (CXLIV)
#Price#Profit#Deficit
— E.K-H (@AXECorg) November 29, 2023
The macroeconomic #LawOfSupplyAndDemand and the #ProfitLaw tell one exactly how avg #Price P & total #Profit Qm move as a function of avg #WageRate W, avg #Productivity R & overall #DeficitSpendingMoneyCreation ρE ― which is the common cause. pic.twitter.com/MchTDQKjmb
Occasional Xs: The real problem of economics (XXI)
#Econ#FailedFakeScience#Economics is about how the actual #Economy works & NOT a prophecy about what the CDU will say in a year. To this day, #Economists are NOT good at #Science but are mainly occupied with #MetaCommunication about what #Politicians have said and will say. pic.twitter.com/k46nQ7J6aS
— E.K-H (@AXECorg) November 29, 2023
Occasional Xs: The foul spirit of political economics (LXII)
The USA/EUR/GER is at #War with RUS. War is expensive & means #Impoverishment of #WeThePeople / #DeficitSpendingMoneyCreation / exploding #PublicDebt / #Inflation. Now #MoreMoney is needed to continue. This is why the #DebtBrake must go. It is NOT for #Infrastructure or #Climate. pic.twitter.com/cx11g8iTnC
— E.K-H (@AXECorg) November 29, 2023
Occasional Xs: The foul spirit of political economics (LXI)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 29, 2023
The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot / #Clown in the political #CircusMaximus. Hayek, Cowen, & the folks at EconTalker are NO exception.
Hayek was not an economisthttps://t.co/vKqQUeyNq8 pic.twitter.com/FRtcnIu3Px
Occasional Xs: The foul spirit of political economics (LX)
The #ProfitLaw implies #PublicDeficitIsPrivateProfit i.e. the Oligarchy thrives on #DeficitSpendingMoneyCreation. Growing #PublicDebt is their #SurvivalFormula. #DebtBrake means #ProfitBrake. The FT can NEVER condone this. That is NOT bemerkenswert when one considers who owns it. pic.twitter.com/c1GG0O064B
— E.K-H (@AXECorg) November 29, 2023
Occasional Xs: How it works (CXLIII)
#Econ
— E.K-H (@AXECorg) November 29, 2023
According to the axiomatically correct macroeconomic #LawOfSupplyAndDemand, the #RealWage W/P in the elementary production-consumption #Economy increases (i) with the #Productivity R and declines (ii) with #DeficitSpendingMoneyCreation i.e. ρE>1. pic.twitter.com/P3akLl0lTO
Occasional Xs: The foul spirit of political economics (LIX)
The #ProfitLaw implies #PublicDeficitIsPrivateProfit i.e. the Oligarchy thrives on #DeficitSpendingMoneyCreation. Growing #PublicDebt is their #SurvivalFormula for 200+ yrs. #DebtBrake means #ProfitBrake. The FT can NEVER condone this. But with the JUSOs there is something wrong. pic.twitter.com/CIwXYXRWmD
— E.K-H (@AXECorg) November 29, 2023
Occasional Xs: Clueless economists / Science (XXV)
#Economics#FailedFakeScience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. So far, “the tools of economic reasoning” have produced only proto-scientific garbage. pic.twitter.com/2IVBm8TiC4
— E.K-H (@AXECorg) November 29, 2023
November 28, 2023
Occasional Xs: How it works (CXLII)
The US #Economy runs on #Profit. The #ProfitLaw ⇓ implies that one part is produced by public #DeficitSpendingMoneyCreation, the other by private #DeficitSpending. So, the #Oligarchy's #FinancialWealth ≈ public+private #Debt of #WeThePeople. This works just fine for a while. pic.twitter.com/BW40u5lkIc
— E.K-H (@AXECorg) November 28, 2023
Occasional Xs: How it works (CXLI)
The #FreeMarketEconomy runs on #Profit. The #ProfitLaw implies #PublicDeficitIsPrivateProfit. The growth of #PublicDebt generates continuous #Profit/#Interest for the #Oligarchy. #WeThePeople owes the #PublicDebt & is taxed for #Interest, #Oligarchy owns the #FinancialAssets. pic.twitter.com/zXSqagkcWj
— E.K-H (@AXECorg) November 28, 2023
Occasional Xs: How it works (CXL)
The GER polity is an #Oligarchy with #Parliament/#Treasury/#CB/etc. as integral parts. The #ProfitLaw implies #PublicDeficitIsPrivateProfit, i.e. the Oligarchy thrives on #DeficitSpendingMoneyCreation. Growing #PublicDebt is their #SurvivalFormula. #DebtBrake means #ProfitBrake. pic.twitter.com/rHHMSrrI4W
— E.K-H (@AXECorg) November 28, 2023
Occasional Xs: How it works (CXXXIX)
USA/EUR/GER is at war with RUS. #WarEconomy means #Impoverishment / #SocialDeprivation / #DeficitSpendingMoneyCreation / exploding #PublicDebt / #Inflation bc in real terms, #WeThePeople ALWAYS pays for the war. #Zeitenwende policy ruins the #Economy, NOT the #SchuldenBremse.
— E.K-H (@AXECorg) November 28, 2023
Occasional Xs: Economics ― just disinfotainment and self-hype (XXXII)
#Econ#FailedFakeScience#DisInfoTainment
— E.K-H (@AXECorg) November 28, 2023
The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The representative #Economist is NOT a #Scientist but an #AgendaPusher/#Clown in the political #CircusMaximus. Who is the greatest? pic.twitter.com/PWj5kuHjVU
Occasional Xs: How it works (CXXXIX)
The issue with #DebtLimits/#Austerity is that USA/EUR/GER is at #War with RUS. #War is expensive & means #Impoverishment / #DeficitSpendingMoneyCreation / exploding #PublicDebt / #Inflation. In GER more money is needed to continue. It's NOT about #Infrastructure or #Climate. pic.twitter.com/5pOh0KMHqQ
— E.K-H (@AXECorg) November 28, 2023
The USA/EUR/GER is at #War with RUS. War is expensive & means #Impoverishment of #WeThePeople / #DeficitSpendingMoneyCreation / exploding #PublicDebt / #Inflation. Now #MoreMoney is needed to continue. This is why the #DebtBrake must go. All #EconTrolls are behind this #Agenda.
— E.K-H (@AXECorg) November 28, 2023
The GER polity is an #Oligarchy with #Parliament/#Treasury/#CB/#BigBusiness/ #Academia/#Media as integral parts. The #ProfitLaw implies #PublicDeficitIsPrivateProfit, i.e. the Oligarchy thrives on #DeficitSpendingMoneyCreation. Growing #PublicDebt is their #SurvivalFormula. pic.twitter.com/F5F5Uz6yAe
— E.K-H (@AXECorg) November 28, 2023
November 27, 2023
Occasional Xs: The foul spirit of political economics (LVIII)
The #ProfitLaw implies #PublicDeficitIsPrivateProfit. #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Their #FinancialWealth grows with #PublicDebt which is owed by #WeThePeople. A #DebtBrake slows down a #ProfitExplosion. Only #EconTrolls find this verrückt. pic.twitter.com/0OUTrzQUbr
— E.K-H (@AXECorg) November 27, 2023
Occasional Xs: How it works (CXXXVIII)
The #ProfitLaw implies #PublicDeficitIsPrivateProfit. #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Their #FinancialWealth grows with #PublicDebt which is owed by #WeThePeople. So, #DebtBrake→ #ProfitBrake→ #BreakdownOfCapitalism. ⇒https://t.co/nsoHK9OIaP pic.twitter.com/rtZt1hc9Ks
— E.K-H (@AXECorg) November 27, 2023
Occasional Xs: The real problem of economics (XX)
#Econ#FailedFakeScience
— E.K-H (@AXECorg) November 27, 2023
The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The representative #Economist is NOT a #Scientist but an #AgendaPusher/#Clown in the political #CircusMaximus. Who is the greatest? Shame on them all pic.twitter.com/qafJ0tqoxI
Occasional Xs: How it works (CXXXVII)
There is an absolute #UpperLimit for the growth of #PublicDebt. It is determined by #InterestRate*#PublicDebt/ #PublicBudget=1.
— E.K-H (@AXECorg) November 27, 2023
From the debt economy to the gift economy: how America is brainwashed to love budget deficitshttps://t.co/gtHNBAObhl
Occasional Xs: How it works (CXXXVII)
The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, the 1%ers should argue FOR #DeficitSpendingMoneyCreation = increasing #PublicDebt & the 99%ers should decline. #Austerity talk is for the birds. Growing #PublicDebt is the #Oligarchy's survival formula for 200+ years. pic.twitter.com/dMYg7iQWeX
— E.K-H (@AXECorg) November 27, 2023
Occasional Xs: Scrap the EconNobel (XII)
#Economics
— E.K-H (@AXECorg) November 27, 2023
The #NobelPrize has been weaponized. #Economics is #FailedFakeScience, so the #EconNobel has NO scientific significance but is an #Incentive/#Reward with which the #Oligarchy controls #Academia.
Links ⇒https://t.co/ExJf3VErgZ pic.twitter.com/k0QRMQocbB
Occasional Xs: How it works (CXXXVI)
The #FreeMarketEconomy runs on #Profit. The #ProfitLaw implies #PublicDeficitIsPrivateProfit. The growth of #PublicDebt generates continuous #Profit/#Interest for the #Oligarchy. This works ― for a while.⇒ https://t.co/gtHNBAObhlhttps://t.co/OfTSftlzVf pic.twitter.com/tsAJTLw8ZA
— E.K-H (@AXECorg) November 27, 2023
Occasional Xs: How it works (CXXXV)
The US polity is an #Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. The #ProfitLaw implies #PublicDeficitIsPrivateProfit & #PrivateFinancialWealth ≈ #PublicDebt. #DeficitSpendingMoneyCreation is a #FreeLunch for the Oligarchy. #BiggerIsBetter―genius, POTUS! pic.twitter.com/VlCadnzAue
— E.K-H (@AXECorg) November 26, 2023
Occasional Xs: The real problem of economics (XXI)
#Economics is #FailedFakeScience. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #Clown in the political #CircusMaximus. The New School is NO exception.
— E.K-H (@AXECorg) November 26, 2023
Stephanie Kelton & Isabella Weber are #EconBlockers i.e. violate the Code of Professional Conduct. pic.twitter.com/64I3llt6Tu
November 26, 2023
Occasional Xs: How it works (CXXXIV)
#Econ
— E.K-H (@AXECorg) November 26, 2023
The US #Polity is an #Oligarchy with #Congress/#Treasury/#Fed/#BigBusiness/ #Academia/#Media as integral parts. The Fed is pivotal for its #SelfAlimentation.
The Fed's generation of profit, interest, and capital gains is second to nonehttps://t.co/QcNWEUvYiB
Occasional Xs: How it works (CXXXIII)
The #FreeMarketEconomy runs on #Profit. The #ProfitLaw implies #PublicDeficitIsPrivateProfit. The growth of #PublicDebt generates continuous #Profit/#Interest for the #Oligarchy. That's why the public debt has increased for 200+ years in the USA/UK/GER etc. and will continue. pic.twitter.com/4r7eNXw5XZ
— E.K-H (@AXECorg) November 26, 2023
Occasional Xs: The futile attempt to recycle MMT (LV)
#MMT#BadScienceBadPolicyBadPeople
— E.K-H (@AXECorg) November 26, 2023
The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. The MMT policy of #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy.
MMT: Distribution is the drawback NOT Inflationhttps://t.co/pmC8NnJOpC pic.twitter.com/LtrfIGmVMw
Occasional Xs: The real problem of economics (XX)
#Economics#FailedFakeScience#Economics claims to be #Science but is NOT. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot /#Clown in the political #CircusMaximus. Pluralists are NO exception. pic.twitter.com/uXYvqxYzK8
— E.K-H (@AXECorg) November 26, 2023
Occasional Xs: The futile attempt to recycle MMT (LIV)
#MMT#BadScienceBadPolicyBadPeople
— E.K-H (@AXECorg) November 26, 2023
MMT's foundational #BalancesEquation is provably false, so their whole #Macroeconomics is scientifically worthless.
The page where Stephanie Kelton gets macroeconomics wrong https://t.co/CNFDkXMzzQ pic.twitter.com/84i4YV6U1T
November 25, 2023
Occasional Xs: Clueless economists / Science (XXIV)
The history of economic thought is the history of scientific failure. #Walrasianism, #Keynesianism, #Marxianism, #Austrianism, etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Methodologists have failed to figure that out. pic.twitter.com/4vyP7j4Acv
— E.K-H (@AXECorg) November 25, 2023
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) November 26, 2023
Economists and methodology: the horror of all horrorshttps://t.co/CxZFTNlGwp
For details of the big picture see cross-references Methodology.
Occasional Xs: The futile attempt to recycle Keynesianism (XXXVI)
#Economics#FailedFakeScience#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. He was NOT a #Scientist but an #AgendaPusher/#Clown in the political #CircusMaximus.
— E.K-H (@AXECorg) November 25, 2023
Links on Keynes: socialist, liberal, or conservative?https://t.co/g80Xegokmn pic.twitter.com/StQ9KsYR8Z
Occasional Xs: How it works (CXXXII)
The #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. So, #PrivateFinancialWealth grows with #PublicDebt which is the interest #CashCow of the #Oligarchy. By reshuffling the #Debt (buy high, sell low) & taking losses the #CB acts as their direct #ProfitPump.
— E.K-H (@AXECorg) November 25, 2023
Occasional Xs: Clueless economists / Models (II)
#Econ#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Economics is scientifically worthless.
— E.K-H (@AXECorg) November 25, 2023
All models are false because all economists are stupidhttps://t.co/Uk1gI7FfD4
For more about models see AXECquery.
Occasional Xs: How it works (CXXXI)
There’s a difference between borrowing for (i) infrastructure investment & borrowing for (ii) the #WarOnRussia & the social cushioning of its negative consequences. It was #Consumptive #DeficitSpendingMoneyCreation for (ii) that pushed #PublicDebt beyond the #SchuldenGrenze.
— E.K-H (@AXECorg) November 25, 2023
Occasional Xs: The real problem of economics (XIX)
#Econ#FailedFakeScience#DisInfoTainment#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Economics has finally become a cargo-cultic #ClownShow. pic.twitter.com/btX9USQeLH
— E.K-H (@AXECorg) November 25, 2023
November 24, 2023
Occasional Xs: The real problem of economics (XVIII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Economics has been scientifically worthless since Adam Smith. pic.twitter.com/DTcZIPovV6
— E.K-H (@AXECorg) November 24, 2023
Occasional Xs: The real problem of economics (XVII)
“Economics is the study of the economy, not the study of economists.” (Reis)
— E.K-H (@AXECorg) November 24, 2023
The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. Scientifically, the representative #Economist is a failure. The “best economist” is an empty set. pic.twitter.com/VfCHd3u7eP
Occasional Xs: What economists really do (XCI)
The #FreeMarketEconomy runs on #Profit. The macro #ProfitLaw implies #PublicDeficitIsPrivateProfit. The growth of #PublicDebt generates continuous #Profit/#Interest for the #Oligarchy. #DebtBrake means #ProfitBrake ― this is unacceptable and their #EconTrolls have to fix it. pic.twitter.com/xvMXXWNpB6
— E.K-H (@AXECorg) November 24, 2023
Occasional Xs: The foul spirit of political economics (LVII)
#Econ#EconomicWarfare
— E.K-H (@AXECorg) November 24, 2023
Dear Mr. Rahmstorf, you know that the USA/EUR/GER war on RUS is more expensive than we thought. This is why #DeficitSpendingMoneyCreation has hit the #DebtLimit. We are currently working hard to eliminate it.
Sorry for the inconvenience!
Die #Ampel pic.twitter.com/D7YrZV2SjW
Occasional Xs: What economists really do (XC)
The GER polity is an #Oligarchy with #Parliament/#Treasury/#CB/#BigBusiness/#Academia/#Media as integral parts. The #ProfitLaw implies #PublicDeficitIsPrivateProfit, i.e. the Oligarchy thrives on #DeficitSpendingMoneyCreation. #TopEconomists are supposed to push this #Agenda. pic.twitter.com/bXX9G7WTGh
— E.K-H (@AXECorg) November 24, 2023
Occasional Xs: The foul spirit of political economics (LVI)
The #ProfitLaw implies #PublicDeficitIsPrivateProfit. So, the 1%ers should argue FOR #DeficitSpendingMoneyCreation = increasing #PublicDebt & the 99%ers should argue AGAINST it. #Austerity talk is vacuous. Public debt has been growing for 200+ yrs. Links⇒https://t.co/nsoHK9Oalh pic.twitter.com/hgEAyadpu6
— E.K-H (@AXECorg) November 24, 2023
Occasional Xs: The foul spirit of political economics (LV)
#Econ#War
— E.K-H (@AXECorg) November 24, 2023
One has to wonder why you did not propose 'Hey Annalena, stop the war, and let's turn the military budget into a green budget.' You certainly know that war is expensive & bad for #Climate/#Environment. #DeficitSpending for war is NOT for the benefit of #WeThePeople. pic.twitter.com/MkBM4Oh0Pb
Occasional Xs: What economists really do (LXXXIX)
The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, the 1%ers should always welcome #DeficitSpendingMoneyCreation = increasing #PublicDebt & the 99%ers should reject it. Mr. Lindner acts rational, the DGB has bad advisors. For details see links ⇒https://t.co/nsoHK9Oalh pic.twitter.com/lprfHI1pJJ
— E.K-H (@AXECorg) November 24, 2023
November 23, 2023
Occasional Xs: How it works (CXXX)
The macro #ProfitLaw implies #PublicDeficitIsPrivateProfit. #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Their #FinancialWealth grows with #PublicDebt. #DebtBrake means #ProfitBrake. So, the #Ampel had to scrap it bc economically war→#Deficit up→#Profit up.
— E.K-H (@AXECorg) November 23, 2023
Occasional Xs: The foul spirit of political economics (LIV)
#Economics#War#EconomicWarfare#NotLage
— E.K-H (@AXECorg) November 23, 2023
USA/EUR/GER is at war with RUS. #WarEconomy means #Impoverishment / #DeficitSpendingMoneyCreation / exploding #PublicDebt / #Inflation bc in real terms, it is ALWAYS #WeThePeople who pays. This is a #Loss & NO #InvestmentForTheFuture.
Occasional Xs: How it works (CXXIX)
The US polity is an #Oligarchy with Congress/Treasury/Fed/BigBusiness/Academia/ Media as integral parts. The #ProfitLaw implies #PublicDeficitIsPrivateProfit. #DeficitSpendingMoneyCreation is a #FreeLunch for the Oligarchy. The GER polity is an exact projection of this.
— E.K-H (@AXECorg) November 23, 2023
Occasional Xs: The foul spirit of political economics (LIII)
#FixedIt
— E.K-H (@AXECorg) November 23, 2023
'Meine Damen und Herren, die Schuldenbremse in ihrer jetzigen Form ist eine #ProfitBremse. Wir werden sie reformieren, und die #ProfitExplosion entfesseln. Wir wollen nicht #Profit bremsen, sondern ermöglichen.'#Austerity links⇒https://t.co/nsoHK9Oalh pic.twitter.com/Hj1mE5sJKL
Occasional Xs: How it works (CXXVIII)
The #ProfitLaw implies #PublicDeficitIsPrivateProfit. So, the 1%ers should argue FOR #DeficitSpendingMoneyCreation = increasing #PublicDebt & the 99%ers should argue AGAINST it. Mr. Lindner's loyalty belongs to the 1%ers ― no surprises here. #Austerity⇒https://t.co/nsoHK9Oalh pic.twitter.com/JATjj44s1Q
— E.K-H (@AXECorg) November 23, 2023
Occasional Xs: The futile attempt to recycle Adam Smith (XLIX)
The history of economic thought is the history of scientific failure. #AdamSmith NEVER understood what profit is. Bc the foundational concepts of #Profit, #Income, #Value, #Distribution are inconsistent #Economics has been scientifically worthless from the beginning. pic.twitter.com/AcpZ2Ynnkx
— E.K-H (@AXECorg) November 23, 2023
Occasional Xs: The foul spirit of political economics (LII)
The correct term for the US polity is #Oligarchy. It runs on #Profit & thrives on #DeficitSpendingMoneyCreation=growing #PublicDebt. The macro #ProfitLaw implies #PublicDeficitIsPrivateProfit & #PrivateFinancialWealth≈#PublicDebt. #Liberalism is just a communicative #Decoration.
— E.K-H (@AXECorg) November 23, 2023
Occasional Xs: The real problem of economics (XVI)
#Change is a weasel word. Any moron can change the world. The point is to improve it. #Economists failed at their task. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. In their incompetence, economists are a public danger. pic.twitter.com/LPWtQLvfMh
— E.K-H (@AXECorg) November 23, 2023
Occasional Xs: How it works (CXXVII)
Public debt increases for 200+ yrs. The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Their #FinancialWealth grows with #PublicDebt. #DebtBrake means #ProfitBrake i.e. the end of the #Economy as we know it. pic.twitter.com/RndVj66XYc
— E.K-H (@AXECorg) November 23, 2023
Occasional Xs: How it works (CXXVI)
The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation = growing #PublicDebt is a #FreeLunch for the #Oligarchy and #DebtBrake means #ProfitBrake. If a #Crisis is needed to eliminate it, the #Oligarchy will produce one. You can count on that. pic.twitter.com/eaZNrcHQKK
— E.K-H (@AXECorg) November 23, 2023
November 22, 2023
Occasional Xs: The real problem of economics (XV)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Economics has been scientifically worthless since Adam Smith. pic.twitter.com/0MKUUWlF5V
— E.K-H (@AXECorg) November 22, 2023
Occasional Xs: How it works (CXXV)
Climate protection, healthcare, domestic security, etc. can all be realized with a #BalancedBudget by increasing taxes or reducing ― e.g. ― the #MilitaryBudget. This #Restructuring has NOTHING to do with #DeficitSpendingMoneyCreation i.e. with growing #PublicDebt.#DoNotMixUp
— E.K-H (@AXECorg) November 22, 2023
Occasional Xs: Clueless economists / Distribution, Inequality (IV)
#Inequality#DoubleWhopper
— E.K-H (@AXECorg) November 22, 2023
The US polity is an #Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. #PrivateFinancialWealth grows with #PublicDebt & in the form of #Bonds becomes the #Interest #CashCow. pic.twitter.com/iQuskaEIUF
November 21, 2023
Occasional Xs: How it works (CXXIV)
#Economics#War
— E.K-H (@AXECorg) November 21, 2023
When the GOV has to finance a war, less is left for #WeThePeople. #WarEconomy means #Impoverishment / #Cuts in #SocialBenefits / #DeficitSpendingMoneyCreation / exploding #PublicDebt / #Inflation bc in real terms, it is ALWAYS #WeThePeople who pays for the war.
Occasional Xs: The real problem of economics (XIV)
#Econ#FailedFakeScience
— E.K-H (@AXECorg) November 21, 2023
The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #Clown in the political #CircusMaximus. Who is the greatest? Nobody cares. pic.twitter.com/yhHvgyEOr3
Occasional Xs: How it works (CXXIII)
#Economics#FailedFakeScience#SchuldenBremse#DebtBrake
— E.K-H (@AXECorg) November 21, 2023
It is NOT such a good idea to take economic comments from Washington DC at face value.
From the debt economy to the gift economy: how America is brainwashed to love budget deficitshttps://t.co/gtHNBAObhl
Occasional Xs: How it works (CXXII)
The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation = growing #PublicDebt is a #FreeLunch for the #Oligarchy and #DebtBrake means #ProfitBrake. If a #Crisis is needed to eliminate it, the #Oligarchy will produce one. You can count on that. pic.twitter.com/Rx9ayfEBqi
— E.K-H (@AXECorg) November 21, 2023
Occasional Xs: Paradigm Shift (VIII)
#Econ#Reset#Economics is about how the #Economy works. It is a #SystemsScience & NOT a #SocialScience i.e. NOT about #HumanNature / #Motives / #Behavior / #Choice / #Incentives / #Expectations / #Happiness etc. Actually, it is #FailedFakeScience and needs a #ParadigmShift. pic.twitter.com/mkgqghIPbq
— E.K-H (@AXECorg) November 21, 2023
For details of the big picture see cross-references Paradigm Shift.
Occasional Xs: Clueless economists / Money (V)
#LearnEcon
— E.K-H (@AXECorg) November 21, 2023
That #Money is created #OutOfNothing is NOT the point. The point is whether it is injected at the supply side/wage bill or on the demand side in the form of #DeficitSpending bc #PublicDeficitIsPrivateProfit.
Criminals and the Monetary Orderhttps://t.co/Iq1lVxfnnz pic.twitter.com/KxR0G0Gesw
November 20, 2023
Occasional Xs: Clueless economists / Science (XXIII)
#Econ#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Economics has NEVER been a #Science. Cross-ref ⇒
— E.K-H (@AXECorg) November 20, 2023
Proto-Science/Cargo Cult Science/Fake Sciencehttps://t.co/NOBms2sYAu pic.twitter.com/MEvT1dC3IA
Occasional Xs: What economists really do (LXXXVIII)
#Change is a weasel word. Any moron can change the world. The point is to improve it. #Economists failed at their task. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. In their incompetence, economists are a public danger. pic.twitter.com/wauJupYtEt
— E.K-H (@AXECorg) November 20, 2023
Occasional Xs: How it works (CXXI)
The #ProfitLaw implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation i.e. growing #PublicDebt is a #FreeLunch for the #Oligarchy and #DebtBrake means #ProfitBrake. If a #Notlage is needed to eliminate it, the #Oligarchy will produce one. You can count on that. pic.twitter.com/UJIS5xilnk
— E.K-H (@AXECorg) November 20, 2023